Asset Control says Wachovia Corporation has appointed Asset Control to manage price data for risk management operations within its corporate investment bank. The implementation is scheduled to go live in the first quarter of 2005.
“The Asset Control technology being deployed on this project will improve our risk management and research capability,” says Barry Fenwick, Divisional Information Officer of Wachovia Corporate Investment Bank. “The new platform will allow us to leverage our comprehensive market history and provide additional analytical services to our clients.”
The Wachovia system will be configured from the AC Plus modular framework to gather and manage snapshot, end-of-day and time-series pricing information for interest rates, credit spreads, equities, FX and commodities. The Asset Control solution was evaluated in proof-of-concept testing and will be delivered in a turnkey implementation, including feed handlers for multiple data vendors.
“Turnkey delivery of data management solutions enables our customers to dramatically reduce implementation time and focus on their projects, instead of the software,” says Ger Rosenkamp, CEO of Asset Control. “We are delighted to launch our turnkey deliveries of AC Plus solutions with one of the most respected names in US banking.”