This represents part of Point Nineâs continued development of its Middle Office business as more and more hedge funds seek to relieve themselves of the burden of maintaining an expensive middle office in house.
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 clientâs involvement is minimal and usually necessary only in the event of a mismatch, whilst Point Nine takes care of the manually intensive processes of integration with prime brokers, fund administrators and the DTCC. Point Nineâs solution offering significant cost saving and streamlined processing
âThis service leverages our expertise in the multi asset market because you have to be able to handle the complex as well as the vanilla instruments to provide a full service.â Comments Len Fricker of Point Nine.