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ABN AMRO Extends Asset Control Securities Data Platform From Risk Operations to the Global Enterprise
NEW YORK (ots-PRNewswire) - Integration of Market Data, Static Reference Data and Corporate Actions Provides Consistent, Quality Data to Users and Applications
Asset Control International today announced that ABN AMRO, the fifth largest bank in Europe, will be rolling out an extended version of its advanced Market & Static Data Service (M&SDS) to users and applications throughout its global operation. M&SDS, a centralized data management system for all types of securities related information, has been extended beyond its initial risk-control utilization as a result of user and management satisfaction at ABN AMRO. The system was built on the Asset Control data management platform running on Sun Microsystems servers.
"We are delighted with the foresight of the development team that selected Asset Control and Sun for this initiative," said David Forster, ABN AMRO senior vice president. "When the M&SDS project was first envisioned in 1996, the bank was seeking a centralized, networked data architecture that would address the immediate needs of the risk control division, yet offer the scalability and extensibility to improve the quality and consistency of securities data throughout the bank. This project has met our expectations for the initial phases, and we are currently extending the value of M&SDS to a growing number of users, applications and business initiatives."
The Asset Control data management platform gathers, cleanses and validates market data, static reference data, corporate action data from third-party vendors and internal systems, integrating all of them into a single consolidated framework of times-series and relational database storage. The ABN AMRO project currently tracks more than 4 million instruments, making M&SDS one of the largest repositories ever assembled by an investment bank.
The M&SDS initiative also makes use of Asset Control's Formula Engine and workflow capabilities to create user- or application-specific information and react to programmed triggers or limits. Here are several examples. M&SDS provides pre-processed volatilities and other risk parameters to speed and improve the efficiency of the bank's risk management processes. Suspect data entering the system is identified and forwarded to information specialists for evaluation. Pricing analysts have access to a multi-year analysis of stock splits and other corporate actions, in the context of pricing changes.
The system is now being employed by hundreds of users and applications for customer clearing, global consolidation, revaluation and e-commerce. As M&SDS is extended globally as well as across various lines of business, the bank estimates that more than 10,000 individuals and 1,000 applications will be using the data over the next year or two.
"ABN AMRO is the first of our customers to take a line-of-business implementation out to the entire enterprise, but they will not be the last," said Ger Rosenkamp, president and CEO of Asset Control. "As our friends and partners at ABN AMRO have so aptly noted, the concept of 'mark to market' is going to becoming increasingly important in today's highly-competitive environment. We are proud to be, in our own way, 'marked to market' by the success of this landmark project.
"We are grateful to ABN AMRO for having the vision and commitment to prove that Asset Control would scale up to the full requirements of a world-class investment bank and extend to their growing business needs. Our appreciation also extends to Sun Microsystems for providing the hardware platform that could support the advanced time-series features built into Asset Control."
About Asset Control
Asset Control develops and implements a streamlined, enterprise-strength data management platform for securities data of all types. Its clients include the London Clearing House as well as a number of major investment banks, including: Abbey National, ABN AMRO, Bankgesellschaft Berlin, Barclays Capital, Commerzbank, HypoVereinsbank, ING Barings and Robeco. Established in 1990 by a team of experienced investment industry and information technology professionals, Asset Control is a privately held firm with operations in London, New York and the Netherlands. For more information, please visit http://www.asset-control.com.
ots Original Text Service: Asset Control International Internet: http://recherche.newsaktuell.de
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CONTACT: Benjamin Alfonsi of Clearview PR Associates, 212-966-9397, email@example.com, for Asset Control International
Web site: http://www.asset-control.comOriginal-Content von: Asset Control International, übermittelt durch news aktuell