ING Global Investment Strategies deploys Paladyne ASP platform

Source: Paladyne

Paladyne Systems, a leading provider of technology and services to the global hedge fund industry, today announced that ING Global Investment Strategies has successfully implemented the Paladyne product suite as its front-, middle-, and back-office solution.

ING Global Investment Strategies licensed Paladyne's ASP ("Application Service Provider") platform, a combined software, hosting and managed IT solution. ING Global Investment Strategies also licensed Advent's Geneva as its global accounting engine, and Paladyne completed the implementation of Geneva in combination with the PALADYNE suite of products.

ING Global Investment Strategies implemented the full PALADYNE product suite beginning with Paladyne Security Master and Paladyne Price Master as its centralized reference data management solution for security terms and conditions, corporate actions, and pricing. Advent's Geneva was implemented as the general ledger in combination with Paladyne Analytics Master for data aggregation, custom reporting, and automated reconciliation. Lastly, Paladyne Portfolio Master was introduced as a new trade capture and real-time profit and loss system consolidating FIX messages from external trading systems onto a centralized trade blotter for automated trade allocation and intra-day reporting. The existing integration of the Paladyne products with Geneva provides ING Global Investment Strategies with a seamless straight-through processing solution.

By leveraging Paladyne's ASP offering combined with their managed IT resources and existing market data vendor relationships, ING Global Investment Strategies was able to go into production in a very short timeframe and at a significantly lower total cost of ownership as compared to an in-house solution.

"We are pleased to partner with ING Global Investment Strategies as a strategic ASP client with comprehensive operational, compliance, and reporting requirements," said Sameer Shalaby, CEO of Paladyne Systems. "ING Global Investment Strategies completed a complex audit of our hosting facilities as part of their mandatory IT due diligence process and realized that the usage of our data center facilities and hosted platform to run their business met their operational requirements."

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