|By Business Wire||
|July 15, 2014 09:14 AM EDT||
Options, the leading private financial cloud provider for the global capital markets industry, today announced that it has partnered with Orchestrade Financial Systems to deploy its fully integrated position keeping, operations and risk management software to the Options platform. The partnership sees the IaaS provider offer clients a flexible, fully managed and hosted platform for cross-asset trading.
Orchestrade boasts best-in-class technology that enables the management of risk and operations across all asset classes in an efficient and cost-effective manner. Crucially, the software offers the ability to manage in real time portfolio holdings, measure risk and run operations on one single platform.
The Options-Orchestrade solution has been deployed as part of the Options’ Momentum service offering, a key component of the Options Private Financial Cloud platform. Momentum is an optimized managed hosting service for all front, middle and back-end office financial applications.
Samuel Farmer, Options VP of Business Development, commented, “The ever-evolving nature of today’s global capital markets, coupled with an increasingly onerous regulatory environment, have placed a strain on the typical cross-asset solutions employed by many hedge funds. Options’ partnership with Orchestrade offers a cost-effective alternative to these often-outdated solutions in the form of a turnkey platform that is both flexible and fully integrated, end-to-end. We are delighted with today’s announcement and look forward to bringing the Orchestrade solution to our clients and the wider market.”
“Options is a firm with a well-established pedigree and history of service excellence in the managed hosting of financial applications,” said Fabrice Penot, Business Development at Orchestrade. “This, alongside a compelling product offering makes for a very exciting partnership. Orchestrade deployed and managed via the Options platform drastically lowers the previously significant expense in building and maintaining a cross-asset solution that is robust and agile enough to satisfy both client and market demands. We’re delighted with the initial deployments and look forward to building upon these early successes.”
Mike Williamson, Chief Technology Officer at Renshaw Bay, who were among the first hedge funds to leverage the new platform, also commented, “Renshaw Bay has recently implemented Orchestrade as hosted by Options and we’ve been hugely impressed with both the product and the accompanying fully managed service. A flexible solution, combined with the security of a fully resilient, stable platform is crucial to our global technology operations and the Orchestrade-Options offering provides decisive peace of mind in this regard.”
About Options (www.options-it.com):
Options is the premier provider of infrastructure products to the Global Financial Services sector. Founded in 1993, the company began life as a hedge fund technology services provider. More than a decade ago, the company made a strategic decision to, become the first provider to offer cloud services to the financial sector. The result was the Options PIPE® Platform and the "Private Financial Cloud" offering. Today over 150 firms globally leverage Options PIPE®, including the leading global investment banks, hedge funds, funds of funds, proprietary trading firms,, private equity houses and exchanges.
About Orchestrade (www.orchestrade.com)
Orchestrade Financial Systems is a technology company founded in 2009 specializing in software for capital markets firms. After the financial market turmoil of 2007/2008, it was clear that the finance industry required a better platform for visibility from front to back office processes as well as a less complicated way to institute the new regulatory landscape. Comprised of industry veterans Orchestrade has created a solution that manages risk and operations across all asset classes on a single platform. To date Orchestrade has been implemented in leading financial institutions in North America, Europe and Asia. With offices in New York, Paris, Silicon Valley, London and coming soon to Hong Kong, our team delivers results on a global basis.
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