Direct Access Partners and Paladyne Systems have announced a strategic relationship to provide Paladyne FastStart, directly to clients of Direct Access Partners.
The combined offering provides emerging to medium-sized fund managers with a cost-effective institutional-grade technology solution that streamlines their trading and operations as well as enhances their ability to address due diligence concerns in today’s demanding capital raising environment.
DAP clients will receive a number of key benefits from Paladyne FastStart:
• Turn-key technology platform: Paladyne FastStart is a complete front- to back-office technology solution for hedge fund managers including: end-to-end electronic trading, order management, pre/post-trade compliance, real-time P&L monitoring, position keeping and portfolio management, firm-wide reporting and automated reconciliation to 3rd-party counterparties such as prime brokers and fund administrators. Paladyne FastStart is a fully hosted ASP solution including hardware, connectivity, 24x7 IT support and full disaster recovery, which allows hedge funds to operate their businesses at minimal cost with no IT infrastructure requirements.
• Broker-neutral platform: Paladyne FastStart provides hedge funds a true multi-prime trading and portfolio management solution that is broker-neutral and provides full operational support for any combination of prime brokers and service provider relationships.
• Managed account platform: Paladyne FastStart provides full operational support for managed accounts with flexible trade allocation, compliance monitoring, automated reconciliation, and firm-wide aggregated reporting across all funds and managed accounts.
Ben Chinea, CEO of Direct Access Partners, commented: “Paladyne has set the technology gold standard. We are committed to provide our clients the best value - be it capital raising or trading solutions. The increase of institutional investment in hedge funds requires that our clients have world-class operations and technology solutions. Paladyne is the leading provider to these firms and we are pleased to provide our trading and prime brokerage customers the Paladyne FastStart solution.”
Sameer Shalaby, CEO of Paladyne Systems, said: “Direct Access Partners has earned the respect and loyalty of its clients by providing value through its institutional trading and capital raising capabilities. DAP clients who leverage Paladyne are at a distinct competitive advantage in terms of capital raising and operational efficiency.”
