Austrian bank Raiffeisen Zentralbank (RZB) has selected Thomson Reuters’ Enterprise Platform for data management across the RZB Group. The bank is currently engaged in establishing a new market risk infrastructure, which it hopes will provide it with the ability to hedge its portfolios more effectively, enabling substantial savings in hedging costs.
The bank engaged in a competitive review and chose Thomson Reuters’ solution due to its data orchestration capabilities, says RZB. Alexander Tsorlinis, head of market risk management at RZB, explains: “We chose Thomson Reuters Enterprise Platform because it fits in with our component based approach to build up a highly flexible market risk management system.”
The platform will allow data integration to be carried out within its own and third party systems. RZB’s upgraded market risk management system will be supported by the complete Thomson Reuters Enterprise Platform, says the vendor. This includes Reuters Reference Data System (RRDS), which will acquire, cleanse and store market data, along with derived market data and risk factors. It also encompasses Reuters Enterprise Integration Engine (REIE), which will provide data orchestration between the Thomson Reuters components and RZB developed components and third party systems, and will also integrate real-time data from the Reuters Market Data System (RMDS).
Jon Robson, president of Enterprise, Thomson Reuters, comments: “This agreement provides RZB with a flexible, enterprise class data management and orchestration solution that will significantly reduce the risk and cost of integrating data into their important new market risk infrastructure.”