Wed, May 23, 2018
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. News Briefs - Warren Buffett: Target date funds aren't the way to go, Cambridge Analytica could be reborn under a different name[more]

    Warren Buffett: Target date funds aren't the way to go Planning for retirement can be complicated and stressful. This is why target date funds - funds that are managed based on when you expect to retire - are so attractive. Over time, the balance of stocks, bonds and cash evolve automati

  2. Investing - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  3. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven