Baader Bank, Germany’s leading specialist in securities trading, has consolidated its data needs via the Cadis EDM platform. Cadis, the global EDM specialist, has connected all of Baader Bank’s data providers into a central security master, increasing transparency and traceability. The decision to partner with Cadis on this and future data management plans comes after the runaway success of a two week PoC.
“Baader Bank uses the Cadis platform to push its data into a central security master to feed various local and international downstream systems as well as replace various internal databases,” said Franck Willaime, managing director Continental Europe at Cadis. “The Bank has experienced tremendous growth, expanding its operations through an ambitious acquisitions programme. This, coupled with its high derivatives activity, had left it with a number of data management challenges. The security master is the first phase of a comprehensive overhaul designed to bolster its data management capabilities.”
The selection of Cadis as its EDM partner followed a beauty parade of EDM specialists and a two week PoC.
“We were amazed with what Cadis achieved in the two week PoC and its subsequent delivery has borne out its implementation capabilities,” said Peter Blenninger, head of software development and quality management at Baader Bank. “We are better able to manage existing contract commitments much more efficiently and have unparalleled data cross-referencing capabilities. This looks set to be the start of a wonderful partnership.”
Baader Bank is Cadis’ second German client following on from its deal with HSBC Trinkaus.