PrimeOne releases SwapCloud
24 October 2012 New York
Image: Shutterstock
PrimeOne Solutions has launched multi asset class swap system SwapCloud, which covers equities, converts, corporates, sovereign debt, futures, participatory notes, and American depository receipts.
SwapCloud is designed to consolidate swaps across multiple prime brokers and provide the foundation for all swap trading activities, including regulatory reporting infrastructure for the US Dodd-Frank Act, the HIRE Act and the Foreign Account Tax Compliance Act.
PrimeOne Solutions deploys SwapCloud. The system is live with clients across Asia, Europe and North America.
“We are excited to be the first provider to deliver a swap application to the buy side,” said EJ Liotta, global head of PrimeOne Solutions. “We believe the market is ready to enhance its level of operational controls and implement a robust and scalable technology strategy that addresses the regional complexities of the swap markets.”
“The uniqueness of the product, coupled with the cloud-based deployment model, fits well in an environment where firms are looking for a safe and speedy response to global regulatory demands, while seeking the lowest cost of technology ownership.”
PrimeOne Solutions launched in September, taking on Scotiabank as a client. It provides the bank with end-to-end prime finance capabilities and services its prime services clients in the US marketplace.
The firm recently released SynPrime, an equity swap platform that provides investment banks and hedge funds with all aspects of managing and valuing synthetic trading activities, including financing capabilities, profit and loss, dividend workflows, resets and commissions.
SwapCloud is designed to consolidate swaps across multiple prime brokers and provide the foundation for all swap trading activities, including regulatory reporting infrastructure for the US Dodd-Frank Act, the HIRE Act and the Foreign Account Tax Compliance Act.
PrimeOne Solutions deploys SwapCloud. The system is live with clients across Asia, Europe and North America.
“We are excited to be the first provider to deliver a swap application to the buy side,” said EJ Liotta, global head of PrimeOne Solutions. “We believe the market is ready to enhance its level of operational controls and implement a robust and scalable technology strategy that addresses the regional complexities of the swap markets.”
“The uniqueness of the product, coupled with the cloud-based deployment model, fits well in an environment where firms are looking for a safe and speedy response to global regulatory demands, while seeking the lowest cost of technology ownership.”
PrimeOne Solutions launched in September, taking on Scotiabank as a client. It provides the bank with end-to-end prime finance capabilities and services its prime services clients in the US marketplace.
The firm recently released SynPrime, an equity swap platform that provides investment banks and hedge funds with all aspects of managing and valuing synthetic trading activities, including financing capabilities, profit and loss, dividend workflows, resets and commissions.
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