The Canadian financial software company NDEX Systems is entering the US market. 

Headquartered in Montreal, Canada, NDEX supplies a portfolio accounting and client relationship management (CRM) system known as eQuate.

The application has been available to Canadian asset managers and brokerage houses since 1999. Laurent Bensemana, founder and president of NDEX Systems, estimates the company has a 10% market share in Canada by assets under management, and 20-25% market share excluding the major banks. It currently has 185 clients and recently passed the 2.5 million account mark.

NDEX is now looking to capture a share of the US market, said Bensemana. “We have received a lot of introductions to US firms over the years from our Canadian clients. The aim now is to go direct to the US market. We are actively marketing and demonstrating the application to potential clients,” he said.

The eQuate application combines portfolio and order management capabilities with accounting, compliance and client relationship management functionality. It is available as a web-based application and is highly customisable.

NDEX's main strength is its patent-protected CRM system. “The CRM system reconciles and accumulates information on client behaviour. Underlying clients can access their portfolios through eQuate and there is an embedded quote and stock tracking tool for investors. The system monitors client interactions and learns from them. It allows the asset manager or broker to learn more about their clients and build closer relationships,” said Bensemana.

The company will go head to head with software giants Advent and Sungard in the US market. Bensemana said the CRM functionality of NDEX's application differentiated it from rival products.

NDEX has already interfaced with several US custodians and is ready to go live with US-based asset manager and brokers, said Bensemana.