Citadel wins Buy-Side Technology award

London - 5 November 2007

Citadel, the provider of Enterprise Data Management (EDM) systems for the buy-side, today announced that it has won Buy-Side Technology’s ‘best data management product’ for its CADIS suite. Through a combination of standardised interfaces and flexibility, CADIS enables firms to address the stresses on data infrastructures, significantly reducing implementation times and the associated risk.

While the buy side’s technology demands become ever more sophisticated, increasingly disparate data sources are resulting in impenetrable and sluggish data systems, which ultimately deplete the efficient running of the business. Citadel is one of the few true EDM providers and the only EDM player in the market that continues to focus purely on the needs of the buy-side.

Peter Little, CEO, Citadel, says: “EDM has become the accepted route for the effective management of data and the buy-side in particular has experienced significant growth as it consumes enormous amounts of information. In addition to the traditional challenges, such as managing multiple systems, the buy-side must have the technology to support complex and alternative instruments as well as address an increasingly regulated market.”

Buy-Side Technology is the only stand alone publication that focuses on business and technology issues facing buy-side executives. These are the first annual Buy-Side Technology awards and are open to any technology provider operating in the buy-side space. The awards recognise the leading technologies and vendors in their areas of expertise, showcasing top class performance and innovation.

Citadel’s technology delivers a highly efficient and fully audited environment for the management, processing, cleansing and enrichment of corporate data. The CADIS platform unites legacy systems and empowers the business user, allowing them to overcome the challenge of disparate data sources. Implementing a new OMS, compliance, performance or risk system places significant stresses on the data infrastructure of an organisation. Through a combination of standardised interfaces and a flexible schema, CADIS enables firms to address these data issues, significantly reducing implementation times and the associated risk. With Citadel’s open architecture, firms can continue to pick the best fit solutions, outsource their IT and confidently enter new markets such as derivatives and hedge funds.

Peter Little, CEO, Citadel, says: “For many firms, EDM is a difficult and sometimes unobtainable goal to achieve. Using our strong consultancy background, we launched CADIS in 2002 to provide buy-side firms with a realistic solution, enabling them to tackle the problem at a divisional level and create a single enterprise view for the business user. That Buy-Side Technology has recognised our offering is a significant endorsement of our capabilities and our continued commitment in this area.”

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