Wed, Apr 16, 2014
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   |   
Banner
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. CTAs could face new challenges in a rising rates environment[more]

    Bailey McCann, Opalesque New York: CTAs have taken a beating performance wise lately, and asset flows reports show that investors aren't sticking around to see how the movie ends. Now, a new white paper from Roy Niederhoffer and Coen Weddepohl notes that as interest rates start to tick back u

  2. Investing – Big hedge funds bought Puerto Rico's junk bonds, Fidelity explores new trading venue amid flash trade concerns, Crisis-era Greek bonds reward early buyers with big effective returns, Cargill unit discloses stake in Freddie preferred[more]

    Big hedge funds bought Puerto Rico's junk bonds From Reuters.com: Several large hedge funds doubled down on Puerto Rico in last month's giant bond sale despite the U.S. territory's financial struggles, the Wall Street Journal reported, citing confidential documents reviewed by the newspa

  3. Commodities – Popular value fund manager David Iben bets on Russia, gold,[more]

    From Reuters.com: With large bets on Russia and North American gold miners, one of the best performing stock pickers in the wake of the 2008 financial crisis is back with a new fund that reflects his deep aversion to following the crowd. In the Kopernik Global All-Cap Fund, David Iben is follo

  4. Opalesque Exclusive: Pensions, endowments, family offices reconsider life settlement investments[more]

    Bailey McCann, Opalesque New York: Hedge funds were once the largest investors in the life settlement industry, now the industry is seeing more interest from pensions, endowments and family offices directly. Life settlements have always been considered a niche part of the investing landscape, an

  5. SEC allows investment funds to use social media[more]

    Bailey McCann, Opalesque New York: The Securities and Exchange Commission (SEC) has released new guidance letting investment funds and advisors use social media to promote client reviews. The guidance seeks to assist investment managers in developing compliance policies and procedures reasonably