International provider of financial information services Markit Ltd (NASDAQ:MRKT) today announces that Santa Fe-headquartered Thornburg Investment Management (TIM) has selected its enterprise data management (EDM) solution.
TIM, a global investment firm with $56 billion in assets under management, will implement Markit EDM to address data quality and governance issues in the firm’s legacy applications and manual processes.
The project includes building masters for security and price data and creating a data hub for positions, transactions, composite performance and benchmarks. DataStore will also be used to capture daily snapshots of all key entities.
Randy Dry, managing director and head of the Institutional Group, TIM, says,
“The implementation of a single data hub will provide us with a flexible architecture to support our evolving business strategy over the coming years”.
Spiros Giannaros, managing director, Markit EDM, says,
“Using point solutions to manage enterprise data is a common but ineffective approach. By creating master data entities and using Markit EDM as a central hub for integration, TIM is laying the foundations for a long term strategy that will provide interoperability with new sources and consumers of data.”
You can view the official announcement on the collaboration by clicking here.