A new credit hedge fund start-up This client had ambitions to introduce a new diversified credit product making use of their own intellectual property in credit risk reduction and control. It planned to provide diversified credit notes with above libor returns at very low risk. We provided CTO services from start-up to launch. We assisted with the required FSA applications and then designed and managed the implementation of a suitably resilient technical infrastructure, including DR and real-time backup. We assisted in contract negotiation with third-party system suppliers and defined the changes and add-ons needed for the chosen third-party transaction systems. We specified the outside interfaces required with all the third parties, from data suppliers through to settlement instructions, and we agreed the workflow and access controls. And, most importantly, we designed the portfolio selection tool utilising the proprietary expected loss selection techniques. The client is now a successful and expanding fund with over USD500m under management.