Linedata Services, a global leader in the financial technology market, today announced that its first European LongView ASP client is live. River and Mercantile Asset Management LLP selected the solution in summer 2006 and went live at the end of November 2006.
LongView ASP is Linedata's hosted portfolio management, order management and compliance system, including LyNX, its fully managed electronic trading service. The solution provides secure end-to-end processing to fully support River and Mercantile's investment management business.
As a new business, River and Mercantile was looking for a sophisticated solution that did not require a large initial investment in terms of finance, IT and human resources. Linedata's LongView ASP service was selected as it was able to meet all River and Mercantile's functional requirements as well as providing outsourced IT infrastructure, disaster recovery and connectivity.
Julian Cripps, Chief Operating Officer at River and Mercantile, commented, "The implementation of LongView ASP has been successful and delivered within the agreed timeframes. The package of trade order management, compliance and electronic trading within an ASP environment is ideal for our business, and provides us with superior operational and cost efficiencies. The Linedata team supporting this solution has been technically strong, and I look forward to working with them in the future."
Paul Roberts, Chief Operating Officer for Linedata Services, Europe, said, "I am pleased with the successful implementation of our first European LongView ASP customer, and look forward to continuing to work with River and Mercantile as their business grows. The solution has already proven to be very popular in North America, and I expect to see increasing interest in Europe as front office operations within the buy-side community become more familiar with the ASP model."
Linedata Services has 20 years experience in delivering ASP solutions, and is unique in being able to offer the asset management industry a complete set of best-of-breed software products, spanning front to back-office, through an ASP model.