Standard Chartered has licensed Asset Control's recently-launched market data management application, AC PriceMaster, to support its risk management operations in the US, EU, Middle East and Africa.
The bank will use the software to manage multi-sourced data and generate risk factors. The implementation will also eventually be extended to the bank's operations in South East Asia.
The vendor says the off-the-shelf AC PriceMaster product was selected for its ability to standardise traditional and emerging markets data. The system automates all market data management processes, including data gathering and verifying and consolidating and cleansing. The product also creates and maintains risk factors and curves.
Rajesh Bhatia, group head of market risk at Standard Chartered, says: "Our data layer must support not only advanced risk control, but also provide global access and manipulability to support timely research and disciplined pricing."
The first phase of the implementation is projected for completion at the end of the year.