FinancialSockets licenses Citadel data management system

Source: Citadel Associates

Citadel Associates announced today that FinancialSockets, a New York based vendor specialising in commission management solutions, has licenced its innovative data management product, CADIS. FinancialSockets will use CADIS solutions internally and create applications based on CADIS technology known as "Powered by CADIS".

"I am delighted to be working with FinancialSockets, they are a truly innovative company. This agreement demonstrates our commitment to the US market and I look forward to working with FinancialSockets and their impressive client base," said Jean Williams, Managing Director of Citadel Associates.

CADIS is being used by FinancialSockets in two areas, namely:
  • To manage and streamline the collation, cleansing and dissemination of data used within FinancialSockets' RECAP (Research & Execution Cost Analysis Platform) product.
  • As a core technology to accelerate the deployment of new products that are now required to meet changing regulatory mandates for transparency and disclosure of commission usage.

    The "Powered by CADIS" technology enables vendors such as FinancialSockets to rapidly reduce time to market for new products. "Powered by CADIS" ensures that their domain expertise is wrapped in the leading data management technology available in the market.

    CADIS solutions are designed to solve the most difficult data acquisition and integration issues facing the investment management community and to significantly reduce implementation costs affiliated with regulatory compliance. Citadel Associates unique pricing model enables clients to tightly control costs and maximise return on investment.

    "The combination of FinancialSockets domain expertise and CADIS technology provides our clients with industry best practices in commission management," said Ellen Hunt, CEO of FinancialSockets. "The CADIS technology enables us deliver commission management tools that support profitable portfolio performance, the gold standard in asset management."
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