Full service securities lending agent eSecLending has selected Asset Control’s AC Plus financial and reference data management software with a view to supporting its efforts to increase automation in its securities lending programmes. According to the vendor, the solution was chosen following a rigorous search and selection process.
AC Plus will therefore support the development of eSecLending’s securities lending programmes, which it says rely on complete and accurate securities data including ratings, end of day prices and corporate actions. The firm hopes that AC Plus will help it in cleansing data and managing exceptions, while supporting increasing volumes and breadth of data.
Daniel Fowler, chief information officer at eSecLending, explains the reasoning behind its choice of AC Plus: “We chose Asset Control’s AC Plus for its ability to handle large volumes of all asset classes. The flexible data model will allow us to continue to grow our business while achieving greater efficiencies and scalability. AC Plus’ cleansing and exception process, through its intuitive desktop interface, will allow us to significantly reduce manual processing and ensure that quality data is available quickly to lenders and borrowers.”
Phil Lynch, Asset Control’s president and chief executive officer, adds: “In the rapidly growing securities lending business, the ability to efficiently support high volume lending and borrowing with quality data is a crucial imperative. Asset Control’s AC Plus provides the right data management tools to help industry innovators such as eSecLending to gain efficiencies, improve data quality and enhance service, with room to scale and expand as their business needs change.”