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Tom Stock, GoldenSource

GoldenSource and McObject launch RegTech EDM solution


McObject and GoldenSource have teamed up to deliver deliver what they say is the fastest available Enterprise Data Management (EDM) designed for regulatory compliance, using McObject’s database technology, eXtremeDB, in the GoldenSource Market Data Solution.

GoldenSource is an independent provider of Enterprise Data Management (EDM) and Master Data Management (MDM) solutions for the securities and investment management industry, while McObject is the developer of eXtremeDB, a database system for real-time and historical data analysis. The global launch today of McObject’s low latency eXtremeDB integration with GoldenSource Market Data Solution represents a leap in both performance and capability for the RegTech sector.
 
GoldenSource has a 30-year record of providing data management technology to critical areas in financial institutions, and this collaboration represents a major technology advance for the increasingly-important compliance sector. Banks are under growing pressure from regulators to meet FRTB and MiFID II requirements, among others, and many are finding that their legacy infrastructure is simply unable to provide the necessary speed, agility and processing power.
 
Tom Stock (pictured), GoldenSource SVP Product Management, says: “Having looked at a number of specialist vendors, we chose eXtremeDB because of its speed and reliability in handling large, complex time- series data sets. Compliance has become one of the most demanding areas in every financial institution, whether it’s implementing MiFID II or getting ready for FRTB. It’s clear that ‘old-tech’ can’t cope and the way forward is to innovate, which is exactly what we’re doing with McObject. Among other things, the ‘Tick Master’ capability provided by eXtremeDB extends our established leadership in the FRTB solutions space.”
 
Charlie Browne, Head of Market Data & Risk Solutions at GoldenSource, adds: “Regulations such as FRTB require market risk departments to analyse over ten times more time-series market data than before, so a huge amount of time-series processing power will be needed to be compliant. In addition to speed and the ability to process large quantities of data, clients also require richer data sets for golden price generation, which is what eXtremeDB will help us do outstandingly well.”
  
Steve Graves, CEO and co-founder of McObject, says: “This is an important collaboration for us: working with a tier-one financial services technology provider is a significant milestone for McObject. GoldenSource is the ‘go-to’ provider of essential data technology in the financial sector and integrating eXtremeDB is a major step forward for future-proofing their clients. I am confident that this partnership will be unbeatable for quality and speed of data access and management.”
 
Ian Hillier-Brook, CEO of MCO Europe, McObject’s Financial Markets partner, says: “This is a major opportunity to showcase eXtremeDB in the high-demand RegTech sector.”

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