GlobeOp to deliver Reuters Trade Access to hedge fund clients

Source: Reuters

Reuters (LSE: RTR, Nasdaq: RTRSY), the global information company, today announced that GlobeOp Financial Services ("GFS" or "GlobeOp"), a provider of fund administration and related support services for hedge funds, fund of funds, and high net worth family wealth offices, signed a multi-year contract to implement Reuters Trade Access to service GlobeOp's hedge fund clients.

GlobeOp will be able to offer Reuters Trade Access to all new and existing hedge fund clients. Reuters Trade Access is a cross-asset, on-line portfolio valuation and interactive real-time position-keeping system. Reuters Trade Access will allow hedge fund traders to create portfolios, upload positions and allocate their transactions. Hedge fund managers will be able to analyze aggregated positions, evaluate sensitivities and monitor P/L. It uses the latest Reuters Unified Application Framework, providing end users with a simple way of locating information relevant to their specific area of interest.

Reuters Trade Access complements Reuters full range of services for hedge funds such as research, technical analysis, liquidity discovery and trading tools. When combined with consistent, real-time or end-of-day pricing across all applications, these services provide the transparency and efficiency that portfolio managers and traders require. Reuters Trade Access can be integrated with real-time desktop tools including Reuters 3000Xtra and ReutersStation. The system runs on state of the art web-enabled technology allowing safe connections from anywhere in the world.

Phil Lynch, Chief Executive Officer of Reuters America, said: "The agreement with GlobeOp allows Reuters to expand its presence within the buy-side by co-marketing Reuters Trade Access with Reuters 3000Xtra and ReutersStation. GlobeOp brings a solid customer base of leading-edge hedge funds that can now benefit from an integrated portfolio view in the Reuters desktop."

Hans Hufschmid, Chairman and Chief Executive Officer of GlobeOp, said: "We are pleased to be able to offer Reuters Trade Access to our hedge fund clients. As a browser-based solution, it provides remote users with the specific functionality they need for pricing and inputting trades, monitoring positions and calculating deal financials. Reuters Trade Access will help our hedge fund clients meet their need for relevant, real-time information in a cost effective and flexible way."

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