Markit (Nasdaq: MRKT), a global provider of financial information services, today announced Acadian Asset Management LLC as its latest managed services enterprise data management (EDM) customer.
Acadian, a firm with over $69 billion assets under management, has selected Markit EDM as a foundational element of its IT architecture transformation across the front, middle and back office.
“Markit EDM will replace Acadian’s internally built security master and aid with the implementation of new portfolio accounting, order management and data management platforms,” said Peter Noll, chief technology officer, Acadian. “Markit EDM’s ability to handle our unique requirements using out-of-the-box functionality was pivotal in our decision and means we will be able to implement it effectively and quickly for multiple use cases.”
Acadian will deploy Markit EDM for security master by mid 2016 and plans follow on projects for master pricing, accounts, holdings and corporate actions data.
“Acadian’s IT transformation is an enterprise wide initiative and rapid rollout is essential to its success. By opting for a managed services EDM deployment, Acadian can take advantage of a quick and proven implementation methodology,” said Spiros Giannaros, managing director, Markit EDM. “Acadian was able to speak in depth to existing EDM customers to understand our established capabilities, approach and processes. We have noticed a definitive trend towards managed services in data management and it looks set to gather pace throughout 2016,” Giannaros concluded.