September 18, 2005
Unique Data Warehousing solution for Hedge Funds unveiled by Bank of New York
With the world of hedge funds becoming bigger by the second and its complexities increasing, the need for a strong data warehousing software has never been greater. In response to this demand, Bank of New York has developed data warehouse exclusively for hedge funds. The software is housed within the Bank's technology platform for hedge funds known as Praeeo. It is claimed to be an automated and secure solution for meeting the real-time information needs of hedge fund managers. The data warehouse provides the fund managers of funds of hedge funds with the much needed complete range of reporting and transactions.
The system is now capable of providing services such as consolidated reporting and distribution, transparent trade work flow management and the works. The new enhanced system can now also act as a state-of-the-art storage resource for business records that can enable a client to store data about its fund structures, financial statements and dealing forms. The executive vice president at The Bank of New York, Brian Ruane mentioned that data warehouse is a proof of their strategic focus on providing innovative, end-to-end technology solutions to their hedge fund clients. Fineextra.com reports:
“The Bank of New York, a global leader in securities servicing, has created a unique data warehouse for funds of hedge funds that provides an automated and secure solution for meeting the real-time information needs of hedge fund managers.”
Read More: Bank of New York develops data warehouse for hedge funds
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