Deutsche Bank has chosen Asset Control software to centralise its management of securities pricing, reference and corporate actions data.
The system, which is initially being implemented in Deutsche International (Ireland), will serve fund administration and custodian operations in Europe, Asia and North America. The Asset Control package will replace a number of proprietary systems.
The project is now in pre-production in Dublin and is scheduled to go into production at the end of this month. Initially, four vendor data feeds will be integrated with more being added over the next year. In the first phase, it will feed data into three fund administration and pricing systems, with extension into additional bank systems in the near future.
Ger Rosenkamp, CEO of Dutch-based Asset Control says Deutsche Bank joins a growing number of clients who are extending their use of the vendor's data cleansing software into administration and pricing of investment funds.
He adds: "Their commitment to a global implementation is an important confirmation of our centralised golden-copy approach to gaining data consistency in support of operational efficiencies and straight-through processing.”