Prior to the successful migration of Pictet's core banking system, Interactive Data provided its bond evaluations service via a third party. Pictet now uses the Avaloq Banking System in conjunction with GAIN Data Management from AIM Software, with whom Interactive Data (Europe) Ltd has a long-standing relationship. This new platform enables Pictet to access more up-to-date and much wider coverage of bond evaluations, which are delivered via FTSSM, Interactive Data's securities administration service.
Michel Mermoux, head of Market Data, Pictet & Cie, commented: "The integration of the bond evaluations service into GAIN Data Management gives us direct access to a large universe of bond evaluations from Interactive Data. We currently subscribe to over 3,000 bond evaluations on a daily basis, primarily mortgage-backed securities, but also municipal bonds and other fixed income securities."
Brendan Beith, sales director, Interactive Data (Europe), added: "We are pleased that we are now able to supply our daily bond evaluations directly into Pictet's multi-feed solution, and by doing so help to achieve more efficient data management. This direct feed allows Pictet to benefit from our wide range of fixed income evaluations and will also enable Pictet to subscribe to our evaluations of other asset types."
Interactive Data, through its Pricing and Reference Data business, is a leading independent provider of daily evaluations for fixed income securities. With over 30 years of experience, Interactive Data's teams of evaluators operating in three major time zones evaluate approximately 2.5 million fixed income issues every day. Over 5,000 financial institutions worldwide, ranging from central banks to large investment banks, subscribe to Interactive Data's bond evaluations.