Asset Control says Standard Chartered has bought its PriceMaster dat product to manage price data from multiple sources and generate risk factors for markets in the US, EU, Asia, the Middle East and Africa. The first phase of the implementation is projected for completion at the end of the year.
“As a leader in Asia, Africa and the Middle East, Standard Chartered is in more than 50 markets,” says Rajesh Bhatia, Group Head of Market Risk at Standard Chartered. “Therefore, our data layer must support not only advanced risk control, but also provide global access and manipulability to support timely research and disciplined pricing. Asset Control met our criteria and stood out among the competition for the maturity of its product and the breadth of its functionality.”
Asset Control says the purchase of AC PriceMaster followed a comparative analysis of competing data management solutions. “We are proud to welcome Standard Chartered into the Asset Control customer group, and we look ahead to extending this implementation into Southeast Asia,” says Ger Rosenkamp, CEO of Asset Control. “As Basel II adds new stringency to risk-related data management, financial institutions are revamping their market data management for increased operational efficiency and transparency. For these firms, AC PriceMaster offers all our established strengths in pricing data management, with the added benefit of off-the-shelf speed of implementation.”
AC PriceMaster is the new quick-start version of the Asset Control price data management solution that is currently used by virtually every Asset Control customer.