Asset Control has extended data provision for risk management with the integration of direct access to DTCC Solutions’ Global Corporate Actions Validation Service (GCA VS) in its AC Plus data management platform.
The service went live late in 2011, adding to other corporate actions data options available on the AC Plus platform, but offering a managed service of scrubbed corporate action announcement information and updates, rather than raw data that companies must manage.
Asset Control says direct connectivity to DTCC Solutions’ pre-cleansed corporate actions data reduces the costs associated with sourcing high quality corporate actions information. The service allows users to populate in-house data repositories with DTCC Solutions’ data and link it to other data types. A white paper published jointly with A-Team Group this week highlights the need for cleansed and properly validated corporate actions, particularly for new markets that suffer from inconsistency of sourcing (download the free paper here).
Noting corporate actions data as one of the last areas in data management to be automated, Phil Lynch, CEO of Asset Control, says: “Investors and regulators no longer have the palette for manual processes, especially when there is such tight scrutiny of cost and operational risk. Inefficiently managing corporate actions data is no longer an option as it has an increasing number of touch points in the trading lifecycle. Our partnership with DTCC Solutions will help clients achieve a consolidated view of corporate actions data alongside other types such as pricing or reference data.”
Asset Control lists over 50 content sets that it integrates and delivers as managed data solutions to clients including custodians, banks, asset managers, hedge funds and insurance firms. The aim is to feed a single version of accurate, accessible and actionable data to customers’ downstream applications – including risk management, compliance and trading – to provide a real time view of activity across the enterprise.
Lynch names GoldenSource as a competitor in the data management platform space, but also sees many organisations building data management infrastructure in house. Looking forward over the coming year, he suggests Asset Control will focus on new content for customers; making data solutions easier for business people to interact with through further development of dashboards, graphical user interfaces and interfaces to other systems; and support to help customers manage increasing volumes of data.
“Customers are asking for more information on derivatives, more transparency around the pricing of fixed income securities, extra index data and data from new markets such as Eastern Europe and South America. Our goal is to source information customers want and provide options for that data,” he says.