San Francisco-based HighMark Capital Management has implemented Citadel’s Cadis Data Management Platform (DMP) to support its new order management system (OMS) implementation.
Citadel’s selection by HighMark Capital, which serves as investment advisor for HighMark Funds, is the second buy-side win announcement for the data management software firm this year. Scotland-based investment management firm Aegon Asset Management UK Ltd. emerged as a client last month. (Reference Data Review, February 2006).
HighMark, which purchased the Cadis software last November, says it chose the Citadel platform because of its business-focused user interface, ease of implementation, ability to build in prioritized phases and its fit with HighMark’s technical architecture.
The implementation took four months and was undertaken primarily by HighMark staff with support from Citadel partner consultancies, which include IMP Consulting, Implementation Solutions and Column A. A relative newcomer to the data management space Citadel focuses on the buy-side segment. Its strategy is two-fold.
A ‘powered by Cadis’ strategy looks to white-label its data management technology for use by software providers, while a second strategy focuses on competing in the enterprise-wide data management (EMD) software space, occupied by the likes of Asset Control, Goldensource and Cicada.