By Susan L. Barreto, Senior Financial Correspondent

LONDON (HedgeWorld.com)-Iris Financial is formally launching its Iris Trade Manager software for traditional asset managers, but it also is fashioning a pared-down version of the platform for hedge fund managers.
The new software is a multi-asset, middle-office trade management and processing tool that clients can use for all types of trades, including automated transactions, direct market access trades and basket-trade capture and processing.
"Iris Trade Manager takes middle-office trade processing to a far more sophisticated level than previously available," said Michele McGovern, chief executive at Iris, in a statement. "We give customers everything they'd expect in an off-the-shelf application and combine it with the power to customize the application so that it is unique to each customer institution."
For hedge funds, a separate version of Trade Manager will be rolled out. Its capabilitites are limited to those activities of interest to alternative investment managers, such as trade capture, allocation management and audit-trail generation, a spokesman said.

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