Maxim chooses SunGard for prime brokerage accounting
30 October 2013 New York
Image: Shutterstock
Maxim Group, an investment banking and brokerage firm, has selected SunGard鈥檚 VPM. The accounting platform will help Maxim Group to improve its client service by providing portfolio accounting and reporting capabilities.
Maxim Group鈥檚 integration of the platform has been designed to deliver minimal reconciliation overheads. VPM physically stores all of Maxim鈥檚 investment activity to improve data accuracy.
Seth Michaels, head of prime brokerage services, said: 鈥淎s our investor requirements continue to call for increased transparency and reporting for hedge fund portfolio accounting, our need grew for a powerful, user-friendly product with a highly scalable infrastructure. We chose SunGard based on the strength of its name in the industry and recognition amongst top tier hedge funds.鈥�
The implementation of SunGard鈥檚 VPM was completed in three months. Maxim Group has been a SunGard customer for 11 years and also currently uses SunGard鈥檚 Global Network and SunGard鈥檚 Valdi pre-trade compliance system.
Scott Alintoff, chief operating officer of SunGard鈥檚 asset management business, said: 鈥淭his implementation is significant and is a testament to the prime brokerage industry鈥檚 need for transparency and automation.鈥�
Maxim Group鈥檚 integration of the platform has been designed to deliver minimal reconciliation overheads. VPM physically stores all of Maxim鈥檚 investment activity to improve data accuracy.
Seth Michaels, head of prime brokerage services, said: 鈥淎s our investor requirements continue to call for increased transparency and reporting for hedge fund portfolio accounting, our need grew for a powerful, user-friendly product with a highly scalable infrastructure. We chose SunGard based on the strength of its name in the industry and recognition amongst top tier hedge funds.鈥�
The implementation of SunGard鈥檚 VPM was completed in three months. Maxim Group has been a SunGard customer for 11 years and also currently uses SunGard鈥檚 Global Network and SunGard鈥檚 Valdi pre-trade compliance system.
Scott Alintoff, chief operating officer of SunGard鈥檚 asset management business, said: 鈥淭his implementation is significant and is a testament to the prime brokerage industry鈥檚 need for transparency and automation.鈥�
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