Buy-Side Technology Awards: Best Data Provider to the Buy Side─Rimes Technologies
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Rimes' buy-side strategy is contingent on two key offerings-Rimes Online and Rimes Benchmark Data Services (Rimes BDS). The former is designed to offer buy-side firms' front offices access to more than 500 databases covering all asset classes via a single, cloud-based interface, while the latter allows middle and back offices to outsource their entire index data workflow, improving the quality, speed, and reliability of managing multiple benchmarks for their crucial data management, performance, risk, and compliance functions.
Rimes' products are underpinned by its SmartFiles technology, a custom financial data file service designed to handle over 500 databases from 100 data vendors, feeding buy-side-oriented platforms from household names including Advent; Algorithmics, now IBM Risk Analytics; Asset Control; Barclays Point; BI-SAM; Cadis, now Markit EDM; Charles River Development; Eagle Investment Systems; Fidessa; SimCorp; SS&C; StatPro; SunGard; thinkFolio; and UBS Delta, in addition to large numbers of in-house-developed proprietary systems.
But as large numbers of third-party technology providers have learned over the years─and this is especially true of the buy side─great technology does not guarantee you success. Clearly, this is an area upon which Rimes has chosen to focus. Like all vendors in this market worth their salt, Rimes offers 24/7 support, although it goes a step further by striving to respond to client requests faster than its competitors. It aims to update large data volumes within 20 minutes, files can be enriched with holdings and non-holdings data within 24 hours, and buy-side firms can receive next-day views within their order management systems─examples of why Rimes is so successful in an industry renowned for its competitiveness.
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