Beetsterzwaag, Netherlands, March 31, 2003 - Asset Control, a leading provider of investment data integration solutions to the financial industry, today announced the completion of mapping the Telekurs Valordata Feed (VDF(tm)) to the Asset Control system. Asset Control currently is normalizing the VDF data to the Asset Control data model. The data model serves as a common standard for normalization of incoming data feeds, simplifying consolidation of multiple data sources into a single "golden copy" data set.
The Asset Control data model is aligned with current industry standards such as ISO 15022 and MDDL, adapting to new extensions of these standards as they are adopted by the industry. Its data coverage includes market data, reference data and corporate actions.
Along with the VDF interface, the mapping of the VDF data is now a stock component of AC Plus, Asset Control's plug-and-work data management solution for in-house use. This is the first of a series of Asset Control announcements regarding normalization and subsequent cleansing and consolidation protocols for major vendor feeds.
"By simultaneously translating vendor feeds to a common data standard before consolidation, we eliminate the largest part of data integration work," said Ger Rosenkamp, CEO of Asset Control, "and we create an environment in which our customers can freely choose the components of their golden copy, with minimal concern of how any feed's characteristics might complicate the overall consolidation process."
The methodology of normalizing vendor feeds to a common standard, based on emerging data standards, is made possible by the proven stability and extensive functionality of the Asset Control platform, as well as the investment of tens of thousands of man hours in data mapping and developing terms, definitions and relationships. The methodology will also be used by ACDEX, the Asset Control outsourced utility for investment data management.
"Managing, integrating, and distributing reference data is a significant challenge for investment firms as virtually all parties have a different view of this data," observes Larry Tabb, senior strategy advisor of the TowerGroup. "Having a common, standardized, cross-vendor data model is the first step in enabling firms to have a consistent development target, ensuring a common platform across the firm and eventually the industry which will simplify software development, enhance operational efficiency and drastically reduce cost."
Integration of VDF Corporate Action Data To Custodian Data The VDF is one of the leading sources of pricing, reference and corporate actions data. The normalization of the corporate actions part of the feed is particularly relevant to the recent announcement of a strategic partnership between Asset Control and XcitekSolutionsPlus, a leading provider of corporate actions
By normalizing vendor-sourced corporate actions data to the ISO 15022 standard, Asset Control facilitates the consolidation of vendor data with corporate actions data delivered by custodian banks over the SWIFT communications network. The SWIFT network supports the ISO 15022 format for corporate actions messaging.