Linedata Services says that the first European buyer of its LongView order management system on an ASP basis is River and Mercantile Asset Management. The fund manager bought the application last summer, and went live at the end of November 2006.
LongView ASP is Linedata’s hosted portfolio management, order management and compliance system, including LyNX, its electronic trading service.
Linedata says that, as a new business, River and Mercantile was looking for a system that did not require a large initial investment in terms of finance, IT and people.
Linedata’s LongView ASP service was selected as it was able to meet all River and Mercantile’s functional requirements as well as providing outsourced IT infrastructure, disaster recovery and connectivity.
“The implementation of LongView ASP has been successful and delivered within the agreed timeframes,” says Julian Cripps, COO at River and Mercantile. “The package of trade order management, compliance and electronic trading within an ASP environment is ideal for our business, and provides us with superior operational and cost efficiencies. The Linedata team supporting this solution has been technically strong, and I look forward to working with them in the future.”
Paul Roberts, Chief Operating Officer for Linedata Services, Europe, says the ASP service has proved popular in North America already. “I expect to see increasing interest in Europe as front office operations within the buy-side community become more familiar with the ASP model,” he says.