Sun, Jan 25, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

IDS acquires middle office services of Prime Administration

Tuesday, July 09, 2013
Opalesque Industry Update - IDS Group is pleased to announce that it has acquired the middle office administration business of Prime Administration.

Last year IDS and Prime launched Centro, a joint middle office administration service between Prime, IDS Group and Point 9, an international software middle office software company. In working together in the joint venture it was found that there were excellent synergies in bringing in the middle office services fully under the IDS brand.

IDS will now have a full division called IDS Middle Office Services. The division is located in IDS House, Cape Town and is providing the following services:

Trade matching
Daily position reconciliation
Cash and asset settlements
Corporate actions processing
Margin movements
Reporting including shadow P&L
NAV and counterparty risk

In addition IDS will also continue to offer and expand the Manager Support Services offered by Prime to fund managers wanting to outsource their day to day business support functions.

IDS is also delighted to inform you that the founder of Prime Services, Graeme Rate has joined IDS to run the division and will also represent the division on the IDS Group board.

Please contact me or Graeme: graeme.rate@idsfundservices.com if you require any further information. Tony Christien can also be contacted but only after his return to office on the 22nd July.

(press release) IDS

PD

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Commodities - Druckenmiller alums at PointState make $1 billion on oil, Andurand Capital sees oil sliding to $40[more]

    Druckenmiller alums at PointState make $1 billion on oil From Bloomberg.com: Hedge fund manager Zach Schreiber stood on stage at Avery Fisher Hall in New York eight months ago and made a bold prediction. “We believe crude oil is going lower -- much lower,” Schreiber, 42, told the audienc

  2. Investing - David Einhorn discloses a new position in Time Warner, Canyon trimming bets on mortgage bonds after making $7bn[more]

    David Einhorn discloses a new position in Time Warner From FTLeavenworthlamp.com: …Einhorn also disclosed a new position in Time Warner. "Since 2009, TWX has refocused its business into a collection of high quality assets including basic cable networks (Turner and CNN), a movie studio (

  3. Top performing private equity firms you should invest in[more]

    Komfie Manalo, Opalesque Asia: Professor Oliver Gottschalg of Paris-based HEC Business School, also known as Ecole des Hautes Etudes Commerciales de Paris has released his annual ranking of the top performing private equity firms. The 2014 HEC-DowJones Private Equity Performance Ranking

  4. Comment - Why invest in hedge funds if they don't outperform the market?[more]

    From Forbes.com: Hedge funds have always been a bit exotic and an enigma to some, but bottom line they are supposed to produce good returns using a range of strategies including global macro, event driven and relative value (arbitrage). And, sophisticated or high-net-worth individuals (HNWIs) could

  5. Owen Li 'truly sorry' for blowing up $100m of hedge fund’s assets[more]

    From CNBC.com: A hedge fund manager told clients he is "truly sorry" for losing virtually all their money. Owen Li, the founder of Canarsie Capital in New York, said Tuesday he had lost all but $200,000 of the firm's capital—down from the roughly $100 million it ran as of late March. "I take r