NEW YORK, Oct. 7 /CNW/ - 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."
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,
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
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.
For further information:
For further information: Press Contact: Deborah Overdeput, VP, Marketing
& Product Management, Asset Control, (212) 445-1076,