Fitch Solutions joins Bloomberg PolarLake managed EDM service

Source: Fitch Solutions

Fitch Solutions will provide its credit rating data through Bloomberg PolarLake's Enterprise Data Management (EDM) service, executives from both companies announced today.

Bloomberg PolarLake's EDM service acquires, manages and distributes large volumes of financial data so it can be distributed to mission critical risk, trading, and regulatory reporting systems. This service now incorporates Fitch's global credit rating coverage for Sovereigns, Public Finance, Corporate Finance, Financial Institutions and Structured Finance.

"Bloomberg PolarLake's innovative approach to enterprise data management fits our strategy to broaden market access to our suite of credit market products and services," said Ian Rothery, Fitch Solutions' Global Head of Strategic Partnerships.

Adding Fitch's credit ratings data to the EDM service gives financial institutions an independent and fundamental view of long-term credit risk, which helps support risk management and regulatory reporting requirements, such as those mandated by Solvency II and Dodd-Frank.

"Credit and counterparty risk are critical issues for finance professionals, especially with many firms now facing new capital rules and requirements specifying how to benchmark investment portfolios and evaluate OTC-traded securities. The addition of Fitch's credit rating data into our EDM offering will help our clients make more informed risk management and investment decisions going forward," said John Randles, Chief Executive Officer of Bloomberg PolarLake.

Fitch Solutions joins other leading data providers that have aligned with Bloomberg PolarLake to build a comprehensive solution to the challenge of centrally managing multiple data sources and distributing that data to pertinent systems and authorized users across an organization. Bloomberg PolarLake's managed service model for EDM helps global firms manage enterprise data processing and administration without incurring the cost of hardware maintenance and software upgrades. 

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