Rich May News: 2005
July 22, 2005
Rich May Client, Advanced Financial Applications, to Offer AES’s Algorithms Through IMPACT Pro
Rich May Client, Advanced Financial Applications (AFA), a leading provider of trading technologies to buy and sell side financial organizations, recently announced that it has entered into an agreement to with Credit Suisse First Boston’s (CSFB) Advanced Execution Services (AESÒ) to offer AES’s algorithms through its IMPACT Pro™ platform.
CSFB offers a comprehensive set of tools that assist buy-side and sell-side traders in an effort to improve their performance and consistency by helping them adapt to today’s rapidly changing market environment. Using IMPACT Pro, CSFB’s clients will have electronic access to the firm’s entire suite of Advanced Execution Services (AESÒ) algorithms, its Pathfinder DMA service, as well as its equity cash trading desk.
In deploying the AES suite of algorithms through IMPACT Pro, CSFB is able to offer clients a web-delivered, fully hosted application. The application provides CSFB clients with AFA’s fully automated Integrated Order Processing (IOP™) capability – from multi-broker trade execution to seamless trade allocations and connectivity to multiple prime brokers in a single platform. Among the firms already using the AFA platform through CSFB are Redwood Grove Capital Management and Crossfields Capital Management.
“We are pleased to work with AFA to offer enhanced services to our clients through the use of the IMPACT Pro™ platform. Our commitment to provide our clients with the most advanced trading tools available is reflected in our agreement with AFA,” said Manny Santayana, Managing Director in the AES group at CSFB.
AFA’s Chairman & CEO, Ameet Shah commented: “Our application will benefit CSFB in multiple ways. In addition to allowing CSFB’s clients to connect to various CSFB execution venues, IMPACT Pro enables CSFB to offer a solution that allows prospective hedge fund clients to manage their trades efficiently.”
Said Bradley Richmond, a trader at Redwood Grove Capital Management: “IMPACT Pro’s ability to connect to multiple executing brokers and then report trade files to multiple prime brokers at the end of the day through one easy to use platform has greatly increased my productivity and probably saves me 45 minutes a day in back office work. The amount of time and effort saved by using IMPACT Pro will certainly add to the fund’s performance.”
About Advanced Financial Applications, Inc.
Advanced Financial Applications, Inc. is a financial services technology company that provides a suite of Integrated Order Processing (IOP™) solutions to buy and sell-side institutions. AFA helps hedge funds, asset management firms, broker dealers and family offices grow their businesses by creating and delivering trading solutions to streamline the trade workflow, thus resulting in lower operating costs. For more information, visit AFA online at www.afapp.com.
About Credit Suisse First Boston (CSFB)
Credit Suisse First Boston (CSFB) is the trade name for the investment banking business of Credit Suisse and its subsidiaries and affiliates. CSFB is a leading global investment bank serving institutional, corporate, government and individual clients. Its businesses include securities underwriting, sales and trading, investment banking, private equity, financial advisory services, investment research, venture capital, correspondent brokerage services and asset management. CSFB operates in 69 locations in 33 countries across five continents. CSFB is a division of the Zurich-based Credit Suisse Group, a leading global financial services company.
About Rich May
Rich May’s diverse practice embraces the organization and operation of business ventures, venture capital, private placements, hedge funds, public offerings, technology licensing, mergers and acquisitions, contracts, joint ventures, internet and e-commerce law, employee relations, intellectual property, litigation and dispute resolution, energy, telecommunications, public utilities, wealth planning and real estate. Rich May provides superior legal and strategic counsel through its extraordinary commitment to clients’ success, outstanding professional competence and straightforward ability to communicate. Rich May embraces an entrepreneurial spirit and maintains a mission execution culture that distinguishes Rich May from other law firms.
Rich May combines the stability and experience of one of Boston’s oldest preeminent law firms with the innovative spirit and energy of a venture catalyst intensely focused on serving high-tech entrepreneurs, emerging companies and investors in New England and throughout the United States.
For more information, visit www.richmaylaw.com.
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