HSBC signs for GoldenSource data management technology

HSBC signs for GoldenSource data management technology

HSBC has signed a global license for GoldenSource's Enterprise Data Management technology which it will implement across its corporate, investment banking and markets (CIBM) division.

The bank says it will use GoldenSource's data management system to manage and consolidate reference data for securities, customers and counterparties together with transaction data. The platform also includes 'connectors' that provide interfaces to major market data vendors, including Reuters, Bloomberg and Telekurs.

GoldenSource says HSBC will initially use its technology to build an enterprise data platform that will power CIBM's electronic securities trading application, prior to rolling it out to other systems across the department.

The bank aims to build an integrated application suite that can deliver an operational trading environment based on centralised data repositories.

Michael Meriton, president and CEO of GoldenSource, says HSBC recognises that "a well-defined enterprise data management infrastructure can help them integrate their enterprise by centrally cleansing, enriching and applying the data needed to comply with the stringent execution demands of a real-time electronic trading platform".

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