New York (HedgeCo.net) The winners of the 2009 International Custody and Fund Administration (ICFA) Awards were announced on 25th November, 2009 at Grosvenor House, London. Point Nine, hedge fund middle and back office services won the award for Most Innovative European Project of the Year at the 2009 ICFA Awards.

Point Nine’s new Counterparty Risk and associated Collateral Management outsourcing service took top honours for Most Innovative European Project of the Year, beating out BNP Paribas Securities Services, Brown Brothers Harriman, Butterfield Fulcrum, Citi and Northern Trust.

“Counterparty Risk Management is receiving significant focus from regulatory bodies across the globe, as new financial regulations are expected to force financial institutions that undertake derivative transactions to monitor their counterparty risk exposures accurately and in real time,”, said Yannis Matsis, CEO Point Nine. “Our new service is unique and will help our clients with their regulatory and compliance requirements. We are thrilled to have won such a prestigious award from the ICFA, as they are an innovative and informative publication, providing comprehensive global coverage of middle and back office issues to our industry.”

Editing by Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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