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

Wachovia Expands Use of AC Plus To Boost Risk Data Quality

Subscribe to our newsletter

Wachovia Corp. has once again expanded its use of Asset Control’s AC Plus data management platform to boost the capabilities of its internal risk management function. Wachovia originally implemented AC Plus in its risk management operation in 2004 (Reference Data Review, January 2005) and subsequently extended its use to other areas of the enterprise as part of a three-year project (Reference Data Review, September 2005).

The latest expansion involves the addition of sources of market data used to support Wachovia’s risk management systems. The bank has added several undisclosed “complex data feeds” that it says will help “improve the quality of market data utilized within risk management” as well as offering that data throughout the bank.

Wachovia’s risk solution makes use of snapshot, end-of-day and time-series pricing information for interest rates, credit spreads, equities, FX and commodities, gathered and managed by the AC Plus platform. Additionally, AC Plus consolidates and validates data from external sources, including Reuters, Bloomberg, FT Interactive Data and Markit Group, to provide consistency and reliability.

Wachovia is making use of Asset Control’s range of four-dimensional graphing capabilities. This will allow the bank to analyze and survey data anomalies and trends over time.

Speaking at the ISIPS conference in London this month, Martijn Groot, head of product management at Asset Control, outlined how Asset Control’s audit and backtracking functions allow clients to standardize and consolidate disparate and often-conflicting price data from multiple sources into a single consolidated price that can be published to internal application.
The process involves applying client-defined business rules to incoming and internal data sources. These rules reflect the client’s approach to data management, and may range in complexity from a sophisticated algorithm to a simple average in order to arrive at a figure that the institution is comfortable with.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Navigating a Complex World: Best Data Practices in Sanctions Screening

As rising geopolitical uncertainty prompts an intensification in the complexity and volume of global economic and financial sanctions, banks and financial institutions are faced with a daunting set of new compliance challenges. The risk of inadvertently engaging with sanctioned securities has never been higher and the penalties for doing so are harsh. Traditional sanctions screening...

BLOG

Embrace the Threat: How Software Firms Can Head Off ‘SaaS-pocalypse’

Recent stock market losses among software providers have prompted some analysts to predict a coming “SaaS-pocalypse” as software companies are threatened by artificial intelligence that can write code and build software quickly and cheaply. The doomsayers may be premature, however. While AI undoubtedly has the ability to supplant some of those firms, it also presents...

EVENT

Data Management Summit New York City

Now in its 15th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Trading Regulations Handbook 2021

In these unprecedented times, a carefully crafted trading infrastructure is crucial for capital markets participants. Yet, the impact of trading regulations on infrastructure can be difficult to manage. The Trading Regulations Handbook 2021 can help. It provides all the essentials you need to know about regulations impacting trading operations, data and technology. A-Team Group’s Trading...