Citadel signed a 10-year agreement to allow Accenture to manage its financial databases.
Accenture will oversee Citadel’s “reference data”, which contains about 40 percent of the information used in a trade.
“With one-third of trade execution problems caused by reference data errors and with new and unprecedented regulatory standards for data quality,” said Patricia Tsien, partner in charge of Accenture managed reference data service. She predicts that “centralized reference data management will soon be synonymous with high performance in the global capital markets.”
Accenture Managed Reference Data Service is the financial industry’s first multi-source managed service for referential data on global equities, fixed income, and derivative securities that includes pricing data, fundamental securities data, and global corporate actions with both automated and manual data cleansing, validation and enrichment.