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Asset Control International

Asset Control Integrates Markit Data into AC CompanyMaster to Enhance its Credit Data Solution

London (ots/PRNewswire)

Asset Control, a leading provider of
investment data management solutions to the financial industry, today
announced that credit prices and counterparty reference data from
Markit have now been integrated into AC CompanyMaster. This
industry-leading data enhances the immediate utility of AC
CompanyMaster as a highly efficient means of managing credit data for
Basel II credit risk compliance and counterparty credit risk
management.
The integration of Markit data into AC CompanyMaster is being
implemented at various customer sites internationally.
"The cost of managing credit risk for maximum profitability, as
well as complying with Basel II credit risk reporting requirements,
can be significantly lowered by automation that gathers and maintains
the credit data, while minimizing human intervention. By integrating
Markit data into AC CompanyMaster, we now offer the quickest possible
implementation of a robust credit data management platform," said Ken
Payne, director of sales and marketing at Asset Control. "Our
customers requested integration of Markit data to support their
credit data management, and we are pleased with the collaborative
spirit at Markit that brought this work to a rapid conclusion."
The data feeds are Markit RED and Markit Data. Markit RED is a
unique global reference utility, which confirms long legal names on
over 2,000 reference entities and the legal relationship between a
reference obligation and its guarantor or issuer. Markit Data
delivers daily composite mark-to-market prices and spreads gathered
from over 40 contributing organizations for investment- and
subinvestment-grade credit default swaps, cash securities and
syndicated loans used by organizations globally within trading, risk
management and product control roles.
"The rapid expansion of the credit markets requires quality data
solutions, partnered with sophisticated data management platforms,
and we are delighted to be working with Asset Control and our mutual
customers to meet this need. The need to reduce settlement overheads
in the trade process as well as customers' risk needs are significant
drivers for adoption of Markit's Reference Entity Database (RED) and
the underlying platforms to manage this data," said Mark Hunt,
director of product development at Markit.
AC CompanyMaster
AC CompanyMaster gathers, verifies, and consolidates company data.
In addition, it provides user access and manipulation of a full range
of credit-related data, including issuer reference data, legal entity
hierarchies, credit pricing data and credit ratings, both
vendor-supplied and proprietary. A configuration of the modular AC
Plus data management framework, AC CompanyMaster can easily be
extended to other data types - such as instrument, pricing and
corporate actions data - and scales easily from a departmental to
enterprise solutions. For more information about AC CompanyMaster or
to schedule a visit to a customer site where it is in production,
please contact  info@asset-control.com.
About Asset Control
Asset Control offers centralized data management to financial
industry firms through a full range of in-house and outsourced
options. A choice of developer tools, turnkey software solutions and
outsourced services enable users to optimize their investment data
for efficiency, cost control, reduced operational risk and increased
value from their data.
Derived from the robust and reliable AC Plus modular framework,
the Asset Control product set includes data solutions addressing
market risk, counterparty credit risk, security master, research and
corporate actions, as well as global data networking and
administration. Handling data from vendors and in-house systems,
these solutions collect, validate, normalize, and consolidate data
into cleansed composite "golden copy" sets for business use.
Customers include the LCH.Clearnet, Abbey National, ABN AMRO,
Barclays Capital, Bayerische Landesbank , BBVA, Commerzbank, IBM
(Dresdner Bank), Harvard Management Company, HSH Nordbank,
HypoVereinsbank, Grupo Santander, ING, Robeco Groep, Societe
Generale, Standard Bank, Standard Chartered and Union Investment, as
well as a super-major global energy group. Established in 1991, Asset
Control is a privately held firm with operations in London, New York
and the Netherlands. For more information please visit
http://www.asset-control.com.
About Markit
Markit is the leading industry source for asset valuation data and
services supporting independent price verification and risk
management in global financial and energy markets. Founded in 2001,
the company is an independent enterprise with which the world's
leading financial institutions and energy traders work strategically
to create price transparency.
Today, Markit enjoys the sponsorship of 13 financial institutions
that manage assets in excess of US$10 trillion, as well as data
contribution relationships with over 45 dealing firms. Markit has
designed, launched and acquired over 20 financial data services which
are now used by over 300 institutions globally. Areas of product
expertise and service include an independent valuation perspective on
credit default swaps, syndicated loans and OTC derivatives (credit,
equity, FX, rates, energy, power, metals and structured products), as
well as dividend forecasting and index and ETF management. For more
information, please visit http://www.markit.com.
Contact:
     Kathleen Hawk
     Communications, Asset Control
     +1-845-687-2222
      khawk@asset-control.com
Web site: http://www.asset-control.com

Contact:

Kathleen Hawk, Communications, Asset Control, +1-845-687-2222,
khawk@asset-control.com; or Mark Hunt, Director, Product Development
of Markit, +44-1727-734-226, mark.hunt@markit.com