Credit Suisse and Paladyne team on market data for hedge funds via Bloomberg

Source: Credit Suisse

Credit Suisse and Paladyne Systems, Inc. today announced the launch of an enhanced suite of Paladyne products available as part of Credit Suisse's Advanced Prime solution launched in 2006.

Paladyne's multi-prime, front-to-back-office technology platform has recently been integrated with Bloomberg's suite of data products and is now available as a combined solution for Credit Suisse's Prime Services clients. The combination of Credit Suisse, Paladyne and Bloomberg is a highly cost-effective, multi-prime technology solution, unique to the hedge fund marketplace.

Credit Suisse Prime Services clients who require multiple prime brokerage relationships can leverage Paladyne's extensive, low-cost, hosted technology platform, completely independent of Credit Suisse's infrastructure. Paladyne's hosted offering includes a multi-asset class order management system and real-time P&L monitor, custom reporting and data warehousing tool, global security master repository for terms and conditions and corporate action processing, and a pricing and valuation toolset, fueled by Bloomberg's market-leading data and analytics.

"Now more than ever, our clients need comprehensive multi-prime technology solutions," says Philip Vasan, Managing Director and Head of Prime Services at Credit Suisse. "Combining Paladyne's front-to-back-office technology platform with Bloomberg's leading market data addresses many of the challenges our clients face to achieve significant operational efficiencies and lower operating costs."

Sameer Shalaby, CEO of Paladyne Systems, stated "Cost reduction is a primary concern of today's fund managers and was a main driver in creating this combined software and data offering with Credit Suisse and Bloomberg. In addition, our turn-key solution provides fund managers with thorough infrastructure at far less cost."

Credit Suisse and Paladyne are currently servicing a number of mutual clients with Paladyne's product suite and Bloomberg's data products. The detailed offering includes:

  • Paladyne Portfolio Master, a multi asset class order management and real-time P&L and portfolio management tool, is integrated with Bloomberg's real-time data products for pricing, modeling, OTC valuation and pre-trade compliance, and with Bloomberg's EMS system for trade execution.
  • Paladyne Security Master, a global terms and conditions and corporate actions repository, is integrated with Bloomberg's data products for complete security definition and corporate actions featuring the Bloomberg Data License and Credit Risk module for legal entity and ownership data.
  • Paladyne Price Master, a central repository of prices and market data with rules-based pricing and valuation, is integrated with Bloomberg data products for end-of-trading-day prices and market data, and with Bloomberg valuation services (BVAL) for over-the-counter security valuation.
  • Paladyne Analytics Master, a global data warehouse, custom reporting and reconciliation tool, collects and stores front- to- back-office data to be used for portfolio analysis, aggregated firm-wide reporting, and automated reconciliation with prime brokers and fund administrators.

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