LloydsTSB Corporate Markets is implementing Asset Control's flagship data management technology, AC Plus, at its financial markets division.
The vendor says its AC Plus system will be implemented as part of a phased project and will be used to support expanded daily trading activity as well as manage risk and meet regulatory requirements.
David Wright, deputy head, financial markets middle office, LloydsTSB Corporate Markets, says: "Asset Control provides the cleansed and consolidated pricing data that we need to support a wider range of products. It gives us scalability, so that as the business creates more complex products, it is relatively easy for us to provide traders and risk managers with the data that they need. It also enables us to make the risk management process more efficient."
The Asset Control system replaces custom-built, spreadsheet-based applications. The technology will initially be used to handle the end-of-day pricing process, delivering prices to the trading engine and supplying data to the market and credit risk functions.
The vendor says the system was chosen for its ability to consolidate internal and external price feeds and support a direct Reuters data feed for pricing and "shredding" – the ability to capture information in digital form, then reconstruct pages of data.
The system is expected to go live before the end of the year.
Asset Control says he technology may also be used to consolidate and manage the wide range of reference data necessary to support the bank's debt capital markets expansion.