Lloyds TSB has begun installing software from Asset Control to support its growing product range.
The banking group’s corporate markets division provides dedicated financial services to businesses ranging from small start-ups to global corporations.
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David Wright, deputy head of the financial markets middle office, said, “Asset Control provides the cleansed and consolidated pricing data that we need to support a wider range of products.
“It gives us scalability, so that as the business creates more complex products, it is relatively easy for us to provide traders and risk managers with the data that they need. It also enables us to make the risk management process more efficient.”
Centralised data management firm Asset Control’s AC Plus software will be used to provide pricing information to support the division’s expanding range of financial products.
It will consolidate internal and external price feeds and support a direct Reuters data feed for pricing and “shredding” – reconstructing pages of data from digital information.
The package replaces the bank’s custom-built, spreadsheet-based applications and will initially be used to handle end-of-day pricing. It is expected that the technology will later be used to consolidate and manage the wide range of reference data needed to support the bank's debt capital markets expansion.
The project is expected to go live before the end of the year.
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