Linedata Hosting Implemented at SunTrustGoes Live with Hybrid ASP Solution
November 19 2008 - 11:01AM
Business Wire
Linedata Services (Bloomberg: LIN.FP), announced today that a unit
and certain affiliates of SunTrust Banks Inc. (�SunTrust�) are live
on LongView Trading Order Management System (OMS) and Linedata
Compliance, using Linedata Services� new Linedata Hosting solution.
Linedata Hosting gives clients a hybrid of an enterprise-like
installation, where clients license the software and control it
themselves, and ASP delivery, where clients access the system via a
web-based deployment from a service provider�s facility. SunTrust
is live on an enhanced Linedata Hosting solution with Linedata
hosting the entire IT infrastructure for LongView OMS and Linedata
Compliance at its data center in Boston, and includes managing the
interfaces, custom development, and providing dedicated support and
IT staff for both products. �This go-live represents another
significant first for LongView OMS, continuing its long string of
innovations in the electronic trading marketplace. With Linedata
Hosting, the SunTrust unit and affiliates retain control over the
system, while deferring a large portion of the overhead and expense
of managing the platform,� said Annie Morris, Managing Director of
Linedata in North America. �This offers users the advantage of both
ownership and ASP delivery, giving them the best of both worlds.�
The deal spans multiple divisions and lines of business at
SunTrust, across offices throughout the Southeastern and
Mid-Atlantic regions of the United States. The deal puts the
LongView OMS and Linedata Compliance on the desktops of users in
GenSpring Family Offices, SunTrust Bank�s Personal Asset Management
group, and RidgeWorth Capital Management, Inc, which combined
services affluent, wealthy, high net worth and institutional
clients. This new deal builds on a relationship that Linedata
Services has had with SunTrust for more than four years. �Linedata
Hosting enhances the overall quality of these products, while
lowering our overhead,� said Sean Porrello, RidgeWorth�s Director
of Investment Technology. �With this arrangement, resources are
free to focus our efforts on superior client service and investment
performance. Linedata Services takes care of everything else.�
Notes to Editors About Linedata Services Linedata Services
(Bloomberg: LIN:FP) is the�global leader for investment software,
solutions, and support. Linedata combines technological innovation,
financial strength, and a deep understanding of�the Asset
Management, Leasing & Credit Finance, and Insurance &
Savings industries. Linedata Services� asset management division
provides comprehensive, scalable solutions to the buy-side,�to
manage the entire investment process from pre-trade to
post-settlement. Linedata is unique�in offering a full front- to
back-office solution via enterprise installation, or as an
Application Service Provider (�software as services� or �service
bureau� delivery), and has 20 years experience delivering ASP
solutions. Headquartered in France, Linedata Services achieved
revenues of EUR 164.8 million in 2007, has offices worldwide and
services more than 800 clients across 50 countries. For more
information visit Linedata Services corporate site at
www.linedata.com. About SunTrust Banks Inc. SunTrust Banks, Inc.,
with total assets of $177.4 billion on June 30, 2008, is one of the
nation�s largest and strongest financial holding companies. Through
its banking subsidiaries, the company provides deposit, credit,
trust, and investment services to a broad range of retail,
business, and institutional clients. Other subsidiaries provide
mortgage banking, brokerage, investment management, equipment
leasing, and capital market services. Atlanta-based SunTrust enjoys
leading market positions in some of the highest growth markets in
the United States and also serves clients in selected markets
nationally. About LongView Trading Order Management System (OMS)
LongView Trading is Linedata Services� powerful, electronic,
global, multi-asset class OMS developed to support the needs of
portfolio managers, traders, compliance officers and operations
personnel. The comprehensive system provides portfolio modelling,
electronic trading, pre-trade compliance and unparalleled access to
liquidity. Through numerous partnerships and seamless integration,
LongView offers customers access to the liquidity sources of their
choice. Unique technology and a commitment to broker neutrality has
won LongView ten of the top 25 global asset management firms, and
more than 150 clients worldwide. It has also won the loyalty of all
its clients, which named the platform Best Buy-Side OMS for 2008.
About Linedata Compliance Linedata Compliance is a global,
enterprise-wide compliance monitoring and breach management
solution that focuses on the complex business requirements and
workflows of compliance officers, asset managers and fund
administrators. The robust, real-time system offers advanced pre-
and post-trade compliance checking, comprehensive monitoring and
flexible reporting capabilities across all markets, regulatory
agencies and asset types. Linedata Compliance also provides
comprehensive monitoring of investment restrictions including
client, firm, prospectus, and regulatory mandates. Linedata
Compliance offers unrivalled speed, flexibility and scalability by
using an N-tier, multi-threaded architecture. Linedata compliance
is both a scalable, and an affordable solution or firms of all
sizes; the system may be operated as a stand-alone compliance
product or integrated with existing front and back office systems,
and is offered both as a hosted (ASP) and deployed solution.
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