NEW YORK, NY – March 6, 2007 – Paladyne Systems, LLC today announced that it has licensed its PALADYNE™ product suite to Concept Capital (www.ConceptCapital.com), the Prime Brokerage Services division of Sanders Morris Harris Inc. Concept Capital provides accounting, administrative, proprietary trading, 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®, 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, custom reporting, and performance analysis, on a fully-hosted ASP (Application Service Provider) basis. The seamless integration 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® 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 manager’s 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 with offices in Greenwich, Connecticut, Garden City, New York, Los Angeles, California and Houston, Texas.
Sanders Morris Harris Inc., Member NASD/SIPC is a subsidiary of Sanders Morris Harris Group (NASDAQ: 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 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, Inc. (www.paladyne.com), a leading global 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™ suite which is capable of supporting the front- to back-office requirements of today’s most comprehensive hedge funds. The PALADYNE™ suite is an integrated set of applications including: order management, portfolio management, general ledger, global security master, pricing and valuation, data warehousing, and custom reporting. Paladyne was founded in 2005 through an acquisition of its technology platform from a large US-based multi-strategy hedge fund.
The PALADYNE suite includes the following modules:
- Paladyne Portfolio Master™ – provides order management and allocation, portfolio management, real-time P&L, and strategy-based performance tracking.
- Paladyne Analytics Master™ – provides portfolio analytics, data aggregation, and custom reporting tools.
- Paladyne Security Master™ – provides a centralized terms and conditions repository and distribution engine with real-time updates and corporate action alerts.
- Paladyne Price Master™ – provides automated collection, storage, and analysis of prices and market data from any third-party sources.
- Advent Geneva® – provides complete portfolio accounting solution including general ledger reporting, performance measurement, and portfolio reporting as part of Paladyne’s hosted solution.
CONTACT:
Media Contacts
Scott Alderson, Paladyne US Sales
(212) 616-4306
salderson@paladynesys.com
David Simmonds, Paladyne European Sales
+44 (0) 20 7153 4958
dsimmonds@paladynesys.com
Lisa Jane O'Neil, Paladyne Media
212-786-7629 or 917-361-8303
lisajane@ljoassociates.com
Concept Capital
Mike Rosen, Managing Director
(516) 746-5723
mrosen@conceptcapital.com