NEW YORK (HedgeWorld.com)—Investment adviser Chilton Investment Co. has licensed Paladyne Security Master, Paladyne Systems LLC's securities reference data solution. Chilton also has licensed Paladyne's developmental toolkit and product adapters to standardize all security data.

Paladyne Security Master offers real-time portfolio alerts and corporate action, search and reporting capabilities and an over-the-counter setup. The system is available as an application service provider solution or as a local installation, according to a press statement. The model allows clients to gather multiple security data sources into a single database, and its real-time setup automatically receives new security requests from trading and risk applications. Implementation of the product will be complete in around two months.

"Maintaining consistent data across a disparate set of applications is a significant challenge that is … manually intensive and error-prone," said Jerry Goersch, chief investment officer of Chilton, in a statement. "By leveraging Paladyne Security Master, we plan to automate the setup of new securities to ensure that our securities data is consistent across our front-, middle-, and back-office applications."

Fidessa Rolls Out Bluebox at Maxim

NEW YORK—Maxim Group LLC, the investment banking and management firm, has gone live with Fidessa Bluebox, an integrated and scalable algorithmic trading solution that offers clients benchmark strategies and a framework for creating their own proprietary models.

Fidessa's trading platform has evolved into an algorithmic management system, meaning algorithmic trading abilities have been integrated with its order management system. Bluebox offers the latest algorithmic strategies integrated with Fidessa's market data and global connectivity.

"With Bluebox, we have been able to quickly move into the algorithmic space by leveraging industry-strength algorithms without the need to build and maintain our own technical infrastructure," said Maxim Group President James Orazio in a statement.

Riskdata Upgrades RM System

PARIS—Risk management solutions provider Riskdata has upgraded its flagship risk management system FOFiX to enable funds of funds to actively manage risk exposure and help asset managers create alpha.

New features allow clients to combine risk profiles of market instruments and fund managers to simulate risk across a portfolio. The enhanced system boosts risk controls and hedging ability and increases transparency to the fund of funds and asset management markets. The new version of FOFiX also compares return-based and position-based risk profiles to monitor managers' trading strategies and alpha sources.

"One of the major trends in the market right now is the split between the management of market exposure and the search for alpha," said Oliver Le Marois, chief executive of Riskdata, in a statement. "This is leading investors and fund of funds to add derivatives overlay to portfolios of managers in order to actively manage market exposure in line with their needs."

A.M. Rosenthal Goes Live With FNX

PHILADELPHIA—A.M. Rosenthal & Co., a foreign exchange trading solutions provider, is now using FNX Capital Market Solutions' application service provider solution, called Aspen, to support global FX over-the-counter trading operations.

Aspen offers clients real-time straight-through processing, real-time margin use and position management. A.M. Rosenthal, through FNX's SierraLink platform for interfacing with third-party systems, will be able to execute real-time electronic transactions.

"The interface capabilities of FNX's Aspen allows us to make more informed decisions," said Joe Conlan, director of FX at A.M. Rosenthal, in a statement. "Plus, the ASP model had us up and running within 90 days."

QuoteMedia Brings Real-time Pricing to IPBS

PHOENIX—Financial stock market data provider QuoteMedia Inc. has partnered with International Private Banking Systems to provide IPBS clients with real-time market pricing for online banking and trading, as well as for the back office.

QuoteMedia's proprietary data feeds have been integrated into IPBS as a subscription service to allow users to value securities and estimate trade-order costs in real time from a single source.

"As a modern service accessed via the web, with excellent technical support, many of our clients who currently use Bloomberg and Reuters for back-office market pricing and corporate data will be able to more easily and cost effectively access this crucial data from QuoteMedia," said Bruce Raine, founder and president of IPBS, in a statement.

ITG Adds Flexible Participation Algo to Suite

NEW YORK—Investment Technology Group Inc. added the Flexible Participation algorithm to its existing suite of trading tools, ITG Algorithms. Flexible Participation, in line with its name, allows users to choose their desired participation level in the market volume of a single stock at particular index or benchmark levels.

The algorithm allows access, through ITG's Dark Algorithm, to liquidity sources. The customized algorithm lets clients trade at specific participation rates all the time within a price limit. They also can vary their participation levels depending on intraday stock performance relative to an index or benchmark.

"The advanced customization of the Flexible Participation algorithm enables clients to simultaneously utilize four previously separate functions: varying volume participation, relative benchmarking, liquidity aggregation and opportunistic strategies," said Tony Huck, ITG's managing director, in a statement.

Editorial@HedgeWorld.com