Swiss private bank and asset manager Pictet & Cie has selected Interactive Data’s pricing and reference data business to provide bond evaluations. Prior to the migration of Pictet’s core banking system, Interactive Data provided its bond evaluations service via a third party.
Pictet now uses the Avaloq Banking System in conjunction with Gain Data Management from Aim Software, with whom Interactive Data (Europe) has a longstanding relationship.
According to the vendor, this new platform enables Pictet to access more up-to-date and much wider coverage of bond evaluations, which are delivered via FTSSM, Interactive Data’s securities administration service.
Michel Mermoux, head of market data at Pictet & Cie, comments: “The integration of the bond evaluations service into Gain Data Management gives us direct access to a large universe of bond evaluations from Interactive Data. We currently subscribe to over 3,000 bond evaluations on a daily basis, primarily mortgage-backed securities, but also municipal bonds and other fixed income securities.”
Brendan Beith, sales director, Interactive Data (Europe), adds: “This direct feed allows Pictet to benefit from our wide range of fixed income evaluations and will also enable Pictet to subscribe to our evaluations of other asset types.”