Dutch-Belgian banking group Fortis has licensed technology from financial services vendor Screen Consultants to manage its market data costs.
The vendor says the Screen INFOmatch system will support the profiles of 2000 market data end-users across the bank and will handle contract management, cost allocation, permissioning and budgeting activities.
Screen Consultants says the platform will initially manage Fortis' market data expenditures in Brussels, Amsterdam and Luxembourg but may be extended to other countries in future.
The system will interface with Fortis' HR databases and will synchronise data on a monthly basis.
Cor Breur, global market data co-ordinator, Fortis comments: "For our market data consultants it is vital to have management reports available by mouse-click. In addition, we wish to avoid manual updates and the risk of incorrect data entry. We therefore want interfaces to systems holding the same data in order to synchronise databases."