The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Asset Control Bags E*Trade, Calyon, Sets Sights on Asia-Pacific

Share article

As its deal with E*Trade increases its tally of U.S. customers, Netherlands-based data management platform vendor Asset Control is setting its sights on the Asia-Pacific region, as well as planning to leverage its data management platform to create vertical solutions.

Asset Control has announced two sales this month. The E*Trade Securities subsidiary of E*Trade Financial Corporation is deploying AC Plus for the management of securities reference data. Meanwhile, in a more far-reaching deal, Paris-based Calyon Corporate and Investment Bank, part of the Credit Agricole Group, has chosen the solution as its centralized data management platform for reference data, corporate actions and pricing data across its financial and commodities businesses globally. A phased implementation, being carried out by Asset Control partner Accenture, is under way.

Asset Control CEO Ger Rosenkamp counts the Calyon win as a “big achievement” because it is “all-encompassing”. “Calyon has 13,000 employees, most of whom will be exposed to data coming out of AC Plus,” he says. “The types of data covered include price – end-of-day and snapshots, and potentially also real-time, instrument reference data and corporate actions data, for the firm’s equity department – front, middle and back office – and also its energy activities.”

E*Trade is taking the standard delivery of Asset Control’s centralized reference data management solution. While not an enterprise-wide deal, the E*Trade win is important, Rosenkamp says, because E*Trade is a major U.S. player. “Initially, we were a typical European company. We started our activities in the U.S. in 1999, and now the number of customers we have in the U.S. is growing significantly towards the same number we have in Europe.”

Geographically, the next frontier for Asset Control is Asia-Pacific. The vendor already has one customer in Singapore, and it attended Sibos in Sydney earlier this month with the aim of leveraging that position. “AC Plus is also ready to enter the vertical markets,” Rosenkamp says. “A solution typically has several layers – a data management layer, business rules to process the data and a GUI to present the outcomes. Applications all have the data management layer in common. There is every reason to deploy a centralized data management platform and leverage it in all sorts of applications.” The shelf-life of applications in the fast-changing financial markets is getting shorter, he argues, and this is easier and cheaper to deal with if all applications connect to a common data layer – effectively a service oriented architecture (SOA) for data. The extension of its partner programme AC Alliance is central to Asset Control’s realisation of this vision. Existing partners include German company BNext, with which Asset Control is working to provide a solution for MiFID, and corporate actions system vendor Xcitek. Says Rosenkamp: “We will also be creating verticals with other third parties, and potentially we could develop applications ourselves.”

Related content

WEBINAR

Recorded Webinar: How to leverage the LIBOR transition to improve your data management game

The transition away from LIBOR (London Interbank Offered Rate) is well underway, but there remains considerable ambiguity around how the final stages will be executed – especially with regards to benchmark replacements in markets outside the UK. What are the options, where are the uncertainties and what stage have firms reached in their preparations? The...

BLOG

ISO Standardises Process of Embedding LEIs in Digital Certificates

ISO has defined a standard approach for Certification Authorities to embed Legal Entity Identifiers (LEIs) within digital certificates. The move to simplify LEI integration paves the way for all digital certificates to be linked by a universal identifier to verified and regularly updated entity reference data, in a freely accessible repository, and also can contain the...

EVENT

Data Management Summit USA Virtual

Data Management Summit USA Virtual will explore how sell side and buy side financial institutions are navigating the global crisis and adapting their data strategies to manage in today’s new normal environment.

GUIDE

The Data Management Challenges of Client Onboarding and KYC

This special report accompanies a webinar we held on the popular topic of The Data Management Challenges of Client Onboarding and KYC, discussing the data management challenges of client onboarding and KYC, and detailing new technology solutions that have the potential to automate and streamline onboarding and KYC processes. You can register here to get immediate...