Denver, CO (PRWEB) March 18, 2008
Denver, March 18, 2008 -- Cachematrix Holdings, LLC, the leading provider of institutional money market fund trading software and back office solutions for banks and financial institutions, announced today that more than $620 billion in institutional money market fund assets were traded through portals and customized trading systems powered by its software through 2007.
The exponential jump in trade volumes in 2007, which increased 375 percent in terms of assets, set a new volume record for Cachematrix. The increase reflected the addition of new bank and financial services customers who have incorporated Cachematrix's institutional money market trading software into their product offering.
"2007 was a breakthrough year for Cachematrix, as leading financial institutions fully embraced our technology solutions," said Cachematrix Founder and CEO George Hagerman. "In total, four of the top 10 global banks, and domestically, six of the top 100 U.S. banks, use Cachematrix technology. Three of the world's top 10 investment banks also have incorporated our trading technology as well."
"With corporate cash investments in money funds reaching record levels, and Sarbanes Oxley regulations driving greater automation, money market trading software for banks and financial institutions are a must-have service that is being demanded by corporate and institutional clients," added Cachematrix Chief Technology Officer Kevin Sun.
"Our world-class development approach and Software as a Service (SaaS) model provide for complete customization of web-based front-end trading software systems, as well as a host of back office solutions for global banks and financial institutions."
In addition to its record trade volume, Cachematrix in 2007 more than doubled its client base. The firm also integrated its portals and customized trading systems into many leading treasury workstations, further assisting the trading and reporting for many underlying Bank corporate clients. Cachematrix also achieved SAS 70 Type II Certification.
Software enhancements in 2007 include:
- Compliance trading module
- Dual authorized trade module
- Customized Email "Notification" system
- Future dated 24/7 trading module
- Multi-currency functionality
- Advanced "Customizable reporting module".
About Cachematrix Holdings, LLC:
Cachematrix is the leading financial software provider (SaaS) of on-line institutional trading systems for banks and financial institutions worldwide, providing turnkey solutions for money market portal technology, as well as fixed income and variable NAV trading systems.
Cachematrix enables banks and other financial services firms to offer its corporate clients on-line access to a choice of institutional funds and a convenient, single source platform for managing them, including access to comprehensive analysis, online trading, and account management. For more information, visit http://www.cachematrix.com.