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: End-to-End Lineage for Financial Services: The Missing Link for Both Compliance and AI Readiness

The importance of complete robust end-to-end data lineage in financial services and capital markets cannot be overstated. Without the ability to trace and verify data across its lifecycle, many critical workflows – from trade reconciliation to risk management – cannot be executed effectively. At the top of the list is regulatory compliance. Regulators demand a...

BLOG

Fitch Opens New Chapter with Data Distribution and AI Strategy

Fitch Solutions’ recent extension of its distribution strategy to include a presence on Snowflake is the first step in a programme of leveraging the company’s huge cache of credit ratings and research data. The move, which saw Fitch add its core credit ratings products on Snowflake Marketplace earlier this year, will be followed by other...

EVENT

Eagle Alpha Alternative Data Conference, Spring, New York, hosted by A-Team Group

Now in its 9th year, the Eagle Alpha Alternative Data Conference managed by A-Team Group, is the premier content forum and networking event for investment firms and hedge funds.

GUIDE

FRTB Special Report

FRTB is one of the most sweeping and transformative pieces of regulation to hit the financial markets in the last two decades. With the deadline confirmed as January 2022, this Special Report provides a detailed insight into exactly what the data requirements are for FRTB in its latest (and final) incarnation, and explores what needs to be done in order to meet these needs on a cost-effective and company-wide basis.