RSU Rating Service Unit GmbH and Company (RSU) has chosen GoldenSource to provide its market data solutions.
RSU, a provider of IT services for the Landesbanken in Germany, selected GoldenSource to provide platform infrastructure, enabling them to access market data from multiple data suppliers and provide individual data feeds to many banks.
The move comes as regulations such as the Basel Committee on Banking Supervision's standard number 239 and the Fundamental Review of the Trading Book continue to drive the industry towards standardising their data on a single platform.
GoldenSource has also recently partnered with another German/Italian banking group based in Munich.
Dana Wengrzik, managing director at RSU, said: “Alongside GoldenSource’s obvious technical capabilities, we were particularly impressed by their willingness to work alongside us as a long-term partner for our central market data service.”
She added: “The requirements of our business services are complex and we need a provider who can help us with operational efficiency while providing expertise on areas such as regulation and best practices. GoldenSource have not only demonstrated the strength of their capabilities, but also a willingness to help us grow the service as part of our long term business strategy.”
Charlie Browne, head of market data and risk solutions at GoldenSource, commented: “With European regulations becoming more data-driven, it is essential that RSU has a solution that supports their business and compliance needs.”
He added: “We have the expertise to provide RSU with the best data foundation for managing and cleansing the growing volumes of market data required by the industry in this increasingly onerous regulatory environment.”
