Asset Control, a leading provider of investment data management solutions, said that Citadel Investment Group, L.L.C., a global leader in alternative investments, has selected Asset Control’s AC Plus software to centralize management of securities data.
The Citadel implementation will consolidate management of high volumes of time-series price data, reference data and corporate actions data to serve diverse applications and users, the company said.
“We trade in a wide range of markets and the Asset Control Platform will allow us to support trading, research and operational activities across these markets for a diverse range of internal users more effectively,” said David Hirschfeld, Managing Director, IT at Citadel.
“The Asset Control product suite offers us a comprehensive solution with a minimal amount of implementation. We evaluated a number of other potential solutions in this space and found that the AC product was the most complete in terms of front to back solutions: vendor feed sourcing, arbitration/work flow engines, user-friendly client interface, and open architecture,” he said.
This announcement follows an exhaustive testing phase to evaluate the capabilities of the Asset Control platform to serve the immediate data management requirements of Citadel and to serve as the foundation for ongoing development of the data management platform. Citadel has agreed to work with Asset Control on further enhancements to the Asset Control product suite. These innovations will be incorporated into future releases to the commercially available AC Plus solutions, a spokesman for the companies said.
“In planning a strategic data management platform, the most important factor for any buyer is the need for confidence in the core technology. We are pleased that Citadel has that confidence in Asset Control, and that it derived from their comprehensive research and evaluation effort to discover the best solution on the market,” said Ger Rosenkamp. “Citadel is noted throughout the industry as a firm that is fully committed to excellence, and we look forward to providing the data management environment that supports their goals.”