Paladyne Systems has extended its global capabilities for Paladyne Portfolio Master, its combined order management and portfolio management solution, to help clients meet the Hong Kong Securities and Futures Commission’s (SFC) requirements for fund managers to disclose net short positions next month.
The SFC Rules come into effect June 18, with the first reporting day and reporting deadline being June 22 and June 26, respectively. All fund managers holding short positions in Hong Kong stocks will be required to comply.
Paladyne Portfolio Master streamlines these reporting requirements by automatically importing the universe of SFC’s specified companies that require short sale disclosure. It also allows clients to generate daily monitoring reports, and weekly disclosure to the SFC on relevant short positions that fulfill the certain thresholds.
Paladyne has built an institutional framework that positions investment firms to be able to respond to global rule changes and other regulatory and compliance requirements rapidly and on time, said Sameer Shalaby, President, Paladyne Systems. As a result, fund managers and service providers can fulfill their reporting obligations, including internal compliance and approvals checks, in a timely manner with minimal manual intervention.
Paladyne Portfolio Master combines multi-asset class Order Management System (OMS) and Portfolio Management System (PMS) functionality including broker-neutral trading, shadow accounting, and portfolio management in a single hosted solution.
The firm released version 8.0 of Portfolio Manager in Feburary, with new features including Borrow Fee Manager, which automates and calculate post-trade borrow costs; UCITS compliance; new modeling and valuation tools; and integration with Omgeo CTM, for electronic matching or orders and confirmation of allocations. It has also expanded integration with popular algos, added connectivity to an additional 200 global brokers and integrated new third-party market data.
(CG)