Buy-Side Technology Awards 2016: Winners' Circle—RIMES Technologies

RIMES has dominated the best data provider category for a decade. How has your offering been able to stand out?

Alessandro Ferrari, executive vice president of global marketing, RIMES Technologies: Twenty years ago, we pioneered cloud-based technology, developing new systems to deliver customized financial data to the buy side. Innovation, investment and development have been continuous ever since. World-class data and the best available technology remain our priorities. The proprietary technologies we offer allow us to provide a unique service to every one of our 300-plus clients. The complexities of the buy side demand more than technological excellence alone. Beyond world-class IT, our specialists have the broad expertise in technical and financial markets needed to promote business success. Our managed data services are supported by a team of experts who have an unparalleled understanding of specialist data types. Our primary goal is to act as the most effective possible intermediary between our clients and data partners. That requires close and active partnerships with all major data vendors and systems providers in order to provide a truly managed service. Every aspect of the data workflow is controlled by RIMES on our clients’ behalf, all the way from data sourcing through to delivery of data that is ready for individuals’ desktops. All data feeds passing through RIMES are monitored 24/7.

There are many instances where we have responded to specific client needs and wider regulatory developments. For example, this year we launched a specialist managed service for buy-side compliance officers: RIMES RegFocus. It is designed to reduce the risk of insider dealing and market manipulation, in accordance with new Market Abuse Regulation Reg. EU 596/2014 and ESMA RTS. Data complexity and the entity level for monitoring are very different for the buy side compared with the sell side, and the reasons for market abuse are not the same. The way in which asset managers are measured impacts the risk of manipulation, and we were aware that a typical sell-side solution could not be applied to the buy side. We developed RIMES RegFocus specifically for our clients, to streamline and simplify all aspects of MAR compliance.

What enhancements can users look forward to over the next 12 months for RIMES MDS?

Ferrari: Successful investment management relies on high-quality data, and this requirement drives the increasing buy-side focus on data governance best practices. Visibility of data provenance and lineage of data is crucial, and the RIMES Managed Feeds Workstation is a new service enhancement for RIMES MDS. It provides online access to an extensive set of RIMES benchmark and feed inventory reports and operational tools to enable best practice data governance.

Workstation reports allow clients to analyze and filter data and then print or export that information. Report categories at launch include benchmarks, data providers, feeds, and feed destinations. Operational teams also have access to the popular feed monitor, exchange holidays and the new case tracker. A rich set of functionality helps clients tailor outputs to their needs.

Benefits of the Managed Feed Workstation include efficient tracking of all RIMES-sourced benchmark and reference data feeds; data governance facilitation with instant access to provenance and lineage reports; and access to an effective way of demonstrating to benchmark data providers and regulators what data is being received and how it is being transformed and used.

As well as rolling out the Managed Feeds Workstation, RIMES is also launching a new Benchmark Analytics Workstation. This is an add-on subscription service providing fast and easy viewing of the benchmarks provided in RIMES MDS feeds. At launch, the information available includes reports on constituents, returns and reconstitutions. Benefits include improved front- and middle-office decision-making and increased business efficiency; an efficient way to make specialist benchmark and reference data accessible to meet individual business needs; and support for best practice data governance, with full control over the dissemination and use of the data by named individuals.

RIMES was one of three recipients of service to the industry awards. How does this award speak to the firm’s ability to continue to adapt and evolve with the industry?

Ferrari: We keep a firm finger on the pulse of the market to understand the data management challenges faced by the buy side. These challenges have been our core guiding principles since 1996. We offer expert advice based on deep market knowledge, and we strive to foster long-term relationships through professionalism, commitment, and service excellence. Our clients’ success is our success.