Praxient Goes Live with i-Recs

London-based Praxient has been registered as an operating firm with the FSA since 2007.

Hedge fund uses software for daily reconciliations.

London-based hedge fund Praxient Capital has implemented i-Recs from Watson Wheatley Financial Systems, the vendor has announced.

i-Recs will help Praxient with its daily reconciliation processes for cash and trades, as well as monthly net asset value (NAV) reconciliation across multiple asset classes. Functionality also exists for incorporating a range of data vendors.

"The implementation of i-Recs has made a meaningful contribution to our control environment, improving the productivity of reconciliations between internal systems, administrator and counterparties in a cost effective manner," says Chris Finke, COO at Praxient.

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