Tue, Oct 17, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

PrimeOne solutions launches, Scotiabank adopts prime brokerage platform

Monday, September 17, 2012
Opalesque Industry Update: CoreOne Technologies, the leading global provider of financial data creation, aggregation management and distribution services, today launched PrimeOne Solutions, a business unit that offers an end-to-end global prime brokerage technology and services platform. In addition, PrimeOne announces that Scotiabank, Canada’s most international bank, has officially begun operating on the platform for both Reg T., enhanced prime finance and synthetic prime.

With the launch of PrimeOne Solutions, CoreOne Technologies now offers physical and synthetic prime brokerage, and securities lending operating platforms to go along with their current stable of cutting-edge financial systems.

“Expansion of the Prime Services business in the US is a critical strategic initiative for Scotiabank’s Global Banking and Markets division. We selected the PrimeOne platform because we were confident that it met our clients’ current and emerging needs. We were quite satisfied to see the project completed and the platform enabled in the timeframe we required,” said John Stracquadanio, Global Head of Prime Services for Scotiabank.

“We built the PrimeOne business with companies like Scotiabank in mind, delivering comprehensive and advanced capabilities in a more efficient manner within a quantifiable budget,” said EJ Liotta, Global Head of PrimeOne Solutions. “The new PrimeOne platform provides both new entrants and existing players in the prime sector advanced capabilities, which were previously achieved through proprietary development by a select group of bulge bracket institutions.”

PrimeOne’s eight-month implementation for Scotiabank was tailored to best serve the bank’s hedge fund clients in the US marketplace. Scotiabank chose PrimeOne’s fully hosted solution, including third party applications and is already delivering robust, end-to-end prime brokerage and prime finance capabilities.

PrimeOne Solutions is a unique technology enterprise, leveraging proven systems acquired from leading investment banks, and delivered by a veteran team of industry practitioners as hosted services. The newly launched platform offers a full spectrum of bundled and unbundled services including equity finance, stock loan, physical and synthetic prime; and accommodates the most complex business requirements such as arranged finance, asset-based billing, tri-party, re-hypothecation and risk-based margin.

“By delivering a mix of proven functionality with a modern, utility-based deployment model, PrimeOne Solutions can slash both time to market and operating costs by up to 90%,” added Liotta.

PrimeOne Solutions

Press Release

BM

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. Regulatory - David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge, Carried interest tax: How much does it matter?, Odey sees 'terrifying' mix in MiFID, tapering, asset values, Hedge funds come together to share cost of MiFID and research, SEC turns up the heat on U.S. investment advisers, India's Sebi asks hedge funds to report investments in commodity derivatives[more]

    David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge From CNBC.com: David Stockman is warning about the Trump administration's tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off. Stockman, the R

  2. North America - Puerto Rico rejects loan offers, accusing hedge funds of trying to profit off hurricanes[more]

    From TheIintercept.com: Puerto Rico has rejected a bondholder group's offer to issue the territory additional debt as a response to the devastation of Hurricane Maria. Officials with Puerto Rico's Fiscal Agency and Financial Advisory Authority said the offer was "not viable" and would harm the islan

  3. Investing - WPP targeted by short-selling American hedge fund, Sun co-founder sells secretive hedge fund on big chip trade[more]

    WPP targeted by short-selling American hedge fund From Cityam.com: An American hedge fund has mounted a bet against WPP, the world's largest advertising group, with a trade worth almost £90m. Lone Pine Capital has built a short position worth 0.51 per cent of the FTSE 100 company,

  4. Hedge funds up as industry adjusts to rising rates[more]

    Komfie Manalo, Opalesque Asia: Hedge funds have reshuffled their portfolio after nearly four weeks of rising rates as the Lyxor Hedge Fund Index was up +0.2% from 19 September to 26 (+1.1% YTD), fuelled by strong results of global macro funds, Lyxor Ass

  5. Manager Profile - How the world's hedge fund king used 'idea meritocracy' to become a billionaire[more]

    From Forbes.com: In 1982, Ray Dalio made what he calls the biggest mistake of his life. He made a bet that there would be an economic collapse stemming from a debt crisis. And he was wrong. He lost money. He lost his client's money. He had to let people go from his firm and borrow money from his dad