In recent years, one name has stood head and shoulders above all others when it comes to enterprise data management (EDM): Markit. But as someone from a large and well-established US third-party technology provider remarked at last year’s Buy-Side Technology (BST) Awards, each time his firm wins their “special” category—the one that it has dominated over the years—it gets one year closer to ultimately losing it. And while that scenario has yet to happen to the firm in question, it has finally transpired for Markit, which passes over the crown as the best EDM provider to its long-standing rival, Eagle Investment Systems. To be fair, Eagle has been consistently there or thereabouts in the BST Awards and the Waters Rankings for the best part of decade, and, although it has won a number of prestigious categories in the past, including the best overall technology provider in the 2013 BST Awards, this is the first time it has managed to scoop the sought-after EDM category in any awards program.
Needless to say, this win, decided exclusively by Waters’ readers, will make the folks in Wellesley, Mass. very happy indeed, including erstwhile president and CEO, Mal Cullen; John Lehner, the firm’s former CEO and now president and CEO of BNY Mellon Technology Solutions; and John Legrand, the Bank of New York Mellon’s head of business development, asset servicing for the Asia-Pacific region and formerly Eagle’s managing director and general manager for EMEA and Asia-Pacific. Yes, this win has been a long time coming and will mean a lot to Eagle.
The reason why the EDM category is so sought after at Waters’ three vendor-focused awards—the Buy-Side Technology Awards, the Sell-Side Technology Awards, and the Waters Rankings—is because of the pivotal role it plays in feeding clean, reliable and timely data to large numbers of downstream applications, including performance measurement and attribution, portfolio management and decision support, investment accounting, risk management, and client reporting. That, and the fact that pretty much every capital markets firm has faced or will face a data management crisis at some point in its life, given the extent to which financial services firms are now reliant on data to support pretty much every aspect of their day-to-day operations. And, if ever there was a technology provider that has the capacity to capitalize on the quality of its EDM services, it is Eagle, with its well-established portfolio management, investment accounting, and performance measurement services.
Other technology vendors that featured prominently in this category include Thomson Reuters, Bloomberg PolarLake and FactSet for its FactSet Entity Data Management offering.
If ever there was a technology provider that has the capacity to capitalize on the quality of its EDM services, it is Eagle, with its well-established portfolio management, investment accounting, and performance measurement services.
James talks about his trip to Chicago and some of the interesting topics that came up (including a look at disaster recovery demands). Then Anthony and James touch on ISDA's initial margin rules, with Phase 3 going live next year.Subscribe to Weekly Wrap emails