Custom House, a hedge fund administrator, has launched the Chariot Dealing Platform to complement its existing Chariot Reporting Platform.

The new platform is in the form of an online dealing portal for existing shareholders in Custom House administered funds.

It is designed to increase security and operational efficiency for the funds' existing investors and managers. It will be soft launched on 1 June.
 
The new platform has been developed in conjunction with Comada, a provider of web-based technology solutions to the hedge fund industry.  It issues investors with automatic electronic confirmation of trades into and out of hedge funds administered by Custom House.
 
“Being first to market with this solution is a competitive advantage for us and yet another illustration of our continued innovation and commitment to client service,” says Dermot Butler, chairman of Custom House
 
Comada’s co-founder Rupert Vaughan Williams adds: “We are delighted to be working with Custom House and this platform significantly raises the bar for hedge fund investors. Investors can now access robust infrastructure that electronically processes and reconciles their trades into or out of funds from a single reference point. It is specifically designed to minimise the operational risks of investing in hedge funds."