IQ-EQ expands middle office services to continental Europe and the UK

We’re excited to announce the expansion of our middle office service offering into Europe, leveraging our extensive U.S. experience. Our aim is to meet the growing demand from asset managers as they prepare for expected changes to settlement cycles and seek to reduce staff costs.

Our suite of middle office services includes bespoke outsourcing, co-sourcing and advisory services and covers all stages of fund management, from launch to wind-down, for both alternative and liquid hedge funds.

This European expansion builds upon nearly two decades of service success in the U.S. and follows the SEC’s recent transition to a single-day (T+1) trade settlement cycle. Currently, more than 175 managers worldwide rely on IQ-EQ’s middle office services for day-to-day operational support including management of the complete post-trade lifecycle such as trade recording, reconciliation, break resolution and maintenance of shadow books.

IQ-EQ’s outsourced solutions enable investment managers to implement an institutional trading architecture from day one, allowing them to focus on capital raising and investment decision-making. With a dedicated team of over 50 middle office operational experts, we work closely with clients to implement trading architectures tailored to specific strategies, trading frequencies, investor bases and AUM targets, helping managers meet their goals in a more cost-effective environment.

“We’re delighted to extend our industry-leading middle office services to the European market,” said Paul Mattessich, Head of Outsourced Middle Office Services, Americas at IQ-EQ. “By building on our proven track record in the U.S., we can offer our EU and UK clients innovative middle office services to drive operational efficiencies and strategic growth of their businesses. Our goal is to enable our clients to focus on their core competencies and achieve their business objectives in a seamless and agile way.”

He added: “With the successful rollout of the move to a T+1 settlement cycle in the U.S. in May 2024, it’s likely we’ll see the adoption of a similar single-day settlement cycle across continental Europe and in the UK within the next 18 months.”

Paul Griffith, our Chief Commercial Officer for Ireland, will oversee the implementation of this offering across Europe and the UK. He commented: “We’re seeing growing demand from managers for enhanced middle office services. Amidst current market volatility, fund managers are seeking to optimise their operational costs in the middle and back office. By extending our range of services to Europe and the UK, we’re positioned to offer more comprehensive support to our clients worldwide, ensuring they benefit from expertise and resources that are closely aligned with their evolving requirements.”

To learn more, download our service factsheet or get in touch today.