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Asset Control Partners with ECOFIN: Leaders in Successful Bank Implementations Join Forces
NEW YORK (ots-PRNewswire) - Investment Banks Now Offered Total Architecture and Data Model Solution To Consolidate Management of Securities Pricing and Reference Data
Asset Control International and the ECOFIN Group today announced their partnership, which will offer a major advance in implementations of centralized systems for securities pricing, reference and corporate action data. The two firms will cooperate on marketing, consulting, implementation and ongoing development of Asset Control's data management platform and ECOFIN's Financial Instruments Data Model (FIDM(TM)). Both solutions have extensive track records of successful implementations in international investment banks and exchanges, and both firms are notable for their strong relationships with satisfied customers.
"The partnership of Asset Control and ECOFIN is a match made in the marketplace," said Ger Rosenkamp, president and CEO of Asset Control. "Encouraged by both current and prospective customers to join forces, we examined each other's solutions and saw the benefits to our customers. ECOFIN has a rational, forward-looking approach to organizing securities data to support business operations. When combined with our streamlined approach to gathering and cleansing market data, consolidating it with static data, and distributing it institution-wide, the result enables investment banks to modernize their securities information infrastructure more rapidly than ever before."
The announcement was made at the SIA Technology Management Conference & Exhibit held this week in New York City, where executives from Asset Control and ECOFIN will be available at booth #4006.
"The timing of this announcement is ideal," said Dr. Martin Janssen, president and CEO of the ECOFIN Group. "Both Asset Control and ECOFIN have strong histories of success in Europe. Now we are also attracting interest from major American institutions. As they move to straight-through processing and global e-commerce, financial institutions are becoming very clear about the costs of uncoordinated data management, and the obvious paybacks of data consolidation. We are pleased to offer a modern, flexible and sensible solution that answers these concerns with immediate results and long-term advantages."
About the Solutions
Asset Control is a technology innovator in enhancing quality and consistency of financial markets time-series data, static reference data and corporate actions. The Asset Control solution is a modular, networked data management platform that cleanses, pre-processes and stores data from vendors and internal sources in a fully integrated framework, then delivers consistent data and derived information across the enterprise and around the world. Typically introduced in risk and portfolio management lines of business, Asset Control is now being extended firm-wide by its users to support initiatives such as e-commerce, trading and global straight-through processing.
ECOFIN's FIDM is a proven data concept for structuring and representing detailed information on financial instruments, used today by banks, stock exchanges, data vendors and other financial intermediaries. Based on a logical analysis of financial instrument elements and characteristics, it supports both front and back office activities, and easily extends to newly emerging instruments and market conditions. Developed for international use, the model supports multiple currencies, languages, time zones, and practices. FIDM is jointly owned by ECOFIN Data Model AG, a subsidiary of the ECOFIN Group, and Telekurs Finanzinformationen AG.
About the ECOFIN Group
ECOFIN is an independent group of companies: ECOFIN Research and Consulting AG, ECOFIN Investment Consulting AG and ECOFIN Data Model AG. Founded in 1986, the organization began as a developer of data models for securities databases and high-quality financial information such as stock exchange indices. Today, the activities of the Group also include risk and portfolio management and the management of credit risks. Based in Zurich, the ECOFIN Group employs about 35 economists, software engineers, mathematicians, physicists and lawyers. For more information, please visit http://www.ecofin.com.
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.
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Contact: Benjamin Alfonsi of Clearview PR Associates, 212-966-9397, firstname.lastname@example.org, for Asset Control