Linedata Services, a leading provider of software and services to the global financial services marketplace, today announced that Perpetual Trustees Australia has selected its Front Office suite, LongView Trading and Linedata Compliance, to support its international business and growth strategy.
Perpetual Trustees Australia (Perpetual) is an independent diversified financial services group established in Australia 118 years ago.
Perpetual is one of Australia's leading fund managers, offering a broad range of products for personal investment, superannuation and retirement planning, in addition to managing corporate funds. As at 31 March 2005, Perpetual's funds under management were €15.6 billion.
Perpetual recently expanded its business operations through the establishment of a global equities business based in Dublin known as PI Investment Management.
To support the new global equities business, a global, multi-currency solution was required to provide portfolio management, pre- and post-trade compliance and trading, including FIX connectivity. Perpetual reviewed several of the leading systems in the marketplace and selected Linedata Services' front-office suite as the best fit for their needs in terms of functionality, connectivity and rapid implementation timescales.
Mark De Courcey, Investment Administration Manager for Perpetual, explained, "We looked at every aspect of this operation with great care, from recruiting the right investment team to providing them with the best infrastructure. Linedata Services was able to meet all our core requirements, as well as enabling us to run the software from our main hub in Australia without compromising on real-time access required by our team in Ireland. They were also able to meet our demanding implementation timescales.
"Our reference checks confirmed that Linedata Services is a good quality vendor," he continued "and its front office solutions are widely used, which strengthened our belief that Linedata Services is committed to its products and will continue to invest in the resources required in supporting and developing the application."
Paul Roberts, Chief Operating Officer for Linedata Services (UK) Ltd, commented, "We are delighted that Perpetual has chosen LongView Trading and Linedata Compliance. This is our first global client to be based in Australia. In addition to our recently announced agency agreement with Capital Market Solutions Limited, this underlines our commitment to the region and supporting global aspirations within the Asia Pacific investment community."
Following the success of Perpetual's Dublin business going live with LongView Trading and Linedata Compliance, the next phase of the project will see Perpetual consider extending the use of Linedata Services' Front Office suite to its Australian business.