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Data Management solution reduces data-related errors before compliance check
Princeton (NJ), 2 December 2009. Princeton Financial Systems (PFS), a leading provider of investment accounting, investment compliance, data management, performance measurement and reporting solutions to the global investment industry, today announced the availability of MIG21 Data Manager. The new module for MIG21, PFS' award-winning investment compliance solution, provides data editing and maintenance functionalities to improve data quality and help minimize data-related compliance errors.
MIG21 Data Manager enables users to centrally maintain and add missing or incorrect compliance data such as fund or asset information, ratings as well as issuers and to easily configure new structured products or other asset classes. MIG21 Data Manager thus minimizes the time-lag between data changes, their correction in the back office system and subsequent upload into the compliance server. In combination with the Bloomberg Data Feed Connector Bloomberg data can be automatically imported to keep market data updated.
Sophisticated data override capabilities ensure that any automatically imported data overwrites manual data changes only according to pre-set rules. A maker/checker principle together with a full audit trail for all manual data changes ensures maximum data security of PFS’ new MIG21 data management solution. The solution also provides statistics for data imports. MIG21 Data Manager has been designed to work with MIG21 6.1 and above.
Hubert Gries, Product Manager Compliance and Order Management at PFS, emphasizes: "Many compliance officers struggle with data-related compliance errors: the back office system may not deliver all data needed for the compliance check, certain master data such as issuer information are either missing or incorrect or market data might not be current. The new MIG21 Data Manager is designed for this need. It is the first data solution that facilitates and accelerates data management in the compliance system to avoid errors during the check run. Together with MIG21, the solution caters perfectly to the growing demand in the market for a secure, future-proof and user-friendly solution to efficiently manage any kind of compliance information."