February 23, 2021: RIMES, the global leader in Managed Data Services and RegTech solutions for financial institutions, today announces the availability of its new RIMES Technologies Index Identifier (RTID). The new service, developed in line with customer requests for a simplified process for gaining insight into benchmarks and indexes, addresses issues associated with identifying and tracking the huge variety of identifiers used by index providers and by the information platforms used in the front office, such as Bloomberg Tickers and Reuters’ RICs.
How it works:
- RIMES’ RTID, part of the RIMES Benchmark Data Service® (BDS®), is a managed index identifier service for asset management firms.
- RIMES takes on the task of tracking the benchmarks used across a firm’s operations and tying them back to a unique identifier.
- The service enables firms to easily track index codes to stay on top of their benchmarks’ universe.
- RIMES’ RTID is available through RIMES Online, the RIMES Desktop application, and as an enrichment service for RIMES BDS data feeds, allowing firms to leverage the service in whichever way best suits their needs.
- With RIMES’ RTID, firms gain complete visibility of their benchmarks’ universe and usage, allowing them to ensure compliance with licensing terms while providing the information they need to manage costs and drive more efficient use of their data.
Benefits of RTID:
- Complete visibility across all indices
- Consistency of data usage across trading operations
- Enrichment of identifiers from Bloomberg Tickers, Reuters’ RICs and other “street” systems (subject to appropriate licensing)
- Compliance with benchmarks regulations
- Improved data governance
- Enhanced decision making around data strategy.
Steve O’Brien, Global Head of Sales Engineering at RIMES comments:
“The ability to identify and track the use of indices and benchmarks is essential for investment management firms. It drives good governance, enables billing and cost management and helps ensure compliance with the EU & UK Benchmarks Regulation. However, data management teams can struggle to map benchmarks usage across their various investment operations due to the huge amounts of data and inflexible Enterprise Data Management tools or complex workaround systems. RTID removes the time consuming task of managing benchmarks identifiers without firms having to invest in new, in-house technology.
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