03.11.2008 – 15:07
Citadel Solutions Implements Asset Control to Support its Growing Customer Base
New York, November 3 (ots/PRNewswire)
- Asset Control's AC Plus Streamlines Data Capture and Standardizes Distribution
Asset Control, a world-wide leader in financial data management solutions, today announced that Citadel Solutions LLC, a wholly-owned independent subsidiary of Citadel Investment Group, LLC, has implemented Asset Control's AC Plus data management software.
Citadel Solutions delivers Operational Alpha(R) to hedge funds through its technology-driven hedge fund administration services and uses AC Plus as a primary data management platform for supporting its fast growing fund administration business.
AC Plus supports Citadel Solutions' middle- and back-office services through the delivery of market data to Citadel Solutions' proprietary fund administration system. By combining this proprietary technology with the AC Plus' flexible data model, Citadel Solutions has the ability to perform a broad range of critical data analyses. AC Plus provides Citadel Solutions' hedge fund clients with faster time to market in servicing new products regardless of complexity, along with increased transparency and the ability to scale easily for rapid growth.
John Buckley, president of Citadel Solutions, said, "Having proved the superior value of robust middle- and back-office technology within Citadel Investment Group, we wanted to offer this same functionality to other hedge funds in the early stages of growth. AC Plus was quick and easy to implement, while providing a robust foundation that is flexible and extensible enough for the diverse and varying needs of our clients."
Phil Lynch, Asset Control's president and chief executive officer, said, "Citadel Solutions' decision to use AC Plus for its fund administration services demonstrates the value of robust data management and its potential to generate revenue. Asset Control helps to take the operational burden out of data management, with Citadel Solutions as an example of a firm that is harnessing AC Plus' capabilities to streamline data capture and standardize its distribution. By using AC Plus to enrich the platform it provides, Citadel Solutions is able to gain a competitive advantage through the application of advanced technologies."
About Citadel Solutions
Launched in 2007, Citadel Solutions provides technology-driven fund administration and reporting services to hedge funds that operate across a broad range of investment strategies. With approximately $30 billion in assets under administration, Citadel Solutions leverages Citadel's best-in-class infrastructure and leading-edge technology to provide Operational Alpha(TM) to its clients.
About Asset Control
Asset Control provides centralized data management solutions for financial institutions worldwide. From business-entity to firm-wide projects, Asset Control offers a strategic reference and market data platform that delivers the accuracy, consistency and relevancy firms need to reduce costs and risk, manage evolving compliance needs, and accelerate the delivery of new products and services. A Fidelity Ventures company, Asset Control serves some of the world's most successful financial institutions. For more information, visit http://www.asset-control.com.
Trademark Information: Asset Control, the Asset Control logo and AC Plus are trademarks or registered trademarks of Asset Control Systems, Inc. or its subsidiaries or affiliates in the U.S. and/or other countries. All other trade names are trademarks or registered trademarks of their respective holders.
ots Originaltext: Asset Control International
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