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: End-to-End Lineage for Financial Services: The Missing Link for Both Compliance and AI Readiness

The importance of complete robust end-to-end data lineage in financial services and capital markets cannot be overstated. Without the ability to trace and verify data across its lifecycle, many critical workflows – from trade reconciliation to risk management – cannot be executed effectively. At the top of the list is regulatory compliance. Regulators demand a...

BLOG

New Breakout Roundtable Session Stimulates Deep Topic Discussion at DMS London

A new feature of this year’s A-Team Group Data Management Summit London was the Champagne Roundtable sessions, in which delegates were able to gather in small, informal groups for guided discussion on a range of data and technology issues facing financial institutions. The fully attended session was well-received by participants, each of whom were invited...

EVENT

RegTech Summit New York

Now in its 9th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Enterprise Data Management, 2009 Edition

This year has truly been a year of change for the data management community. Regulators and industry participants alike have been keenly focused on the importance of data with regards to compliance and risk management considerations. The UK Financial Services Authority’s fining of Barclays for transaction reporting failures as a result of inconsistent underlying reference...