About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Olayan Group to Implement TAPMaster as Core Data Platform

Subscribe to our newsletter

The Olayan Group, a Saudi multinational, has decided to implement TAP Solution’s TAPMaster platform as its core reference data management system for its asset management operation. The deal is the first for TAP for some time, following its big win at Morgan Stanley (Reference Data Review, January 2005).

At Olayan, TAPMaster will become the company’s corporate data hub. As such, it will provide the platform for deploying and managing a full range of reference data, including securities, issuers, counterparties, transaction and holdings. Olayan plans to use the new implementation, which is part of a major systems upgrade, to support new applications for portfolio accounting, order management and general ledger.

According to Ali Al-Ashqar, Olayan’s CTO, partly due to limitations on its IT resources, the company was seeking an off-the-shelf system to form the foundation of its new enterprisewide system architecture. Al-Ashqar says key requirements were ease of implementation of new business applications and the flexibility to integrate new asset classes, compliance requirements and data sources in the future.

Having made its decision to install TAPMaster, Olayan plans to begin implementation next month, with full integration with the new applications expected to be completed before the end of the year. TAP Solutions will work on the implementation with Olayan’s staff in New York, London and Athens. As part of the project, TAP Solutions will convert historical information held on a number of legacy systems over to the new platform.

Olayan operates a variety of businesses in a range of industries, including distribution, manufacturing and services. As a corporate, it is a major investor in both listed and private equities and fixed-income securities.

TAP Solutions came to prominence after winning the contract to provide Morgan Stanley’s retail brokerage – the former Dean Witter Reynolds – with a new enterprisewide securities master service. The Securities Master Service (SMS) was Morgan Stanley’s initiative to implement a centralized database to feed normalized data from multiple sources to a wide range of applications. These applications previously drew upon discrete security master files that had been designed to satisfy the specific requirements of the respective applications. This legacy situation made comprehensive and consistent updating of fields difficult. As a result, Morgan Stanley turned to TAP Solutions to provide its TAPMaster platform as a base data model for the SMS facility.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: An Agile Approach to Investment Management Platforms for Private Markets and the Total Portfolio View

Data and operations professionals at private market institutions face significant data and analytical challenges managing private assets data. With investors clamouring for advice and analysis of private markets in their search for returns, investment managers are looking at ways to gain a more meaningful view of risk and performance across all asset types held by...

BLOG

AI is Helping to Solve New ESG Data Challenges: ESG Briefing Review

The peculiar demands that ESG data integration places on capital markets participants requires powerful techniques that are increasingly being provided through artificial intelligence, A-Team Group’s recent ESG Data and Tech Briefing London heard. From data quality monitoring and analytics to supply chain analysis and investment management, AI-based tools are already offering automated solutions to some...

EVENT

TradingTech Summit London

Now in its 15th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Regulatory Data Handbook 2025 – Thirteenth Edition

Welcome to the thirteenth edition of A-Team Group’s Regulatory Data Handbook, a unique and practical guide to capital markets regulation, regulatory change, and the data and data management requirements of compliance across Europe, the UK, US and Asia-Pacific. This year’s edition lands at a moment of accelerating regulatory divergence and intensifying data focused supervision. Inside,...