New York - Abacus Group, the provider of hosted IT solutions for hedge funds and private equity funds, has announced a partnership with Global Relay to provide a message archiving solution as part of the AbacusFLEX private cloud platform. The partnership offers AbacusFLEX clients integration with Global Relay's compliance archiving and monitoring solution.
The Dodd-Frank Act requires that hedge funds, private equity funds and investment advisors retain and monitor electronic messages. Now, in partnership with Global Relay, AbacusFLEX clients' email, Bloomberg, Instant Messenger (IM), mobile text messaging and call logs, and social media communications including LinkedIn, Twitter and Facebook are automatically archived in the cloud. Global Relay services satisfy SEC compliance requirements for message recordkeeping and supervision such as SEC Rule 17a-4.
"In today's challenging regulatory landscape, financial services firms must be able to store and access electronic business communications to remain compliant," said Shannon Rogers, Global Relay President & General Counsel. "Global Relay is pleased to be able to provide those necessary tools to Abacus' expanding customer base and enable a growing community of hedge funds to comply with ease."
"Partnering with Global Relay allows us to simplify yet another business process for our clients and improve their overall IT service experience," said Mark Kenney, director of operations at Abacus. "We can now provide a more comprehensive offering that enables our clients to meet an essential component of their compliance requirements. The agreement also helps us streamline the launch process for new hedge funds, getting them up and running quickly with a complete IT infrastructure - including archiving for compliance - through Abacus' private cloud."