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According to the company, Linedata Hosting gives clients a hybrid of an enterprise-like installation, where clients license the software and control it themselves, and application service provider (ASP) delivery, where clients access the system via a web-based deployment from a service provider's facility. SunTrust is live on an enhanced Linedata Hosting solution with Linedata hosting the IT infrastructure for LongView OMS and Linedata Compliance at its data center in Boston, and includes managing the interfaces, custom development, and providing dedicated support and IT staff for both products.
The company has said that the deal spans multiple divisions and lines of business at SunTrust, across offices throughout the Southeastern and Mid-Atlantic regions of the US. The deal puts the LongView Order Management System (OMS) and Linedata Compliance on the desktops of users in GenSpring Family Offices, SunTrust Bank's Personal Asset Management group, and RidgeWorth Capital Management, which combined services affluent, wealthy, high net worth and institutional clients.
Annie Morris, managing director for North America of Linedata, said: "This go-live represents another significant first for LongView OMS, continuing its long string of innovations in the electronic trading marketplace. With Linedata Hosting, the SunTrust unit and affiliates retain control over the system, while deferring a large portion of the overhead and expense of managing the platform. This offers users the advantage of both ownership and ASP delivery, giving them the best of both worlds."
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