NEW YORK, October 7 /PRNewswire/ -- Asset Control, a world-wide leader in financial data management solutions, today announced that eSecLending, a leading full-service securities lending agent, has chosen Asset Control's AC Plus financial and reference data management software following a rigorous search and selection process.
eSecLending will use AC Plus to support the company's efforts to further increase automation in their securities lending programs which rely on complete and accurate securities data including ratings, end of day prices and corporate actions. AC Plus will help eSecLending in cleansing data and managing exceptions, while supporting increasing volumes and breadth of data.
Daniel Fowler, chief information officer at eSecLending, said, "We chose Asset Control's AC Plus for its ability to handle large volumes of all asset classes. The flexible data model will allow us to continue to grow our business while achieving greater efficiencies and scalability. AC Plus' cleansing and exception process, through its intuitive desktop interface, will allow us to significantly reduce manual processing and ensure that quality data is available quickly to lenders and borrowers."
Phil Lynch, Asset Control's president and chief executive officer, said, "In the rapidly growing securities lending business, the ability to efficiently support high volume lending and borrowing with quality data is a crucial imperative. Asset Control's AC Plus provides the right data management tools to help industry innovators such as eSecLending to gain efficiencies, improve data quality and enhance service, with room to scale and expand as their business needs change."
About eSecLending
eSecLending is a leading full-service provider and administrator of customized securities lending programs and is one of the largest lending agents in the marketplace. Its program has been adopted by some of the world's largest and most sophisticated asset gatherers including pension funds, mutual funds, investment mangers and insurance companies. eSecLending's approach has introduced investment management practices to the securities lending industry, offering beneficial owners an alternative to the custodial lending model. Through eSecLending, beneficial owners have achieved optimal returns, greater transparency and increased control over their program as compared to traditional lending models. The firm now manages approximately $500 billion in lendable assets on behalf of its global client base.
eSecLending maintains offices in Boston, London and Burlington, Vermont. Securities Finance Trust Company, a Maryland USA trust company, Securities Finance Global Advisors LLC, an SEC registered investment advisor and/or eSecLending (Europe) Ltd., authorized and regulated by the Financial Services Authority, perform all regulated business activities. Additional information about eSecLending is available on the company's website, http://www.eseclending.com.
About Asset Control
Asset Control provides centralized data management solutions for financial institutions worldwide. From business-entity to firm-wide projects, Asset Control offers a strategic reference and market data platform that delivers the accuracy, consistency and relevancy firms need to reduce costs and risk, manage evolving compliance needs, and accelerate the delivery of new products and services. A Fidelity Ventures company, Asset Control serves some of the world's most successful financial institutions including Barclays Global Investors, Wachovia Corporation, JP Morgan Chase, LCH.Clearnet, E*TRADE Securities and Grupo Santander. For more information, visit http://www.asset-control.com.
Trademark Information: Asset Control, the Asset Control logo and AC Plus are trademarks or registered trademarks of Asset Control Systems, Inc. or its subsidiaries or affiliates in the U.S. and/or other countries. All other trade names are trademarks or registered trademarks of their respective holders.
Press Contact: Deborah Overdeput, VP, Marketing & Product Management, Asset Control, +1-212-445-1076, doverdeput@asset-control.com
