LCH.Clearnet Ltd. has chosen ECOFIN’s data models “Financial Instruments Data Model (FIDM(tm))” and “Middle Office Data Model” (MODM) as a core element of its next generation clearing applications.
“FIDM(tm)” allows for the complete description of terms and conditions data of financial instruments, while “MODM” is used for the establishment and maintenance of positions in such instruments over time. LCH.Clearnet Ltd. ensures a stable, yet flexible and extendable data architecture for the clearing of financial instruments, the company said.
Guy Ruddock, Head of IT at LCH.Clearnet Ltd. Added, “After a thorough evaluation we concluded that ECOFIN’s data models provided the best fit to our needs. The models provide a data structure that affords the extensibility that is critical in developing our new software applications.”