RIMES, the leading provider of managed data services for the buy-side, today announced that RIMES Reference Data Service (RIMES RDS) was named “Best New Product” at the Wall Street Letter 2014 Institutional Trading Awards. The awards recognize excellence among providers to the institutional trading industry.
Introduced in 2013, RIMES RDS addresses the complex issues that buy-side firms face in reference and security master data management. It allows for bespoke management of disparate data sources as it collects, remediates, transforms, stores and distributes data directly to business processes, providing an operating platform with virtually unlimited storage potential.
RIMES RDS delivers buy-side users a more efficient and cost-effective alternative to in-house operations. As a core component of RIMES’ industry-leading managed services, it offers a single, ongoing solution to the challenges of building and maintaining a global repository of dynamic reference data.
As a fully managed service that offers a gateway to better reference data management, RIMES RDS delivers:
- Optimized data sourcing, for lower costs;
- Alignment of data acquisition with business needs;
- Incremented business efficiency, with reduced total cost of ownership;
- Storage of growing reference data volumes without incremental technology investment.
Alessandro Ferrari, SVP Global Marketing, RIMES Technologies, comments, “We are honoured to be recognized by Wall Street Letter for RIMES Reference Data Service. Successful investment management begins with reliable reference and security master data. Firms must deal with a whole range of potential obstacles to success and RIMES RDS delivers a permanent solution to these business-critical challenges. Considering the strong demand from the buy-side for managed data services, RIMES will continue to innovate and deliver.”
RIMES received the award yesterday in a ceremony at 583 Park Avenue in New York.