Denver (PRWEB) May 8, 2008
Cachematrix Holdings, LLC (http://www.cachematrix.com), the leading provider of institutional money market fund trading software and back-office solutions for banks and financial institutions, announced today that more than $1 trillion in institutional money market fund trades have been processed through its software.
"Crossing such a significant milestone in less than five years in business is a testament to the power that our portal trading systems have in transforming the institutional money fund marketplace for our financial services clients," said Cachematrix Founder and CEO George Hagerman.
Launched in 2003, Cachematrix currently powers the software behind many of the world's largest financial institution's money market portals. Cachematrix clients include four of the top 10 global banks in the world, and six of the top 100 U.S. banks, as well as three of the world's top 10 investment banks.
Hagerman said that with a volatile stock market and the virtual evaporation of the auction rate preferred market, corporate treasurers are finding a safe haven in money funds. "The market is driving unprecedented growth in money market funds, and our systems are handling record trading volume," said Hagerman.
In addition to its trillion dollar trade volume, Cachematrix has more than doubled its client base in the past twelve months. The firm has also integrated its portals and customized trading systems into many leading treasury workstations, bank core custody systems as well as leading transfer agents further assisting the front-end clients as well as back-office settlement efficiencies (STP).
About Cachematrix Holdings, LLC
Cachematrix (http://www.cachematrix.com) 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.