Paladyne Systems, the leading provider of next generation investment management solutions, today announced that Alpine Associates Advisors, a New Jersey-based multi-strategy hedge fund manager, with approximately $1.8 Billion under management, has successfully implemented the Paladyne Suite as its fully-hosted front- to back-office solution.
Alpine utilizes the Paladyne Suite for electronic trading and order management including two-way FIX connections, pre-/post-trade compliance, real-time P&L monitoring, portfolio management, reference data management, reconciliation to its prime brokers, and firm-wide reporting. The solution is fully hosted by Paladyne ASP, which includes a fully managed IT service, 24×7 technical and product support, hardware, product upgrades and quality assurance, and mirrored ("hot site") disaster recovery.
"With the growth of our firm and our plans for the future, we realized that we needed one integrated solution that was automated, and emphasized straight through processing across our entire organization and counterparties," explained Frank Fiorello, Head Trader at Alpine Associates. "We are extremely satisfied with the breadth of functionality that Paladyne offers, with this one relationship we now have a complete solution that supports our entire workflow, requires less internal resources, and appears to be much more cost-effective."
"We are very happy to partner with a high-profile firm such as Alpine Associates," commented Sameer Shalaby, CEO of Paladyne. "Alpine is yet another textbook example of a firm making the decision to replace its proprietary legacy technology with a cost-effective integrated suite of products bundled with a full-service IT solution."