Concept Capital and Paladyne Team up to Provide Leading Front-to-Back Technology Solutions to Hedge Funds.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Paladyne Systems, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , today announced that it has licensed its PALADYNE[TM] product suite to Concept Capital (www.ConceptCapital.com), the Prime Brokerage Prime Brokerage A special group of services that many brokerages give to special clients. The services provided under prime brokering are securities lending, leveraged trade executions, and cash management, among other things. Services division of Sanders Morris Harris Inc. Concept Capital provides accounting, administrative, proprietary trading Proprietary Trading When a firm trades for direct gain instead of commission dollars. Essentially, the firm has decided to profit from the market rather than commissions from processing trades. , risk management, compliance and marketing solutions to hedge funds, proprietary traders and third-party marketers. Concept Capital will use PALADYNE's front- and middle-office software in conjunction with their existing portfolio accounting system, Advent Geneva Geneva, canton and city, Switzerland Geneva (jənē`və), Fr. Genève, canton (1990 pop. 373,019), 109 sq mi (282 sq km), SW Switzerland, surrounding the southwest tip of the Lake of Geneva. [R], resulting in a fully integrated front- to back-office solution and a significantly expanded client service offering. Concept Capital is implementing the PALADYNE suite as a local installation and will directly host PALADYNE for external use by clients. Specifically, Concept Capital will offer their clients direct access to Paladyne's front- and middle-office tools, including order management, real-time P&L and portfolio management, data warehousing See data warehouse. data warehousing - data warehouse , custom reporting, and performance analysis, on a fully hosted ASP (Application Service Provider) basis. The seamless integration An addition of a new application, routine or device that works smoothly with the existing system. It implies that the new feature or program can be installed and used without problems. Contrast with "transparent," which implies that there is no discernible change after installation. of the PALADYNE suite with Concept Capital's existing back-office accounting and risk infrastructure will streamline operations, improve the accuracy and timeliness of data and reporting, and significantly increase the scope and scalability of client services. "In order to realize our vision of streamlined front-, middle-, and back-office full-service hedge fund services provider, we needed to complement our Advent Geneva[R] software with PALADYNE's integrated suite of products," said Mike Rosen, Managing Director of Concept Capital. "We believe that our service offering is truly unique, and with the PALADYNE infrastructure, we are now capable of servicing hedge funds of any size and complexity." "Our partnership with Concept Capital is another step forward in our vision to provide powerful technology solutions to the underserved small- and medium-size hedge funds," said Sameer Shalaby, Chief Executive Officer of Paladyne Systems. "Our comprehensive product suite scales to the needs of both start-ups and multi-strategy global hedge funds, allowing managers of all sizes to increase operational efficiencies, improve firm-wide reporting, and minimize operational risk," said Mr. Shalaby. About Concept Capital Concept Capital (www.ConceptCapital.com), the Prime Brokerage Services division of Sanders Morris Harris Inc., provides accounting, administrative, proprietary trading, risk management, compliance and marketing solutions to hedge funds, proprietary traders and third-party marketers. Our mission is to enable clients to customize our services on an as-needed basis to accommodate growth regardless of investment style and asset size. Concept Capital has 30 employees and is headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. with offices in Greenwich, Connecticut Greenwich is a town in Fairfield County, Connecticut, United States. As of the 2000 census, the town had a total population of 61,101. It is home to many hedge funds and other financial service companies that have left Manhattan. Of the $1. ; Garden City, New York Garden City, New York is a village in central Nassau County, New York in the USA, which was founded by multi-millionaire Alexander Turney Stewart in 1869. The village is located 18.5 miles to the east of mid-town Manhattan, on Long Island. ; Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , California; and Houston, Texas. Sanders Morris Harris Inc., Member NASD/SIPC, is a subsidiary of Sanders Morris Harris Group (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : SMHG), a financial services holding company headquartered in Houston, managing more than $10 billion in client assets. SMHG provides a full range of asset and wealth management, investment banking, and institutional services. Its operating entities include Sanders Morris Harris, Concept Capital, The Edelman Financial Center, Kissinger Financial Services, Salient Capital, SMH SMH Sydney Morning Herald (Australia) SMH St Michael's Hospital SMH Shaking My Head SMH Strong Memorial Hospital SMH Sanders Morris Harris Inc. SMH Screening for Mental Health, Inc. Capital Advisors, Select Sports Group, and SMH Partners. SMHG has more than 550 employees in 20 states. For additional information on Sanders Morris Harris Group, please visit www.smhgroup.com. About Paladyne Systems Paladyne Systems, LLC (www.paladynesys.com), a leading solutions provider for the hedge fund industry, develops and distributes technology designed to streamline hedge fund operations while providing business efficiency and cost savings throughout the organization. Paladyne offers a fully hosted technology platform known as the PALADYNE[TM] suite, which is capable of supporting the front- to back-office requirements of today's most comprehensive hedge funds. The PALADYNE[TM] suite is an integrated set of applications including: order management, portfolio management, portfolio accounting, global security master, analytics toolset, comprehensive portfolio pricing, custom reporting, and customer relationship management. Paladyne was formed through an acquisition of its technology platform from a large U.S.-based multi-strategy hedge fund. The PALADYNE suite includes the following modules: * Paladyne Portfolio Master[TM] - provides electronic trading, order management and allocation, portfolio management, real-time P&L, and strategy-based performance tracking. * Paladyne Analytics Master[TM] - provides portfolio analytics, data aggregation, and custom reporting tools. * Paladyne Security Master[TM] - provides a centralized terms and conditions repository and distribution engine with real-time updates and corporate action alerts. * Paladyne Price Master[TM] - provides automated collection, storage, and analysis of prices and market data from any third-party sources. * Paladyne Client Master[TM] - provides complete client relationship management including website integration and reporting. * Advent Geneva[R] - provides complete portfolio accounting solution including general ledger General Ledger A company's accounting records. This formal ledger contains all the financial accounts and statements of a business. Notes: The ledger uses two columns: one records debits, the other has offsetting credits. reporting, performance measurement, and portfolio reporting as part of Paladyne's hosted solution. |
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