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Impax Asset Management Selects Linedata’s LongView Trading, LyNX and Compliance

Linedata Services (LIN:FP), the leader for investment software, solutions and services, today announced that Impax Asset Management (Impax), the specialist environmental investment company, has selected and implemented the award-winning LongView Trading order management system (OMS), LyNX and Linedata Compliance software.

Impax, a specialist finance house focusing on the markets for cleaner or more efficient delivery of basic services of energy, water and waste, is a fast-growing concern in an expanding industry sector. An existing customer of Linedata’s Beauchamp Hedge Fund Solutions, Impax were looking for a front-office and compliance system which would help them manage their business. Scalability was key, to accommodate the organisation’s aggressive growth plans (AUM have grown by nearly 28%, to £1,256m in the six months to May this year), as was proven speed of deployment; the aim was to have straight-through processing, up and running as quickly as possible. ASP delivery was also critical, as Impax did not want the overhead of running a large IT operation.

Linedata’s LongView Trading front-office solution, LongView LyNX fully managed electronic trading service and Linedata Compliance were selected, providing a seamless electronic trading, pre- and post-trade compliance workflow. The user-configurable rule set in Linedata Compliance proved particularly attractive to Impax, who were able to quickly define parameters in line with their environmental approach.

Within ten weeks of signing, Impax were live on the system and trading electronically through the LyNX service. This rapid deployment, essential to meet an exacting business timetable, was achieved through Impax and Linedata Services working in partnership.

Darren Johnson, Head of Operations, Impax, commented, "Our business is expanding rapidly, so we looked for a system that would be fast to deploy and scalable. LongView Trading and Linedata Compliance, in conjunction with our existing Beauchamp FundManager system, give us the straight-through processing and pre-trade monitoring we need. Linedata also offer a true ASP solution, which was key, as we are a dynamic organisation focused on growing our core business, not on managing IT solutions.”

David Bilbé, Managing Director, Linedata Services Northern Europe, said, "We’re delighted to be working with Impax. Their business is typical of the asset management firm that our unique ASP service is attracting: a growing concern with changing needs requiring a full product suite but without the overhead of running it in house.”