* Sophis' commitment to region reflected in growth of sales and implementation staff
* Increased investment flows expected to drive Asian hedge funds' technology requirements in 2006
Hong Kong, 24 February, 2006 - Sophis, a leading provider of cross-asset, front-to-back-office solutions for buy and sell-side institutions, is marking the first anniversary of the opening of its regional HQ in Hong Kong with the announcement of 10 new hedge fund clients in the region, putting the total number of Sophis clients in the region to 25.
Sophis, which has had an office in Japan since 1998 and a Hong Kong presence since 2002, has seen sales growth in the last 12 months from both local hedge funds and the Asian arms of European and US-based funds. VALUE, Sophis' cross-asset, front-to-back-office risk and portfolio management system for hedge funds, now has more than 70 users in the region. The opening of the regional HQ in February 2005 represented an expansion of Sophis' existing Hong Kong capabilities to support growing demand. The office headcount has exceeded 10 in the past 12 months and is expected to grow further in the next 12-18 months.
HervÃ© Vinciguerra, CEO, Sophis, commented, "We have been firmly committed to the Asian market for the last eight years and believe that our success in 2005 demonstrates our strong position among hedge funds in the Hong Kong market particularly. As more investment pours in over the coming years, Asia's hedge funds will rely heavily on technology to support their increasingly diverse and complex trading strategies. I expect Sophis' solutions to continue to thrive in a market that values instrument coverage, risk management capabilities and local knowledge."
Sophis celebrated the anniversary of its Hong Kong office yesterday (23 February) with a wine-tasting party to thank its clients and close business partners.