B-next and Interactive Data seal compliance alliance
05 October 2009 | 1698 views | 0
b-next Group, a pioneering provider of Market Conformity software solutions to financial institutions, today announces an alliance with Interactive Data (Europe) Ltd, part of Interactive Data Corporation (NYSE: IDC), a leading global provider of financial market data, analytics and related solutions to financial institutions. Market Conformity software solutions are designed to enable proactive management of compliance by effectively identifying potential policy and regulatory violations. With this information, customers can align internal policies and business processes to achieve their business results.
The alliance with Interactive Data combines b-next's MACOC software solutions, which is used by over 150 customers across Europe to identify market abuse, conflicts of interest, insider trading and customer specific best execution results, with a range of Interactive Data's global pricing and reference data, including static, business entity, corporate actions and class actions data, as well as ratings and classifications. The aim is to streamline and simplify potentially inefficient, disjointed and time-consuming compliance processes by providing compliance officers with a high quality dashboard of business critical compliance activities across their entire business.
Wolfgang Fabisch, founder and CEO b-next Group said, "We pioneered the concept of Market Conformity to help financial services firms manage their internal compliance and risk policies, and their obligations to end customers and the regulator. Our alliance with Interactive Data provides us with a wide range of financial information and further reduces the amount of manual processing, enabling a more proactive approach".
Brendan Beith, European sales director, at Interactive Data, added, "This alliance provides an opportunity to offer a powerful service, facilitating access to Interactive Data's wide range of content through b-next's MACOC software solutions. It is an excellent example of how Interactive Data works with software and application providers for the benefit of customers."