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| Centralized Counterparty Data Recognized by Financial-Services Firms as an Asset to Fuel Business Growth |
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| New York & London, Tuesday, 22 July 2008 | ||
| [Media Release] | ||
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FOR IMMEDIATE RELEASE: With financial risk management a top priority, the need to obtain a complete view of credit exposure by counterparty, is essential. In this environment, the management of counterparty data is reaching its next frontier and is fueling business growth finds a new white paper prepared by A-Team Group for GoldenSource Corporation and CounterpartyLink. GoldenSource Corporation, a leading provider of Enterprise Data Management (EDM) solutions and CounterpartyLink, a global provider of legal entity data, sponsored the production of the white paper in which financial services industry leaders talk about how their firms have progressed over the last 12 months in leveraging counterparty data. A copy of the white paper "Beyond Compliance and Exposure: Counterparty Data Fuels Business Growth" is available for download in our Research section. "With sustained turbulence in global markets, transparent client hierarchical data is now perceived as essential by both buy and sell-side firms. Many now recognize that as well as improving risk management, they can leverage the information to streamline their operations, save money and can exploit more opportunities by targeting the most appropriate counterparties," James Redfern, head of sales and marketing, CounterpartyLink. The report goes on to identify three areas where the industry is looking to use counterparty data as a 'business enabler', including:
"To help address this we offer a unique application, GoldenSource Counterparties, that allows firms to link all of the required information together to provide a total view of an institution's counterparties," explains Sam Weibel, vice president of investment banking solutions at GoldenSource Corporation. "We are working with our customers to allow them to normalize and transform industry classifications into a consistent representation no matter what the source, and to identify the roles and relationships between all accounts and counterparties." * * *
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