EDM Council, a not-for-profit business forum dedicated to addressing the business strategies and practical implementation realities of enterprise data management (EDM), today announced that twelve institutions have recently joined the Council to collaborate on data management issues in the changing regulatory landscape.
"As data management becomes both an increasingly important regulatory and business priority, financial institutions are realizing the importance of EDM to their operational infrastructure," said Michael Atkin, managing director of the EDM Council. "Market participants are anticipating adjustments in the global regulatory landscape, and will begin embarking on projects to implement standard tags and identifiers to trace, analyze, compare and oversee market operations."
The new members include Asset Control, CounterpartyLink, Eaton Vance Managed Investments, Fidelity Investments, Interactive Data Corporation, Invesco, National Australia Bank, NewRiver Investor Communications, LakeFrontData Consulting, PolarLake, Standard Bank & Trust and SIX Telekurs Group.
Designed to standardize terms and definitions, the EDM Council released a draft version of its Semantics Repository to help eliminate common misunderstandings of terms used by different sectors within the finance industry. The new members will add value to the breadth and depth of the Semantics Repository and widen business interest.