RIMES Technologies, the leading provider of benchmark data management solutions, has won the “Best Enterprise Data Management Initiative” category at the Inside Market Data and Inside Reference Data Awards 2010, confirming it has one of the most innovative and sophisticated solutions in the financial services industry.
The award recognised the company’s ability to help its clients create and implement enterprise-wide data management strategies to improve data quality and standardisation, and reduce operational risk associated with poorly managed reference data. This is the fourth consecutive year in which RIMES has taken home a prestigious industry award; the company won the ‘Best Data Supplier to the Buy Side’ category at the Buy Side Technology Awards in 2007, 2008 and 2009.
RIMES secured the award in recognition of an exceptional project in which it successfully consolidated the provision and management of data for one of the world’s largest asset management firms, to enhance accuracy and timeliness, avoid duplication and generate cost efficiencies. The project’s requirements were:
- Co-ordinating multiple data sources to meet the needs of compliance, performance and risk departments;
- Handling multiple data types, including standard indices and combined benchmarks from multiple underlying indices;
- Achieving harmonisation in the delivery of multiple asset classes, including equities, fixed income and alternative instruments;
- Combining different analytics requirements from multiple vendor systems;
- Providing seamless integration with the front, middle and back office departments across multiple locations in North America, Europe and Asia Pacific.
Christian Fauvelais, CEO of RIMES, said: “This award recognises the high calibre of our technology and our team. For over a decade RIMES has helped its clients to streamline their middle and back office data operations by remaining focused on developing innovative solutions. Our fully managed service offers the widest range of data, validated according to our clients’ specific requirements and customised to feed a variety of in-house or third-party systems.”
The judging panel included representatives from HSBC, JP Morgan, Morgan Stanley, UBS, Wells Fargo, Aite Group, EDM Council, FISD and Ventura Management Associates.