South Africa-based Standard Bank is implementing Asset Control's data management system, AC PriceMaster, to support its risk management operations in Johannesburg.
AC PriceMaster manages current and historical price data for risk management, portfolio management and trading support.
The software will be integrated with external data feeds as well as internal systems, and will be used to provide market snapshots, data profiling and the generation of sophisticated risk factors. The implementation will be extended to the bank's London operations in the future.
Carolyn Cameron-Kirksmith, business manager, global markets SA, Standard Bank, says: "The flexibility of the new platform will allow us to gather, monitor and analyse market data across a broad number of asset classes, markets and countries globally."
Asset Control says the deal extends its business into sub-Saharan Africa.
The deal is the latest in a number of significant IT investments made by Standard Bank already this year. The bank said last week that it was installing SeeBeyond's middleware platform, Ican 5, to integrate applications globally across its investment banking division.
The bank has also signed up to SunGard's hosted Adaptiv Credit Risk service which it is using to manage credit risk management processes at its wholesale corporate and investment banking divisions, and is installing the vendor's intelliMatch software to manage matching and reconciliations processes across the enterprise.