The Market Group - Sapient Global Markets Appointed to Construct the European DataWarehouse

London - 1 November 2011

The Market Group is pleased to announce today that Sapient Global Markets has been appointed as the constructor of the European DataWarehouse (ED). ED will be the first European central data repository owned and operated by the market for the market, with the unique feature of being endorsed by the Eurosystem. Once constructed, ED will process, verify and transmit data for the benefit of originators, investors, data providers and other interested parties. It is intended that ED will be launched and fully operational by the end of summer next year.

The appointment of Sapient Global Markets follows a comprehensive selection process that started in April with the Market Group's issuance of a Request for Information (RfI) in response to which more than 50 organisations from around the world expressed an interest in participating. After a comprehensive and diligent review process, the top six firms and consortia who responded to the RfI were invited to participate in a more detailed Request for Proposals (RfP) process at the end of May, following which Sapient Global Markets was selected as the best candidate to be ED's constructor.

Paul Burdell, secretary of the Market Group, said:

"We are very pleased to have selected Sapient Global Markets to build ED and are looking forward to working with them on this important and innovative project. Sapient Global Markets have demonstrated that they have the range of capabilities, from design to implementation, and experience required to be ED's constructor. They have a proven track record of creating database systems capable of managing and distributing large volumes of ABS data."

Fernando Gonzalez, the head of the Risk Strategy Section of the ECB Risk Management Office and Chairman of the ECB ABS Loan-level Initiative added:

"The market led appointment of Sapient Global Markets to construct an independently managed European DataWarehouse to store and verify ABS loan-level data represents a significant step towards the ECB's aim of increasing transparency and disclosure standards in the European ABS markets. ED will ensure that market participants have access to timely and consistent information on the loans underlying ABS transactions and their performance."

Chip Register, head of Sapient Global Markets went on to say:

"ED is part of an important ongoing initiative aimed at restoring investor confidence in the ABS markets through increased disclosure and transparency standards. This prestigious mandate builds on Sapient Global Markets' expertise and experience designing and implementing solutions to address the complexities associated with structured finance portfolios. We are delighted to have been appointed as ED's constructor following a competitive tender process."

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