Point Nine Financial Technologies augments software business by offering extensive cross product middle office services

London - 2 May 2007

Point Nine announced today that it is offering comprehensive middle office services to the hedge fund and asset management community. This move reflects the growing requirement in the industry for a solution which allows traders to concentrate on trading without worrying about the manually intensive downstream process of integration with prime brokers, fund administrators and the DTCC. Point Nine’s solution offers significant cost saving and streamlined processing.

The client executes the trade and simply sends the recap to Point Nine who handle it from there on. The client is notified to authorise payment after reconciliation. The client’s involvement is minimal and usually necessary only in the event of a mismatch. The full range of instruments is covered from equities to complex credit derivatives. “This service leverages our expertise in the credit derivative market because you have to be able to handle the complex as well as the vanilla instruments to provide a full service.” Comments Len Fricker of Point Nine.

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