Citadel Associates (Citadel), a provider of enterprise data management (EDM) systems for the buy-side, announced on Monday that Principal Global Investors, a diversified asset management organisation, has deployed its global data management platform, CADIS.
"Firms, particularly on the buy side, face several challenges in handling their corporate data, including the ability to trade new asset classes quickly to gain a competitive advantage," says Stuart Plane, director, Citadel. "That Principal Global Investors has selected CADIS as its strategic data management platform is an endorsement of our ability to help global firms address their EDM requirements," he explains.
Citadel says multiple data sources can be quickly integrated into the CADIS platform. In addition, firms can change accounting systems without the need for significant IT development, allowing them to manage outsourced investment accounting or fund administration.
Citadel's technology delivers an environment for the management, processing, cleansing and enrichment of corporate data, says the firm. The CADIS platform unites legacy systems and empowers the business user, allowing them to overcome the challenge of disparate data sources, according to Citadel.
The EDM provider says that using open architecture, firms can continue to pick the best-fit solutions, outsource their IT and confidently enter new markets including derivatives and hedge funds.