Press Releases

Standard Chartered Goes Live with Risk Data Management for 47 Countries on AC PriceMaster from Asset Control

London, May 2, 2005

Asset Control, a leading provider of centralized data management solutions to the financial industry, today announced that Standard Chartered Bank, one of the world’s most international banks, has gone live with AC PriceMaster, the Asset Control solution for market risk data.  From four main offices in London, New York, Singapore and Mumbai, the system manages market data and supports risk analysis for 47 countries in North America, Europe, Asia and Africa. The implementation was completed in six months.

“The rollout of the old system to the Asset Control system went smoothly and the users are satisfied,” said Rajesh Bhatia, Group Head of Market Risk at Standard Chartered. “We now have centralized oversight of global data for advanced risk control, timely research and disciplined pricing.” 

The AC PriceMaster system is used to generate risk factors and curves, as well as standardizing and consolidating market data. The data is sourced from multiple vendor feeds and internal price assessments for a range of derivatives, bonds, and foreign exchange instruments. In addition to supporting a global user base, the system supports eight core banking systems. 

“We’re pleased at the speed and accuracy with which we were able to implement a comprehensive global solution for market risk management,” said Ger Rosenkamp, CEO of Asset Control.  “Standard Chartered Bank is a valued relationship for us.”

A configuration of modules from the AC Plus modular framework, AC PriceMaster is used to manage and factor price data for risk management, trading support, portfolio analytics, market conformity and net asset valuation. Beyond the time-series server and associated features, it includes a selection of vendor feed interfaces, analytical tools, advanced workflow, formula engine and AC Contour for curve generation and visualization. Like all AC Plus modular solutions, AC PriceMaster is extensible to additional data categories, including instrument reference data, counterparty and credit risk data, and corporate actions.

About Standard Chartered
Standard Chartered employs 30,000 people in over 500 locations in more than 47 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas. It is one of the world's most international banks, with a staff of 80 nationalities.

Standard Chartered is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong and is in the top 25 FTSE-100 companies, by market capitalization.

It serves both Consumer and Wholesale Banking customers. Consumer Banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small to medium sized enterprises.
Wholesale Banking provides corporate and institutional clients with services in trade finance, cash management, lending, securities services, foreign exchange, debt capital markets and corporate finance.

About Asset Control
Asset Control offers centralized data management to financial industry firms through a full range of in-house and outsourced options.  A choice of developer tools, turnkey software solutions and outsourced services enable users to optimize their investment data for efficiency, cost control, reduced operational risk and increased value from their data. 

Derived from the robust and reliable AC Plus modular framework, the Asset Control product set includes data solutions addressing market risk, counterparty credit risk, security master, research and corporate actions, as well as global data networking and administration. Handling data from vendors and in-house systems, these solutions collect, validate, normalize, and consolidate data into cleansed composite “golden copy” sets for business use.

Customers include the LCH.Clearnet, Abbey National, ABN AMRO, Barclays Capital, Bayerische Landesbank , BBVA, Commerzbank, IBM (Dresdner Bank), Harvard Management Company, HSH Nordbank, HypoVereinsbank, Grupo Santander, ING, Robeco Groep, Société Générale, Standard Bank, Standard Chartered and Union Investment, as well as a super-major global energy group. Established in 1991, Asset Control is a privately held firm with operations in London, New York and the Netherlands.  For more information please visit www.asset-control.com.