Wed, Feb 22, 2017
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. People - Kuwait wealth fund head Al Saad said to step down after 14 years[more]

    From Bloomberg.com: Kuwait Investment Authority is set to name Farouk Bastaki as managing director, replacing Bader Al Saad who ran the world's fifth-largest sovereign wealth fund for 14 years, a person familiar with the matter said. The KIA, as the fund is known, is finalizing the appointment, said

  2. Manager Profile - Eddie Lampert: a painful entanglement with Sears[more]

    From Moneyweek.com: "In the long run we are all dead." Lex in the Financial Times reached for the famous quote from John Maynard Keynes in January when, after a long and unforgiving decline, the clock finally appeared to be running out on Sears, the iconic US department store group. Yet the group's

  3. Investing - Hedge funds quit Aberdeen shorts as shares begin to recover, Hedge funds' next big short: U.S. malls, O'Connor fund owns 9.5% of Protalix Biotherapeutics, U.S. hedge fund takes position in Macau hotel The 13[more]

    Hedge funds quit Aberdeen shorts as shares begin to recover From Investmentweek.co.uk: The last two hedge funds to short Aberdeen Asset Management have removed their positions, as the fund group's shares begin to show signs of recovery after a difficult few years. According to the Financ

  4. Latin America, high yields and Asia Pacific strategies dominate hedge fund returns in January[more]

    Komfie Manalo, Opalesque Asia: Latin America (+7.04%), high yield (5.63%), and Asia-Pacific (+5.06%) strategies dominated hedge fund performance in January, data provider Hennesee Fund Research said. The bottom three strategies for the mont

  5. Investing - Hedge funds loading up on this dividend stock, The biggest hedge funds have been piling into bank stocks[more]

    Hedge funds loading up on this dividend stock From Incomeinvestors.com: Hedge funds are backing up the truck on Cameco Corp stock. Billionaire Jim Simons owns 389,000 shares. Other Wall Street titans - including Ray Dalio, Ken Griffin, and Chuck Royce - have been quietly building positio