Despite the market downturn, Eagle Investment Systems has reported a heightened interest in its data management solution, particularly for the ability to manage risk and provide issuer and risk exposure reporting. The vendor claims the main driver for this increased demand stems from recent market volatility that has left many institutional investors scrambling to quantify their true exposure to distressed investments.
John Lehner, president of Eagle, says: “Overnight, our conversations with data management clients and prospects have evolved from supporting performance analysis and client reporting to how Eagle can also help with managing risk and reporting issuer and other risk exposures. We have success stories of clients that were able to determine exposure across all asset classes in a matter of minutes once the news broke about firms such as Bear Stearns and Lehman.”
Lehner points to a recent survey conducted by Dayle Scher, research director at TowerGroup, which he reckons confirms that financial services firms place a high importance on acquiring and storing entity data. They place value on this area because of its impact on credit analysis, application integration, and compliance with know your customer regulations. Scher says: “The high importance attributed to the impact of entity data is hardly surprising in the post subprime environment as, now more than ever, financial services institutions need quick access to their counterparty and issuer exposure.”