Banc of America Securities (BAS) has selected SunGard's referencePoint Managed Data Service, for generating standardised reference data across the business.
BAS will use the managed service to facilitate the collection, cleansing, formatting, enrichment, storage, management, support, and distribution of data to a variety of its downstream trading, order management, risk management, and back-office processing systems.
The agreement follows SunGard’s October 2004 announcement of Banc of America Securities’ charter membership on the referencePoint advisory panel, which the vendor established to help drive the development of the managed data service.
Roseann Palmieri, managing director, data management for Banc of America Securities, says she expects the service will help accelerate time to market at lower costs: "ReferencePoint will help us integrate data into our existing data management platform, delivering information to the front, middle and back office, including mark-to-market information and corporate actions updates."