Maxim Adds SunGard's VPM for Prime Brokerage Accounting

Maxim Group, an investment banking, securities and investment management firm, has added SunGard’s VPM solution for portfolio accounting and reporting for Maxim’s prime brokerage clients.

The VPM solution provides automated, real-time accounting and can work across asset classes and currencies. The solution also provides both standardized and customized reporting of portfolio holdings and data, which Maxim will offer to clients as it tries to grow its prime brokerage offering.

“We are seeing a growing demand from our clients for increased reporting capabilities in the brokerage industry. Having the ability to expose certain information directly onto client systems is now paramount to ensure that our services bring value-add capabilities for portfolio accounting. Transparency and increased operational efficiency are therefore essential elements to achieving this. By installing SunGard’s VPM it means that we now have a comprehensive automated portfolio accounting offering to clients that can scale up as our business needs change and ensure we can offer our clients the on-demand transparency they need,” says Seth Michaels, managing director, head of prime brokerage services at Maxim Group.