PrimeOne addresses Canadian PBs
23 January 2014 Toronto
Image: Shutterstock
PrimeOne Solutions, a division of CoreOne Technologies, has released an end-to-end solution for Canadian prime brokers to try and accommodate unique Canadian securities regulation.
PrimeOne Canada offers integration to various systems for straight-through processing, including settlement via CDS (Canadian Depository for Securities), as well as financial control systems in Canada for margin, accounting and risk management.
It is also set up to facilitate triparty relationships for collateral held outside of the prime broker.
Chris Chanod, the head of business development for PrimeOne, said: “It’s no secret Canadian banks have become desirable counterparties for hedge funds. As Canadian banks have stepped in they are keen to leverage our platform we packaged for Canada, in order to reduce the cost and increase the speed-to-market entering the space or increasing their footprint."
"Our unique offering of a hosted, managed service for cash and synthetic prime brokerage and prime finance capabilities offers a flexible entry into a lucrative market.”
PrimeOne Canada offers integration to various systems for straight-through processing, including settlement via CDS (Canadian Depository for Securities), as well as financial control systems in Canada for margin, accounting and risk management.
It is also set up to facilitate triparty relationships for collateral held outside of the prime broker.
Chris Chanod, the head of business development for PrimeOne, said: “It’s no secret Canadian banks have become desirable counterparties for hedge funds. As Canadian banks have stepped in they are keen to leverage our platform we packaged for Canada, in order to reduce the cost and increase the speed-to-market entering the space or increasing their footprint."
"Our unique offering of a hosted, managed service for cash and synthetic prime brokerage and prime finance capabilities offers a flexible entry into a lucrative market.”
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