Reference data provider CB.Net Ltd has today announced an alliance with counterparty data service provider Azdex Ltd and software supplier iMeta Technologies Ltd to create and implement the industry's definitive international securities directory.
This trilateral alliance has formed in response to the market's demand for accurate reference data in enabling STP for securities transactions and compliance requirements. CB.Net, Azdex and iMeta will be working together to provide this central repository of counter-party information. The initial offering will include the details of over 200,000 entities.
The project combines CB.Net's operational data expertise and market reach, Azdex's industry corroborated counterparty data and iMeta's technical platform, to build the definitive international securities directory.
Ian Dunning, managing director at CB.Net says, "Working together on the repository as a team means that we can collectively offer best of breed in each of our areas of expertise and bring this to the market a lot quicker than if one of us had embarked on this as a solo project. I look forward to presenting the end result to the market."
Ken Price, CEO of Azdex says, "This alliance provides another opportunity for the industry to leverage the growing repository of Azdex counterparty data. We'll be working together to provide a one-stop resource to the market."
Dr. Adrian Roe, managing director of iMeta comments, "iMeta has long experience of providing highly scalable, highly available software solutions and more recently experience in providing counterparty data management solutions to the securities industry. We are very excited by the opportunity to work with CB.Net and Azdex in bringing this solution to the industry."
Combining and focusing their individual strengths, the companies ensure a timely & cost effective solution. Following proof of concept, the prototype functionality will be tested by market participants. General availability and release is scheduled to be available early in 2005.