About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

MacKay Shields Implements Markit EDM to Support Data Management

Subscribe to our newsletter

MacKay Shields, a US-based investment firm owned by New York Life Investment Management and with over $70 billion in assets under management, has selected Markit EDM’s data management solution to manage the collection and distribution of data across its investment management systems. Markit won the deal in a competitive selection process and is working with both MacKay Shields and investment management consultancy Citisoft on the implementation of the EDM solution.

MacKay Shields uses Charles River software for front-office functions and Portia software for back-office accounting, and was using point-to-point solutions to join the systems together. It decided to slot in a vendor EDM solution as its set-up with point-to-point solutions was difficult to scale.

The investment firm will initially use the Markit EDM system as the basis of a pre-trade security master compliance engine that will replace a mainly manual compliance process. This is expected to be complete in the next few weeks and will be followed by a second phase of activity that will ultimately see the system managing all the firm’s data.

According to David Bates, principal at Citisoft, “Markit EDM provides a central hub for the management of complex data sets in an efficient and controlled manner in support of MacKay Shields’ world class investment capabilities.”

MacKay Shields adds to a roster of about 40 Markit EDM users in the US and a worldwide total of about 90 users, one of the latest being Markit’s first EDM customer in China. Daniel Simpson, managing director of Markit EDM, says: “We are seeing demand for data management on all fronts and we’ve seen data management initiatives become more prevalent in the front office in recent years, especially within buy-side firms. These organisations are focusing their efforts on front office data demands for actionable, reliable and up-to-date information to support pre-trade compliance and trading decisions.”

To support ever increasing data volumes and ensure Markit’s EDM system can scale to meet the needs of the largest tier one financial institutions, the company is working with Microsoft – the Markit EDM software sits in the Microsoft stack – to backtest 800 million records a day. Simpson says the company is also enhancing delivery of mobile data, designing web-based user interfaces, building business intelligence into the front-end of the system and investing in its software-as-a-service and cloud versions of the EDM solution.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Unlocking value: Harnessing modern data platforms for data integration, advanced investment analytics, visualisation and reporting

Modern data platforms are bringing efficiencies, scalability and powerful new capabilities to institutions and their data pipelines. They are enabling the use of new automation and analytical technologies that are also helping firms to derive more value from their data and reduce costs. Use cases of specific importance to the finance sector, such as data...

BLOG

A-Team Group Announces Winners of its Prestigious Innovation Awards 2025

The most innovative data and technology solutions for capital markets were recognised today as A-Team Group announced the winners of this year’s A-Team Group Innovation Awards 2025. Now in its fifth year, the prestigious awards recognise the innovative projects created across the vendor and practitioner communities that provide high-value solutions to organisations within capital markets...

EVENT

AI in Capital Markets Summit New York

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...