Citadel Associates, the provider of Enterprise Data Management (EDM) systems for the buy-side, today announced that Principal Global Investors has selected CADIS as its global data management platform.
With CADIS, Citadel's component-based platform for the management of corporate data, Principal Global Investors can benefit from the company's Investment Solutions Layer approach for handling multiple data sources.
Principal Global Investors is a diversified asset management organisation with expertise in equities, fixed income and real estate investments and is a member of the Principal Financial Group.
Stuart Plane, director, Citadel Associates, comments: "Firms, particularly in the buy-side, face several challenges in handling their corporate data, including the ability to trade new asset classes quickly to gain a competitive advantage. That Principal Global Investors has selected CADIS as its strategic data management platform is a significant endorsement of our ability to help global firms address their EDM requirements."
Citadel's Investment Solutions Layer proposition enables firms to quickly integrate multiple data sources into a single EDM platform. In addition, firms can change accounting systems without the need for significant IT development, allowing them to effectively manage outsourced investment accounting or fund administration.
Citadel's technology delivers a highly efficient and fully audited environment for the management, processing, cleansing and enrichment of corporate data. The CADIS platform unites legacy systems and empowers the business user, allowing them to overcome the challenge of disparate data sources. Implementing a new OMS, compliance, performance or risk system places significant stresses on the data infrastructure of an organisation. Through a combination of standardised interfaces and a flexible schema, CADIS enables firms to address these data issues, significantly reducing implementation times and the associated risk. With Citadel's open architecture, firms can continue to pick the best fit solutions, outsource their IT and confidently enter new markets such as derivatives and hedge funds.