Outsourcing service provider Capita Financial Group has selected Interactive Data to become its primary data vendor for pricing and reference data. Karl Midl, programme director at Capita Financial Group, which is a subsidiary of Capita Group, indicates that the data feed has already gone live for data including corporate actions and income data.
Midl explains that the firm has opted to take a daily download of Interactive Data’s intraday and end-of-day pricing and reference data.
According to the vendor, it was selected due to the breadth and depth of its pricing and reference data, as well as the ability to customise its offerings. Capita Financial Group has also opted to receive Interactive Data’s price comparison reports, which the vendor says can be tailored to client requirements.
“The price comparison reports will enable our fund accounting teams to compare intraday prices against those of the same time on the previous day of trading and highlight any securities that fall outside our selected tolerance levels,” explains Midl.
The data is being made available to Capita Financial Group via FTS, Interactive Data’s securities administration tool, and integrated into SunGard InvestOne Enterprise, a browser-based interface for accessing and analysing investment accounting and portfolio management data.
Brendan Beith, sales director at Interactive Data (Europe), explains that the vendor had completed some integration work before the solution could go live. “Interactive Data has worked extensively with SunGard to customise the interface to help meet Capita Financial Group’s requirements. We place great emphasis on working with third party providers for the benefit of our customers and have interfaces with some 250 software and application vendors around the world,” he explains.
Capita Financial Group is a service provider to 130 clients, including asset management and hedge fund institutions, and provides a range of outsourced trade processing, operations and back office services.