Temenos to deliver FT Interactive market data over T24
08 June 2006 | 1497 views | 0
Source: FT Interactive
FT Interactive Data, an Interactive Data business (NYSE: IDC) and a leading supplier of financial information to global markets, and TEMENOS, a leading provider of integrated modular core banking systems, today announced that they have entered into an alliance to provide a wide range of FT Interactive Data's content via TEMENOS T24.
FT Interactive Data is providing global pricing and evaluations, corporate action and reference data via an interface to the TEMENOS T24 banking system. Also included is FT Interactive Data's European Union Savings Directive (EUSD) data, which is fully integrated with the TEMENOS EU Tax module. An automated upload of FX rates and periodic interest rates, as well as a market indices update, is additionally available.
The interface, which is flexible and customisable, enables the automation of pricing and evaluation data for securities stored in TEMENOS T24. Users may select from different price types – including FT Interactive Data's independent bond evaluations service – to help with portfolio valuation.
Covering a set of standard fields, the interface allows users to create new and update existing security records in the TEMENOS T24 Security Master. Users also have the flexibility to enhance the interface to incorporate user-defined areas. Automatic generation of dividend and coupon payments, which are then processed within TEMENOS T24, is available.
The TEMENOS T24 banking system combines comprehensive and powerfully flexible business functionality with advanced and scalable architecture. TEMENOS T24 is built on open architecture, offers low cost of ownership and uses established standards such as HTTP, XML and J2EE. Data processing within TEMENOS T24 is fully automated and does not require any user intervention other than data verification tasks.
Graham Parry, manager of FT Interactive Data's European Business Development Group, said: "We are in the final stages of rigorously testing the interface with TEMENOS and are pleased with the flexibility of the service. Benefits of the interface include the automation of file delivery and security universe maintenance, as well as a broader range of data items and asset classes. Our cooperation with TEMENOS reflects FT Interactive Data's strategy to work with software vendors for the benefit of customers."
Mark Gunning, Group strategy director, TEMENOS, added: "Our alliance with FT Interactive Data enables us to deliver a much more comprehensive offering to our clients. As well the standardised interface giving clients a pre-configured template to deliver mission critical data, FT Interactive Data will also be able to provide data that will help our clients address regulations such as MiFID. We believe that this alliance will bring benefits to both new and existing TEMENOS customers."