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RIMES enhances reference data management for buy-side firms

Financial data management specialist RIMES has enhanced its managed data services to offer buy-side firms an immediate solution to the ongoing challenges of managing a growing volume of reference and security master data.

Reference and security master data form the foundations of a successful investment management business. But designing, building and maintaining a global repository of accurate and reliable data is costly and time consuming.
RIMES Reference Data Service offers a cost-effective alternative to an in-house operation and aligns costs with business needs. Clients are freed from the burden of managing a growing volume of reference data and benefit from improved sourcing, business and cost efficiencies, data management and storage.
The service is designed to complement RIMES' existing managed services for benchmark and index data.
Steve Cheng, head of data management solutions at RIMES, says: “Designing, building and managing a global repository of dynamic reference data is a major challenge for investment managers, requiring sustained effort and frequent investment. Every firm has unique requirements and most acquire reference data from disparate sources, which must be validated, stored and distributed before use in business processes.
“RIMES Reference Data Service is a bespoke, fully managed data service – each client specifies its own data requirements then we do the rest. As part of the service, we conduct extensive data identifier and classifications cross referencing to vendor and client codes. All data is delivered in fit-for-purpose, system-ready feeds and can be used immediately in business applications without any further processing by the firm.”

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