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Asset Control live at Citadel; adds CB.Net settlement data to AC Plus

29 November 2004  |  1577 views  |  0 Source: Asset Control

Asset Control, a leading provider of centralized data management solutions to the financial industry, today announced that Citadel Investment Group, L.L.C., a global leader in alternative investments, has successfully deployed Asset Control's AC Plus data management platform.

This deployment includes significant new enhancements co-developed by the two firms.

"We are delighted to have met Citadel's demanding requirements in this first round of co-development work, " said Ger Rosenkamp, CEO of Asset Control. "As a result of this collaboration, AC Plus now has added speed and scalability, as well as new features to expedite implementation and simplify administration of centralized data platforms."

Enhancements to the AC Plus platform include data model extension, streamlining of the reference data model to speed queries and reduce administrative overhead, and increased speed of data loading. The enhancements have attracted interest in the Asset Control customer base and several firms currently scheduling implementation of these new features.

Separately, Asset Control, a leading provider of investment data management solutions to the financial industry, today announced that CB.Net's BankSearchPlus, the definitive international payments directory, will be integrated into the AC Plus data management solutions.

CB.Net provides over 70,000 standing settlement instructions (SSIs) linked to 8,500 BICs and national bank sort codes for over 60 countries, providing support STP, back-office processing, settlements and credit risk management.

"Our alliance with CB.Net expands the capability of AC Plus to support the full range of data required for transaction processing and settlement for straight-through processing and counterparty management," said Ken Payne, director of sales and marketing at Asset Control. "Our customers have expressed strong interest in this data, and we are delighted to provide full integration of SSIs into our centralized data management system."

"By providing instant integration of BankSearchPlus into AC Plus solutions, Asset Control enables us to reach more customers with this essential tool for eliminating cost and risk from the settlement cycle," said Ian Dunning, managing director at CB.Net. "We are already building a shared customer list and look forward to working together with Asset Control."

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