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Aim-To reports bank contract win

19 May 2010  |  1885 views  |  0 Source: Aim-To

Aim-To, a leading provider of market data, telecom and expense management solutions to major banks, hedge funds and financial services firms announced today that it has been selected by a top‐ranked bulge bracket bank to help manage its multi‐million dollar market data spend worldwide.

The project goal is to reduce costs, identify savings, and put better controls and processes in place to manage spending.

"During the last two years, many factors have converged to change the tools, methodologies and approach to reducing market data costs in financial services organizations. Financial services firms are re‐evaluating the traditional market data management software applications. Many of these solutions have reached the limits of their original architecture and can't be easily adapted to stricter rules, internal policy requirements, and changing vendor and exchange billing models. This client along with other large firms realizes the benefits of independent analysis and outsourcing non‐essential business practice," says John T. Vaughan, President and Founder of AIM‐TO.

"Financial industry firms must re‐evaluate their vendor and exchange management software and reporting tools. In many cases, vendor software that has been installed and home grown applications are too costly and increase headcount to manage this function. We can save them money and give them the power to improve productivity," Tim Vaughan, Vice President, AIM‐TO. "The key to our success is we deliver measurable and sustainable financial benefits to our clients by developing and installing processes and programs to rapidly improve our client's market data management operations integrity."

More than ever, companies need timely, in‐depth market data cost insights if they are to remain competitive globally. But those insights can only come from better ways of accessing, organizing and interpreting market data information-in effect, from a "whole business" approach to market data analytics.

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