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Aite Group Predicts Average IT Budget Cut of 5% for 2009 for US Firms
Originally appeared in MiFID Monitor US financial services firms will experience an average technology budget cut of 5% for 2009, according to a recent report by consulting firm Aite Group. The report, which is based on surveys of 28 senior technology executives at a cross section of US-based capital markets firms, indicates that these firms…
Brandes Investment Partners Implements Cadis EDM Solution
US-based investment management firm Brandes Investment Partners has finished the rollout of the Cadis EDM suite, which it selected with a view to more effectively managing its security, price and currency data. According to the vendor, the rollout was completed over a period of nine weeks. Brandes indicates that it opted for the Cadis solution…
Millennium Management Expands Beyond Valuations to Outsourcing with GlobeOp
Global multi-strategy investment management firm Millennium Management has expanded its agreement with GlobeOp Financial Services beyond its current agreement for valuation, share registry and transfer services to fully outsourced fund administration services. GlobeOp has now become the administrator of record for all three Millennium funds, whereas previously its services were limited to the Millennium International…
Seven Ways to Reduce IT Costs with Master Data Management
By Ravi Shankar, senior director of product marketing at Siperian Information technology managers are facing a dilemma given the current economic climate – despite budget cuts, companies do not expect reductions in the service levels provided by IT to the business. Under such circumstances, how do you maintain or improve service levels, and continue to…
Half of New Business in 2009 Could Come From ASP, Believes Eagle’s Lehner
Although last year witnessed continued growth in a troubled climate, 2009 is another matter, warns Eagle Investment Systems president John Lehner. Increased pressure on growth in the US will put US-based vendors under pressure to expand client reach even further and consolidation may be on the cards in the long term, he speculates. The vendor…
Financial Crisis Has Focused Institutions on Data Quality Initiatives, Says Information Difference
The recent financial crisis will not deter financial institutions from investing in master data management (MDM) and data quality systems, according to a recent survey conducted by consulting firm the Information Difference and sponsored by Trillium Software. The findings of the survey suggest that these initiatives will be of mounting importance to businesses in the…
Maintrust Selects Gain Data Management for Delivery of SIX Telekurs VDF Data
Nomura’s German asset management subsidiary, Maintrust, has gone live on Aim Software’s Gain Data Management platform in order to facilitate the automated delivery of static data from SIX Telekurs Valordata Feed (VDF) into SunGard’s V3. Maintrust indicates it decided to upgrade its data management infrastructure as result of rising compliance requirements and an increase in…
Capgemini Appoints Ezzat as CEO of its Financial Services Global Business Unit
Originally appeared in MiFID Monitor Capgemini has appointed the current chief operating officer of its Financial Services Global Business Unit, Aiman Ezzat, as CEO of the unit. Current CEO Raymond Spencer will assume the role of non-executive chairman of the business unit. Ezzat joined Gemini Consulting, Capgemini’s consulting arm, in 1991 where he was responsible…
The EDM Council Semantics Repository: A Practical Solution to the Problem of Meaning By Mike Bennett, Director, Hypercube
A common theme at conferences and events in recent months has been data quality management. Coupled with this we have seen an emerging trend whereby data is no longer regarded as a technical activity but as a true business asset, carrying business risks. Many firms are now positioning data management under operations or even directly…
GBST Completes Acquisition of Coexis, Williams and Shah Join Exec Team
Following the announcement of its intention to buy Coexis at the start of November, GBST, an Australian provider of securities transaction and fund administration software, has finally completed the acquisition. The vendor indicates that it has satisfied all the regulatory and legal requirements of the deal and will have a combined workforce of around 350….