Press Releases

Citadel Selects Asset Control to Co-develop a Highly Scalable Platform for Centralized Management of Security Master, Pricing an

New York, NY (SIA Technology Management Conference), June 8, 2004

AC Plus as Core Technology Offers Rapid Time-to-Market in Modeling New Instruments, Comprehensive Cleansing and Data Manipulation Functions.

 Asset Control, a leading provider of investment data management solutions to the financial industry, today announced that Citadel Investment Group, L.L.C., a global leader in alternative investments, has selected Asset Control’s AC Plus software to centralize management of securities data. The Citadel implementation will consolidate management of high volumes of time-series price data, reference data and corporate actions data to serve diverse applications and users.

“We trade in a wide range of markets and  the Asset Control Platform will allow us to support  trading, research and operational activities across these markets for a diverse range of internal users more effectively,” said David Hirschfeld, Managing Director, IT at Citadel. “The Asset Control product suite offers us a comprehensive solution with a minimal amount of implementation. We evaluated a number of other potential solutions in this space and found that the AC product was the most complete in terms of front to back solutions: vendor feed sourcing, arbitration/work flow engines, user-friendly client interface, and open architecture. “

This announcement follows an exhaustive testing phase to evaluate the capabilities of the Asset Control platform to serve the immediate data management requirements of Citadel and to serve as the foundation for ongoing development of the data management platform. Citadel has agreed to work with Asset Control on further enhancements to the Asset Control product suite. These innovations will be incorporated into future releases to the commercially available AC Plus solutions.

“In planning a strategic data management platform, the most important factor for any buyer is the need for confidence in the core technology. We are pleased that Citadel has that confidence in Asset Control, and that it derived from their comprehensive research and evaluation effort to discover the best solution on the market,” said Ger Rosenkamp. “Citadel is noted throughout the industry as a firm that is fully committed to excellence, and we look forward to providing the data management environment that supports their goals.”

About Citadel Investment Group, L.L.C.
Citadel is a global leader in alternative investments. Citadel has a global presence with offices in Chicago, London, Tokyo, San Francisco and New York.  Clients include money center banks, insurance companies, corporate pension plans, endowments, foundations, and families of wealth.

About Asset Control
Asset Control provides the financial industry with software and outsourced solutions for improved efficiency and cost control of investment data management, as well as adding more business value to the data.  Quick-to-implement solutions, based on the robust and reliable AC Plus modular framework, range from technical solutions such as AC SmartFeed, and AC Business Suite solutions for risk and research, to infrastructure solutions for STP, global data networking and enterprise data control.
 
Data coverage includes reference (security master), corporate actions, issuer, counterparty and settlement, historic and real-time market data. Managing data from vendors and in-house systems, Asset Control’s broad functionality includes collection, validation, normalizing, and consolidation into a cleansed composite “golden copy” set aligned to industry standards such as ISO 15022.
 
Customers include the London Clearing House (LCH), Abbey National, ABN AMRO, Barclays Capital, Bayerische Landesbank , BBVA, Commerzbank, Dresdner Bank, Harvard Management Company, HSH Nordbank, HypoVereinsbank, ING, Robeco Groep, Santander Central Hispano, Société Générale, State Street 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.