Standard & Poor's has teamed up with Soliton Inc. to manage the acquisition and integration of its securities and reference data for financial clients.
The agreement allows Standard & Poor's clients to use Soliton's TimeSquare data platform to manage reference data and securities data more effectively and reduce the risk and cost of manual processing and internal programming resources.
"By offering our clients a cost-effective solution to integrate and manage our data, our customers will be able to take full advantage of the breadth and quality of our securities data coverage", says Frank Ciccotto, Senior Vice President, Standard & Poor's Securities Evaluations. "Coupled with Soliton's data management service TimeSquare, our clients can reduce the cost and effort to manage the myriad of our data, while establishing consistency in the provisioning of internal data resources."
Soliton's TimeSquare reference data management platform helps financial firms control costs by automating the acquisition, normalisation and management of reference data, end-to-end, throughout the enterprise. The relationship with Standard & Poor's will enable both firms to reach out to mutual customers and prospects by offering high-quality financial data and data management solutions for automatic integration.
"This partnership enables us to give our customers easy access to even more market data vendors as well as extend our data models to include Standard & Poor's pricing and reference data", says Nazir Noormohamed, President & CEO, Soliton Inc. "We are very excited about our partnership."
Background notes: Securities evaluations services are provided by Standard & Poor's Securities Evaluations, Inc, a wholly owned subsidiary of The McGraw-Hill Companies.
Soliton Inc is an industry leader and innovator focused on transforming how financial institutions acquire and manage investment data from multiple sources. The company's flagship software, TimeSquare, allows financial institutions to centralize the acquisition of global investment data and make timely, accurate and consistent data available across the enterprise. With TimeSquare, financial institutions can improve the consistency and quality of their investment data and minimize the significant risk and cost of failed trades. Founded in 1993, Soliton is a privately held company with headquarters in Toronto.
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