Press Releases

Payment and Settlement Instructions from CB.Net

New York, NY, November 29, 2004

Asset Control, a leading provider of investment data management solutions to the financial industry, today announced that CB.Net’s BankSearchPlus, the definitive international payments directory, will be integrated into the AC Plus data management solutions. CB.Net provides over 70,000 standing settlement instructions (SSIs) linked to 8,500 BICs and national bank sort codes for over 60 countries, providing support STP, back-office processing, settlements and credit risk management. 

“Our alliance with CB.Net expands the capability of AC Plus to support the full range of data required for transaction processing and settlement for straight-through processing and counterparty management,” said Ken Payne, director of sales and marketing at Asset Control. “Our customers have expressed strong interest in this data, and we are delighted to provide full integration of SSIs into our centralized data management system.”

“By providing instant integration of BankSearchPlus into AC Plus solutions, Asset Control enables us to reach more customers with this essential tool for eliminating cost and risk from the settlement cycle,” said Ian Dunning, managing director at CB.Net. “We are already building a shared customer list and look forward to working together with Asset Control.”

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 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.

About CB.Net
CB.Net provides reference data solutions to the global banking community.  CB.Net’s flagship product, BankSearchPlus™, is the definitive international payments directory, delivering critical operational data in one source – both as a web based query tool and as a data feed – directly into back office systems.  Established in June 2000 by a group of bankers and IT professionals, London-based CB.Net serves financial services firms in over 30 countries.

For more information visit www.cbnet.info or email info@cbnet.info.