Advise Technologies Selects AbacusFLEX to Deploy its Consensus RMS Cloud-Based Solution

by Abacus Group, on Nov 19, 2012

New York, NY, November 19, 2012 — Advise Technologies, LLC, a software solutions provider for global regulatory compliance, and Abacus Group LLC, a leading provider of hosted IT solutions for hedge funds and private equity funds, today announced that Advise Technologies’ Consensus RMS suite of regulatory reporting tools is available on the AbacusFLEX private cloud. Consensus RMS customers are able to host or locally deploy the software, providing them with the flexibility to choose which best suits their needs and structure.

“New regulatory reporting requirements are weighing heavily on today’s fund advisers, and hosting our software suite on the cloud eliminates the added burden of managing the required technology
infrastructure,” said Sean Sullivan, President of Advise. “Abacus’ deeply rooted understanding of hedge fund infrastructure and applications enables them to seamlessly integrate our products with the rest of our clients’ systems. Advise is committed to providing our clients with the most robust solution set available and providing a hosted or in-house offering is a crucial part of that.”
Firms use Consensus RMS to automate the process of filing emerging regulatory forms that call for data at a level of granularity never before required from private funds. New reporting requirements arising out of the Dodd-Frank Act include Form PF, obligatory for SEC-registered investment advisers, and Forms CPO-PQR and CTA-PR, similar CFTC mandates for commodity pool operators and commodity trading advisers, respectively. To file these and similar reports emerging globally, funds are able to gather data from disparate sources, normalize the data into the format required to file, and, where possible, file electronically using the software.

AbacusFLEX offers the scalability needed to easily store and back up terabytes of data that may be
required to meet new regulatory mandates, and eliminates hardware expenditures.
“The sophistication of private funds’ technology infrastructures differs across the industry, making a
hosted solution the logical choice for those considering the most effective way to implement new
technologies,” said Chris Grandi, CEO of Abacus. “By hosting Consensus RMS on the AbacusFLEX privatecloud, firms can now deploy the software simply and securely while eliminating the need to procure the proprietary on-site hardware or IT staff some firms may not have available.”

AbacusFLEX offers the flexibility to host any application, the scalability to add resources as needed, and the assurance that data is always available, secure and protected. In addition to Consensus RMS, Abacus also offers full integration of front-office trading applications, back-office reporting systems, accounting systems, and managing email and files. Abacus’ cost-effective, fully redundant infrastructure is supported 24x7x365, and empowers hedge funds to focus on their core business without sacrificing performance, security, and the resiliency of their technology and operations.

FOR IMMEDIATE RELEASE
Media Contact:
Jennifer Harlan at Articulate Communications Inc. jharlan@articulatecomms.com 212.255.0080 ext. 13

About Abacus Group LLC
Abacus Group LLC is an IT solutions firm focused on helping hedge funds and private equity funds deploy and manage hosted IT solutions. Our objective is to provide investment managers and technology executives with solutions to improve their IT service experience. Abacus has developed a scalable, redundant and highly available IT platform to allow investment managers to run all of their technology as a service. The days of purchasing new hardware every few years are over. Abacus manages mirrored data centers throughout the US and provides cost effective and efficient solutions. Firms connect to their IT applications and data through high speed circuits with minimal onsite equipment.


For more information, please visit http://abacusgroupllc.com/.
About Advise Technologies, LLC
Advise Technologies, LLC provides proven software solutions that facilitate global regulatory compliance for the investment management community. Through its Consensus RMS suite of desktop and enterprise-grade solutions, Advise supports a full range of global regulations including Forms PF, CPOPQR and CTA-PR in the United States and the AIFM Directive in the European Union. The firm also provides a complete document management system through Vault which helps locate, track and automate key documents and regulatory exams. Built by financial industry veterans, Advise empowers clients to automate traditionally resource-intensive and error-prone processes to ensure intuitive, fast, and cost effective electronic regulatory reporting. The firm is headquartered in New York. For more information, please visit www.AdviseTechnologies.com.

Topics:Managed Service ProvidersNewsPress ReleasePrivate Cloud
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