F&C Investments live with Cadis EDM Suite
F&C Investments resulted from the 2004 merger of F&C Management Holdings and ISIS Asset Management, which left the company with two separate trading platforms: Linedata Services' LongView Trading System and DST International's HiInvest.
Rather than choosing one of those systems, F&C decided to replace both with a new product and also secured executive buy-in for a data management platform.
The Cadis EDM Suite is a product of Cadis Software, formerly known as Citadel Associates, and will essentially act as a data hub to manage the flow of data between systems.
"When we looked at systems integration after the merger, data quality was a key part of it," explains Peter Collins, information architect at F&C. "If we have a price coming in, we may want it to be used in the front, middle and back offices - the Cadis product will move the data around and also check the quality of that data."
If the product finds data to be inconsistent, it is sent to F&C's data management team to establish which data set was right and which was wrong.
Dual roll-out
The selections of both Charles River and Cadis were made in late 2006 and the simultaneous roll-out took just under a year, with Cadis going live last October and Charles River in November.
According to Collins, the Cadis installation was fairly straightforward as the system has few direct users but is used in the background to monitor data quality. It was a far simpler roll-out than that of the Charles River platform, he says, which was replacing two legacy systems in the front office.
"F&C's simultaneous implementation of the Cadis EDM suite and Charles River has not only enabled it to improve the quality of its data, but by making the transition to a single execution process, it has also minimised processing times, vastly increasing productivity," says Dan Simpson, chief executive of Cadis Software.
The system is currently supporting only F&C's equity fund managers, but will extend to the fixed-income managers in the coming months. >
Joel Clark
Bottom line:
The Cadis EDM Suite will allow F&C Investments to better manage its data quality as the front office migrates onto a single trading platform.Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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