US bank Wachovia is implementing Asset Control's data management technology, AC Plus, at its corporate investment banking division.
The software will be used to manage price data used to support risk management operations at the division. The system will gather and manage snapshot, end-of-day and time-series pricing information for interest rates, credit spreads, equities, FX and commodities.
Asset Control says its technology was evaluated in proof-of-concept testing and will be delivered in a turnkey implementation, including feed handlers for multiple data vendors.
Barry Fenwick, divisional information officer of Wachovia's corporate investment bank, says: "The new platform will allow us to leverage our comprehensive market history and provide additional analytical services to our clients."
The system is scheduled to be in production in the first quarter of 2005.