NYSE Euronext’s valuations service subsidiary, Prime Source, has selected Asset Control’s AC Plus financial and reference data management software to support the data requirements of its independent valuations business. Marie-Helene Cretu, CEO of Prime Source, explains that it has implemented the software to cope with increasing customer demands for new markets, geographies and instruments, all of which has a significant impact on the vendor’s data requirements.
Accordingly, Prime Source hopes to use AC Plus to update its data management system to support the management of financial data sources and customers’ portfolios. Cretu explains: “As our customers expand into new markets and geographies to trade a growing list of complex financial instruments, we must ensure that the way we handle our multiple data sources is the most efficient. In this matter, Asset Control’s AC Plus will allow Prime Source to stay ahead of the industry’s trends by ensuring reliability and transparency in the data management and quality in the audit trail.”
Launched in February 2008, Prime Source provides financial institutions with a portfolio valuation service covering asset classes and financial instruments, including both plain vanilla and complex structured products.