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

Olayan Group to Implement TAPMaster as Core Data Platform

Subscribe to our newsletter

The Olayan Group, a Saudi multinational, has decided to implement TAP Solution’s TAPMaster platform as its core reference data management system for its asset management operation. The deal is the first for TAP for some time, following its big win at Morgan Stanley (Reference Data Review, January 2005).

At Olayan, TAPMaster will become the company’s corporate data hub. As such, it will provide the platform for deploying and managing a full range of reference data, including securities, issuers, counterparties, transaction and holdings. Olayan plans to use the new implementation, which is part of a major systems upgrade, to support new applications for portfolio accounting, order management and general ledger.

According to Ali Al-Ashqar, Olayan’s CTO, partly due to limitations on its IT resources, the company was seeking an off-the-shelf system to form the foundation of its new enterprisewide system architecture. Al-Ashqar says key requirements were ease of implementation of new business applications and the flexibility to integrate new asset classes, compliance requirements and data sources in the future.

Having made its decision to install TAPMaster, Olayan plans to begin implementation next month, with full integration with the new applications expected to be completed before the end of the year. TAP Solutions will work on the implementation with Olayan’s staff in New York, London and Athens. As part of the project, TAP Solutions will convert historical information held on a number of legacy systems over to the new platform.

Olayan operates a variety of businesses in a range of industries, including distribution, manufacturing and services. As a corporate, it is a major investor in both listed and private equities and fixed-income securities.

TAP Solutions came to prominence after winning the contract to provide Morgan Stanley’s retail brokerage – the former Dean Witter Reynolds – with a new enterprisewide securities master service. The Securities Master Service (SMS) was Morgan Stanley’s initiative to implement a centralized database to feed normalized data from multiple sources to a wide range of applications. These applications previously drew upon discrete security master files that had been designed to satisfy the specific requirements of the respective applications. This legacy situation made comprehensive and consistent updating of fields difficult. As a result, Morgan Stanley turned to TAP Solutions to provide its TAPMaster platform as a base data model for the SMS facility.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Navigating a Complex World: Best Data Practices in Sanctions Screening

As rising geopolitical uncertainty prompts an intensification in the complexity and volume of global economic and financial sanctions, banks and financial institutions are faced with a daunting set of new compliance challenges. The risk of inadvertently engaging with sanctioned securities has never been higher and the penalties for doing so are harsh. Traditional sanctions screening...

BLOG

Data as a Product: From Collection to Control in Modern Markets

For much of the past decade, data strategy in capital markets focused on accumulation. Firms invested heavily in market data feeds, alternative datasets, data lakes, and analytics platforms. Yet despite this abundance, many organisations have still struggled to answer basic operational questions with confidence, particularly during periods of market stress. The problem is no longer...

EVENT

Buy AND Build: The Future of Capital Markets Technology

Buy AND Build: The Future of Capital Markets Technology London examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

AI in Capital Markets Handbook 2026

AI adoption in capital markets has moved into a more disciplined phase. The priority is now controlled deployment: where AI can be used safely, where it can deliver measurable value, and how outputs can be governed, monitored and evidenced. The 2026 edition of the AI in Capital Markets Handbook examines how AI is being applied...