Asset Control says a New York-based hedge fund with net assets under management of over $12 billion has purchased its reference data management application, AC Plus. The name of the hedge fund is undisclosed.
Asset Control says the hedge fund will be the first user of a Java Message Service (JMS) interface which will broaden communications from AC Plus to other systems, and so improve links between AC Plus and the firm’s existing front, middle and back office applications.
“JMS technology helps address the desire of financial institutions to shorten implementation cycles and keep costs under control,” says David Hirschfeld, Senior VP of Operations, Asset Control. “This integration framework dramatically expands the standards-based integration options of AC Plus allowing much faster and tighter integration with the downstream systems of our clients.”
“Asset Control’s product development strategy is strongly influenced by the needs of our customers and future customers,” adds Ger Rosenkamp, CEO, Asset Control. “Our hedge fund clients have complex requirements so it is particularly pleasing that our product vision is appreciated by the hedge fund industry and has resulted in another new customer from this community.”