M&G Investment Management, the UK and European funds management arm of Prudential Group, has licensed FTI's (Financial Technologies International) reference data platform, StreetReference.
M&G is initially constructing a data mart for all security related data for fixed income transactions, with customer and counterparty data added subsequently.
Martin Lewis, M&G's chief operating officer, says StreetReference was selected under competitive tender because it met the firm's immediate requirements for sourcing and storing fixed income instrument terms and conditions and is expected to meet future requirements for reference data.
At M&G, FTI's StreetReference will act as the data integration platform that aggregates and stores data from multiple real-time sources, such as data vendor feeds or in-house applications. The centralised data is normalised, consolidated and cleansed for distribution to applications to relevant M&G departments.
"A key contributor to making informed investment decisions is accurate reference data," says Lewis. "The acquisition of StreetReference as the basis of a centralised source of accurate fixed income instrument data, accessible by key business functions, can help achieve operational efficiencies."