London
24 February 2012
Reporter: Anna Reitman
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Point Nine completes Merchant's migration


Merchant Capital has completed its move to a new fund administrator and the migration of its UCITS umbrella fund to Point Nine's platform of live middle and back office services.

The platform, Circle2, provides live and cloud-enabled trade reconciliation and settlements reporting for the first time, allowing fund managers to view key information such as counterparty exposures and settlement reports in real-time. Point Nine has also supported the firm's recent move to a new fund administrator.

Chris Day, director of Merchant Capital, said, “Having run a multi-billion dollar, multi-fund platform before, we recognised the value of the Point Nine model in terms of cost, scalability and robustness. Prior to partnering with Point Nine, we knew that the management of the technology infrastructure plus the accompanying personnel represented a serious challenge. Our UCITS umbrella is now supported by a fully flexible and scalable architecture, without an internal IT footprint. Our recent move to a new fund administrator happened seamlessly thanks to Point Nine.”

Circle.2 interfaces with all third party vendors and their respective systems for seamless automated STP of most daily tasks. Trades are processed, tracked and reported via encrypted channels, which clients access through a secure internet browser to view, manage and fully analyse their portfolios.

Ambasuthan Jananayagam, partner at Point Nine, said, “A UCITS umbrella demonstrates the numerous advantages of our approach to SaaS [software as a service] delivered services...Funds running internal infrastructure would potentially have spent more on these two projects alone than the value of our entire operations outsourcing contract with Merchant Capital.”

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