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GoldenSource "Powered By" Program Takes Steps to Standardize Data Management Across Entire Data Supply Chain

Program includes data and services firms such as IBM, OpHedge and Broadridge Financial Solutions

GoldenSource Corporation, a global software provider of Enterprise Data Management (EDM) solutions for financial and securities institutions worldwide, today reported that its "Powered By" program is helping the company take strong steps towards improving ease of communication not only within financial institutions but across the entire data supply chain. Firms that have joined the program include providers such as Broadridge Financial Solutions and securities services and middle/back office administrators such as OpHedge, IBM SIS and a large global investment bank.

As EDM technologies gain wider acceptance and the benefits of centralized, good quality data are realized within financial institutions, the pressure on external data providers to supply the same quality of service continues to rise. GoldenSource created the "Powered By" partner program to make its EDM platform widely available to all participants in the data value chain.

Broadridge Financial Solutions, Inc., (NYSE: BR), formerly ADP's Brokerage Services Group, is using GoldenSource to power its Global Reference Data Solution, a fully managed enterprise solution that combines capture, scrubbing, storage and distribution of mission critical reference data in an outsourced solution. "We want to provide our clients with the best data management possible - GoldenSource was an obvious choice. We can see that wider market adoption of standard solutions such as Broadridge's Global Reference Data Solution and the GoldenSource suite will bring increased efficiencies to the data supply chain, which will ultimately benefit the end user in financial institutions," said Richard Stumm, VP of business development, Broadridge Financial Solutions.

OpHedge Investment Services, LLC, a leading hedge fund administrator, uses GoldenSource's EDM platform to streamline its reporting and data management process by creating, maintaining and publishing a standardized reference data repository for all financial instruments. "There is demand from the industry to move to a standard practice and methodology for managing data - you can see that through the interest and participation in the EDM Council. We see GoldenSource as the leader in this area and their "Powered By" program means financial institutions stand to have plug and play data from all parts of the industry. This would be a great thing for all participants," says Jeff Li, CIO, OpHedge Investment Services.

A leading global investment bank, which offers outsourced back office processing to the buy-side, is now offering its clients a trusted data source and function using GoldenSource. IBM Securities Information Service (SIS) has also licensed the EDM suite as part of its brokerage processing solutions for Canadian securities clients.

"Business growth and risk mitigation are among the drivers for improved data quality within financial services firms. Companies along the full data supply chain serving these institutions realize that in order to meet their customers' goals, they need to be able to provide them with a single view of quality data. For this they are turning to GoldenSource as a powerful and proven solution, which delivers the scalability and flexibility these firms demand as they grow their data services businesses," explains Michael Meriton, GoldenSource President and CEO.