Asset Control International

Asset Control Technology Supports Rollout Of London Clearing House Pricing Data Service

    San Francisco (ots-PRNewswire) - Enterprise-Strength Data Management Platform Provides Top Global Clearing House With High-Quality Price Information.

    Asset Control International, a leader in providing streamlined data management systems to the international financial services community, announced today that its technology provides the foundation for the new London Clearing House (LCH) securities pricing service. After an initial implementation in support of risk management for LCH's RepoClear and SwapClear services, the pricing service is currently being extended into additional instruments and services.

    The announcement came at this year's Sibos exhibition sponsored by S.W.I.F.T. in San Francisco, where Asset Control is demonstrating its data management solutions at Booth # B-32.

    The Asset Control solution was selected last year as the technology foundation for LCH's Price Service System. Designed to provide quality valuation data for risk management of RepoClear and SwapClear, the system cleanses, consolidates and distributes up-to-date price information from a multitude of sources. LCH will be extending the data service to other business sectors.

    "Asset Control have delivered a solution capable of meeting both our short-term and potentially longer-term business goals and technical requirements," said a spokesperson for London Clearing House. "To date, the people at Asset Control have fulfilled their promises and met our demanding expectations."

    Since the initial implementation went live in April of this year, early indications are that the service is improving the quality of valuation data available to risk managers. As the platform is extended to more products, LCH expects to gain increased operational efficiency in the reduction of product-specific data management systems.

    "The decision by London Clearing House to extend Asset Control's technology is a telling indicator of its effectiveness, as well as its adaptability to support rapid deployment of new initiatives," said Asset Control president and CEO, Ger Rosenkamp. "We are very pleased with the results we were able to achieve for London Clearing House. The ultimate hallmark of our success is our customers' satisfaction."

    About London Clearing House

    LCH, established in 1888, is a centralized settlement utility, providing reduced counterparty risk, increased market liquidity and decreased settlement costs and risk for its members. LCH clears trades for its members on the London International Financial Futures and Options Exchange (LIFFE), the London Metal Exchange (LME), the International Petroleum Exchange (IPE) and the Tradepoint Stock Exchange, as well as trades in certain over-the-counter (OTC) products, specifically interbank interest rate swaps, repos and cash bonds, and, from early 2001, equities traded on the London Stock Exchange's SETS system. LCH is 75% owned by its members and 25% by LIFFE, LME and IPE. For more information please visit http://www.lch.co.uk.

    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.

    Media inquiries, contact Benjamin Alfonsi for Asset Control: Clearview PR Associates, +1 212-966-9397 or benjamin@clearviewpr.com.

ots Original Text Service: Asset Control International Internet: http://recherche.newsaktuell.de

Contact: Benjamin Alfonsi of Clearview PR Associates, tel.: +1 212-966-9397, benjamin@clearviewpr.com, for Asset Control Technology

Original-Content von: Asset Control International, übermittelt durch news aktuell

Weitere Meldungen: Asset Control International

Das könnte Sie auch interessieren: