London, 25th February 2010: Linedata Services (LIN:FP), the global leader for investment management and credit technology, today announced that Calamatta Cuschieri Fund Services Ltd, a Malta-based fund administration company, has gone live with a combination of MShare transfer agency and MFact fund accounting platforms for its newly established fund servicing business. The project went from planning to live implementation in 10 days.
Changing market conditions in Malta and requests from existing clients prompted Calamatta Cuschieri & Co Ltd, one of the island’s most respected investment advisory and stockbroking firms, to branch out into fund servicing through its fully owned subsidiary Calamatta Cuschieri Fund Services Ltd.
With a key strategy of investing in software and technology to support growth, Calamatta Cuschieri looked for a recognised software vendor who could partner with them in the rapid establishment and anticipated expansion of their new business, helping to attract new clients and create differentiation. They required a robust and comprehensive platform with a clear technology investment record, as well as training and support from people with proven expertise in the fund servicing area.
When selecting the software, rapid implementation was a deciding factor for Calamatta Cuschieri. Linedata Services went from project planning stage to full live implementation in just 10 days for a fully integrated, combined MFact and MShare solution. This meant minimal disruption to the Calamatta Cuschieri day-to-day business and furthermore enabled them to bring on board four new clients within just a few weeks. Alan Cuschieri, Director of Business Development at Calamatta Cuschieri explained: “Malta is expanding as a centre of excellence for Fund Administration, and we wanted to establish ourselves rapidly in this marketplace which is complementary to our existing business. We have aggressive growth plans and chose Linedata Services’ MFact and MShare solutions to power our fund servicing business because of their proven expertise in this area. Linedata Services is an excellent fit for our strategy now and into the future, as we expand.”
Barry McConville, Linedata Services’ Director for Ireland and Luxembourg, commented: “We are delighted to be working with Calamatta Cuschieri in Malta. This is the type of deal that illustrates our ability to support our clients’ growth, delivering what the client requires in the stipulated timeframe, thanks to our robust, scalable software and the expertise of our staff – not only in implementation but also in training and support.”