PrimeOne Introduces SwapCloud Platform for Buy Side

SwapCloud, geared primarily at hedge funds but also other buy-trading desks, will consolidate those products across multiple prime brokers and provide infrastructure for regulatory reporting requirements including Dodd–Frank, Fatca, and the Hiring Incentives to Restore Employment Act, which requires firm to closely monitor payments to foreign financial institutions.

"We are excited to be the first provider to deliver a swap application to the buy side. The uniqueness of these products, coupled with the cloud-based deployment model, fits well in an environment where firms are looking for a safe and speedy response to global regulatory demands, while seeking the lowest cost of technology ownership," says EJ Liotta, global head of PrimeOne Solutions.