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Strata Fund Services Enters Alliance with HedgeOp Compliance

Fund administrator to use ComplianceTrak software for alternative investment industry clients.

With the potential for hedge fund regulation looming, Strata Fund Services, LLC, a full-service fund administrator to the alternative investment industry, has entered into a strategic alliance with HedgeOp Compliance, LLC, to use the firm's ComplianceTrak software platform. Strata will use the software to service its clients and improve its compliance offerings, according to the release.

"We were looking for an efficient and cost effective way to enhance our compliance offerings to asset managers, and increase the number of clients we can service," commented Sam Seaman, executive director of Strata in the release. "ComplianceTrak, with its patented automated technology, will allow us to undertake, on a large scale, the reporting, monitoring and tracking functions that our clients need to demonstrate compliance," stated Seaman.

ComplianceTrak is a customizable Web-based system that guides end-users — either fund administration staff or asset managers themselves — as they capture information necessary for compliance. The tool's workflow technology (patented in December of 2008) directs users to provide the level of detail they require to improve transparency and meet demands from investors and regulators.

Strata entered the alliance with the compliance software specialist at a time when legislation requiring hedge fund registration is pending. "With registration imminent for many funds, and the possibility of increased disclosure requirements, we are seeing very strong demand, from both mangers and fund administrators, for automated tools to simplify and streamline the compliance process," commented Bill Mulligan, CEO HedgeOp Compliance in the release. Mulligan indicated that Strata would be using HedgeOp's software to increase the level of service they are offering to their alternative asset management clients. Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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