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

Wachovia Expands Use of AC Plus To Boost Risk Data Quality

Subscribe to our newsletter

Wachovia Corp. has once again expanded its use of Asset Control’s AC Plus data management platform to boost the capabilities of its internal risk management function. Wachovia originally implemented AC Plus in its risk management operation in 2004 (Reference Data Review, January 2005) and subsequently extended its use to other areas of the enterprise as part of a three-year project (Reference Data Review, September 2005).

The latest expansion involves the addition of sources of market data used to support Wachovia’s risk management systems. The bank has added several undisclosed “complex data feeds” that it says will help “improve the quality of market data utilized within risk management” as well as offering that data throughout the bank.

Wachovia’s risk solution makes use of snapshot, end-of-day and time-series pricing information for interest rates, credit spreads, equities, FX and commodities, gathered and managed by the AC Plus platform. Additionally, AC Plus consolidates and validates data from external sources, including Reuters, Bloomberg, FT Interactive Data and Markit Group, to provide consistency and reliability.

Wachovia is making use of Asset Control’s range of four-dimensional graphing capabilities. This will allow the bank to analyze and survey data anomalies and trends over time.

Speaking at the ISIPS conference in London this month, Martijn Groot, head of product management at Asset Control, outlined how Asset Control’s audit and backtracking functions allow clients to standardize and consolidate disparate and often-conflicting price data from multiple sources into a single consolidated price that can be published to internal application.
The process involves applying client-defined business rules to incoming and internal data sources. These rules reflect the client’s approach to data management, and may range in complexity from a sophisticated algorithm to a simple average in order to arrive at a figure that the institution is comfortable with.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Unpacking Stablecoin Challenges for Financial Institutions

The stablecoin market is experiencing unprecedented growth, driven by emerging regulatory clarity, technological maturity, and rising global demand for a faster, more secure financial infrastructure. But with opportunity comes complexity, and a host of challenges that financial institutions need to address before they can unlock the promise of a more streamlined financial transaction ecosystem. These...

BLOG

Leaving Money on the Table: Busting the Myths of North American Securities Class Action Claims for European Investors

North American securities class actions, particularly within the United States, represent one of the most developed frameworks globally for shareholder redress. Operating on an opt-out basis, this passive participation model automatically includes eligible investors, including those based in Europe, allowing them to obtain compensation without initiating litigation. Despite the fact that billions of dollars are...

EVENT

Eagle Alpha Alternative Data Conference, London, hosted by A-Team Group

Now in its 8th year, the Eagle Alpha Alternative Data Conference managed by A-Team Group, is the premier content forum and networking event for investment firms and hedge funds.

GUIDE

Putting the LEI into Practice

Hundreds of thousands of pre-Legal Entity Identifiers (LEIs) have been issued by pre-Local Operating Units (LOUs) in the Global LEI System (GLEIS), and the standard entity identifier has been mandated for use by regulators in both the US and Europe. As more pre-LEIs are issued ahead of the establishment of the global systems’ Central Operating...