Wall Street and Technology – Citigroup Deploys Linedata Hedge Fund Solution
Linedata Services recently announced the licensing of its Beauchamp Hedge Fund Solution to Citigroup’s GlobalTransaction Services and Prime Brokerage divisions. Branded as OpenPrimeSM, the new Citigroup operating platform developed specially for the hedge fund market will be backed by Beauchamp’s full product suite as a hosted solution and offered to Hedge Fund managers.
The Beauchamp suite provides full front-to-back functionality, including electronic trading, real-time positions/P&L and fund accounting. The software is multi asset class, multi currency and interfaces with multiple executing and prime brokers. It includes Beauchamp’s leading real-time portfolio management capability that allows aggregation and examination of portfolios with fully weighted P&L and almost limitless custom reporting capability. The interfaces to multiple prime brokers are automated and include automatic reconciliations.
“The Beauchamp product suite is a core component of our initial offering, which we will integrate with a number of Citigroup’s prime brokerage, execution and fund services products and solutions,” said Nobel Gulati, managing director at Citigroup Global Markets, in a release.
