Markit, a financial information services company, has rolled out Markit Enterprise Data Management (EDM) to MacKay Shields, a US-based investment firm with approximately $78 billion in assets under management.
Markit EDM aims to enable a streamlined, automated workflow, supporting operations across the front and back office. It will allow MacKay Shields to manage the way data is collected and distributed throughout its investment management systems.
“Regardless of the size or scope of an institution, accurately managing data is key to reducing risk across the entire organisation,” said Daniel Simpson, managing director and head of Markit EDM. “We’ve seen data management initiatives become more prevalent in the front office in recent years, especially within buy-side firms. These organisations are focusing their efforts on front office data demands for actionable, reliable and up-to-date information to support pre-trade compliance and trading decisions.”
David Bates, principal at Citisoft, which advised on the transaction said: “Markit EDM provides a central hub for the management of complex data sets in an efficient and controlled manner in support of MacKay Shields’ world class investment capabilities. Markit EDM’s flexible platform further enhances MacKay Shields’ infrastructure and investment services capabilities supporting its tailored income-oriented investment solutions.”
