New York-headquartered MacKay Shields, an investment manager with approximately $78 billion in assets under management, has selected Markit EDM for its data management requirements.
The implementation was conducted in partnership with consultancy Citisoft. Markit EDM allows for an automated workflow from the front to the back office, allowing for an efficient collection and distribution mechanism for data in areas such as investment management systems. The product, formerly known as Cadis, was acquired by Markit last year.
"Regardless of the size or scope of an institution, accurately managing data is key to reducing risk across the entire organization," says Daniel Simpson, managing director and head of Markit EDM. "We've seen data management initiatives become more prevalent in the front office in recent years, especially within buy-side firms. These organizations are focusing their efforts on front-office data demands for actionable, reliable and up-to-date information to support pre-trade compliance and trading decisions."
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