Acadian Asset Management has adopted Markit's enterprise data management (EDM) services as part of an upgrade to its core back-, middle- and front-office IT infrastructure.
Acadian, which has $69 billion in asset under management, intends to use Markit EDM for security by mid-2016. It also plans to implement the service for its pricing, accounts, holdings and corporate actions data.
Markit EDM is also intended to help Acadian with implementation of new portfolio accounting, order management and data management platforms.
Peter Noll, chief technology officer at Acadian, said: “Markit EDM’s ability to handle our unique requirements using out-of-the-box functionality was pivotal in our decision and means we will be able to implement it effectively and quickly for multiple use cases.”
Spiros Giannaros, managing director of Markit EDM, commented: “Acadian’s IT transformation is an enterprise-wide initiative and rapid rollout is essential to its success. By opting for a managed services EDM deployment, Acadian can take advantage of a quick and proven implementation methodology.”
He added: “We have noticed a definitive trend towards managed services in data management and it looks set to gather pace throughout 2016.”
