Rimes talks up financial data file service
25 July 2007 | 1759 views | 0
Source: Rimes Technologies
SmartFiles, the custom financial data file service from Rimes Technologies, is now being used by leading performance attribution specialists to provide the appropriate depth and variety of data needed to benchmark performance accurately and comprehensively.
Major houses such as Pictet & Cie are already improving operational efficiency and speeding up response to demands for new data by using the RIMES SmartFiles service.
Performance attribution teams face specific challenges with sourcing, integrating and managing data. In particular, they require customised performance and comparative analysis data with inputs from many different sources, both internal and external.
RIMES SmartFiles streamlines and simplifies the use of multiple sources of proprietary data. Combining data servicing, integration and quality assurance with customised data files built to client specifications, they can include any of RIMES' 200 plus data sources, as well as derived and in-house data. Delivered exactly to meet clients' specific formatting requirements, the research, creation, updating, validation and delivery of the data files is carried out entirely by RIMES.
Data for Pictet & Cie's Performance Management team is now acquired, compiled, formatted and fed into its internal systems by RIMES, meeting very exacting requirements. According to Michel Mermoux, Head of the Market Data Unit at Pictet: "We turned to RIMES because, previously, both data quality and response times to our requests for new data had been poor, and this simply was not sustainable for us. To provide the service our clients expect, we need to have the very best quality data available, validated and formatted in exactly the way we need. In addition, our clients are increasingly demanding dedicated benchmarks for their portfolios: we never know what the next request will be but we are now able to respond immediately with the support of RIMES."
Christian Fauvelais, one of the founders of RIMES Technologies, commented: "RIMES pioneered the delivery of financial data over the Internet, and since 1996 we have been providing clients with a tailored, consistent and highly-available service. We introduced SmartFiles in response to clients' demands for something which would simplify in-house data management, leaving them to focus on their core business, and this is particular appropriate for performance attribution teams. Through customised file delivery, clients receive quality data which exactly meets the specific needs of their operation, enabling them to perform their roles in the most professional way."