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Asset Control adds SwiftNet functionality

11 October 2004  |  1067 views  |  0 Source: Asset Control

Asset Control, leading provider of centralized data management solutions to the financial industry, today introduced SWIFTNet functionality as a major step forward in its support of streamlined operational coherency within financial firms and across the capital markets industry. This functionality enables users to aggregate data, such as corporate actions and vendor-provided market data, transported over SWIFTNet. It also offers a simplified means of sharing data to select groups of recipients on SWIFTNet, the most ubiquitous network in the capital markets realm.

"At Asset Control, we see operational coherency as an industry objective that incorporates the demands of regulators, shareholders, markets and customers for transparency and efficiency. The combination of our centralized data management and SWIFTNet's investment data transport through a network of more than 7,000 users offers a quantum leap forward in simplifying system architectures with multi-functional, future-proof elements " said Ger Rosenkamp, CEO of Asset Control.

He continued, "SWIFTNet, as a single point of access to multiple data sources and as a global distribution medium, offers a vital expansion of our own AC Data Network strategy. By centrally managing and distributing data, creating new data factors, and integrating the entire realm of investment data, the sum of our two parts offer extraordinary potential to streamline internal operations, as well as contribute quality and consistency to industry information resources."

The new functionality will enable SWIFTNet users to easily move data delivered over SWIFTNet in and out of the AC Plus server in industry-standard and proprietary formats, as well as integrate the data with data from other sources. SWIFTNet functionality will be available in all AC Plus solutions, including AC PriceMaster, AC SecurityMaster, AC CompanyMaster and AC CorporateActions for consolidation and manipulation of multi-sourced data, as well as AC SmartFeed for single-source data management.

"As an early participant in the new program of market data transport on SWIFTNet, Asset Control has recognized that SWIFTNet provides unique opportunities for data networking in the capital markets industry," said Catherine Marks, SwiftSolutions Manager, Asset Servicing, of SWIFT. "The Asset Control functionality enables SWIFTNet users to envision new options in using SWIFTNet and the data it transports."

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