NEW YORK and BEIJING, April 17, 2012 /PRNewswire/ --
CITIC Securities, a leading international investment bank based in China, has selected GoldenSource as their core enterprise data management (EDM) platform. As part of a strategic middle and back office infrastructure initiative, CITIC Securities is launching the first data management phase with GoldenSource Securities & Products as the security reference data platform.
"We recognize integrated EDM as a critical underpinning to growing current operations as well as enabling us to manage both Chinese domestic market data and international market data in support of our growing Qualified Domestic Institutional Investor (QDII) business," said Paulson Wang, vice president at CITIC Securities. "The GoldenSource 360 EDM platform has proven scalability across multiple lines of business, geographies, and products, which was ideal to support our aggressive growth plans."
CITIC Securities' best-of-breed approach places an emphasis on data management as a foundational layer. With this implementation, the firm will increase straight-through-processing automation, improve risk management through more robust central management, and enhance decision making with timely, quality data.
"We are mindful that China has the highest total banking post-tax profits in the world; however, with the advent of QDII, there are many operational challenges Chinese institutions are struggling to deal with," said Neill Vanlint, managing director of EMEA and APAC at GoldenSource. "CITIC Securities is part of a quickly growing group of leading Chinese financial institutions who are adopting standardized reference data repositories to solve performance, risk and customer reporting related issues. Establishing a strong presence in China with a local delivery capability has enabled us to earn the trust of Chinese institutions that need to scale and support increasing volumes."
"Earning this mandate from CITIC Securities underscores our leadership position in China, and aligns with other GoldenSource initiatives in more established markets," adds Mike Meriton, president and CEO of GoldenSource. "CITIC Securities is the third financial institution to select GoldenSource EDM in China, adding to two leading asset management firms in the country. We have established a permanent presence in Beijing, and are continuing to invest in this fast growing market."
About CITIC Securities
CITIC Securities (CITICS) was established in October 1995. CITIC Securities focuses on providing high-quality securities related services to its domestic and foreign customers, including securities trading, underwriting and sponsoring, proprietary trading, asset management, securities investment advisory services and other businesses. CITIC Securities is the first Chinese full-service investment bank in China whose A shares are listed on the Shanghai Stock Exchange (SSE) and H shares on the main board of The Stock Exchange of Hong Kong Limited (SEHK). CITIC Securities raised USD1.7 billion in October 2011 when it IPO on the main board of The Stock Exchange of Hong Kong Limited (SEHK). As of the end of 2010, CITICS' total assets amounted to RMB153.2 billion, with net asset at RMB70.4 billion.
GoldenSource delivers an integrated 360 EDM™ platform for the securities and investment management industry. GoldenSource makes it easy to manage critical reference and market data with Enterprise Data Management (EDM).
Our innovative products create, maintain and distribute a trusted golden copy starting with the industry leading data model which covers all financial instruments, customers and counterparties, and extends to transactions and positions. The ability to connect, organize and aggregate trusted information helps our customers to achieve their business goals by reducing risk and enabling better decisions making. GoldenSource solutions are used by forward-looking banks, brokers, investment managers, service providers, and exchanges to reconcile tactical departmental goals and strategic enterprise objectives.
A proven supplier of on-premise EDM solutions to the world's largest financial institutions, GoldenSource also delivers managed data services via the innovative Powered by GoldenSource™ program.
For more information:
Metia on behalf of GoldenSource
U.S. press office
Email: [email protected]
UK press office
Email: [email protected]