The Banker, a Financial Times Business publication, conducted the awards program to recognize innovation, achievement and success in technical applications and services for investment, wholesale and retail banking. Judging was conducted by a panel of leading authorities in financial technology, including global bank IT executives and financial technology and capital markets editors. For this yearâs awards, there were approximately 500 entries across 27 categories.
Cicadaâs solution for reference data management offers a unique combination of technology and outsourcing services not delivered by any other organization. For clients wanting to conduct data management functions in-house, such as data acquisition, validation, intervention and distribution, Cicada provides a software solution based on its proven Composer plus+ platform. For clients looking to leverage the efficiencies of an outsourced solution for reference data management, Cicada provides a range of managed services including manual intervention and exception-handling, corporate hierarchy building and maintenance, and the creation and maintenance of unique identifiers and linkages between securities, issuers and counterparties.
Awards officials stated: "For the second year running The Banker has rewarded vendors and solution providers for their innovation over the past 12 months. The Technology Awards 2004 represents the toughest competition of its kind with judges drawn from the highest level at international banks and financial services. Our congratulations go to all the winners and those who have been highly commended in the 2004 process and hope that they will continue to raise standards throughout the industry." In the Reference Data category, the judges were impressed by Cicadaâs combined use of innovative technology and managed services.
Hubert Holmes, Cicadaâs Executive Vice President, said: "We are truly honored to receive this recognition from such a highly-regarded publication and panel of judges for our technology and approach to managing reference data and its quality. Through our technology and suite of services, Cicada is able to offer an unsurpassed depth of solution, flexibility and range of options, from software licensing to business process outsourcing. We are able to easily configure the level and type of solution to meet each clientâs unique requirements."