According to SunGard, the platform is a managed service for generating pricing and reference data that will be used by Banc of America Securities (BAS) to assist in the collection, cleansing, formatting, enrichment, storage, management, support and distribution of data to its downstream trading, order management, risk management and back-office processing systems.
We anticipate referencePoint Managed Data Service will help to accelerate our time to market at a lower cost, and will help to provide ongoing efficiency and scalability as more financial institutions adopt the referencePoint service, said Roseann Palmieri, managing director, data management for BASecurities. 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.
The agreement follows SunGard’s October 2004 announcement of BAS’ charter membership on the referencePoint advisory panel, which SunGard said it established to help drive the development of the managed data service.
