PolarLake and Evolution launch RIXML research integration solution
Published September 15, 2003 / Press Releases
A recent report estimated that banks and brokerages could save between $50m and $100m annually by employing XML-based standards, such as RIXML, in their research efforts.
Today, PolarLake and Evolution, the UK-based business and technology advisor to the financial services industry, launched a joint Equity Research Integration Solution based on these standards to help sell side companies realize these forecasted gains.
Leveraging the Research Information XML (RIXML) standard, the announced solution is focused on integration with existing systems and combines PolarLake's software-based XML integration platform with Evolution's consultancy services and authoring capabilities providing a comprehensive modular solution for authoring, compliance, publication and personalizing the research for the sell side.
Ronan Bradley, PolarLake CEO, commented:
"The financial benefits of adopting RIXML are significant. An Accenture report quoted in STP Magazine estimates that a bank with a five per cent market share could save as much as $35m, gain $60m in productivity, and accrue between $200m and $400m in revenue benefits by modernizing its research systems.
PolarLake, with our industry proven XML integration platform, and Evolution, with its great knowledge and experience in building research information systems, are uniquely placed to deliver these benefits."
Peter Robin, Evolution CEO, commented:
"RIXML promises both buy and sell side firms significant benefits by reducing the overheads and increasing the benefits to be gained from financial research.
We are impressed with the PolarLake products, and with the benefits they bring to research information systems, in reducing both the cost and risk associated with these projects. I believe that the combination of our expertise and PolarLake's products will be appealing to a wide range of Tier 1 customers."
About PolarLake
PolarLake enables firms to deliver on the full promise of EDM, integrating into downstream systems with 75% less time and 80% less resources than generic ETL products. Its flagship product, PolarLake RDD (Reference Data Distribution) is a domain specific Integration application built to manage to end-to-end process of Reference Data Distribution.
PolarLake RDD provides unique capabilities for Business Operations, Business Analysts and Technology to manage and control Reference Data Distribution. PolarLake has been recognized by Industry Analysts as a leader in its space, named by Aite as the most packaged Reference Data Distribution solution and included in the Gartner visionaries’ quadrant. PolarLake’s clients include Global Sell side, Buy side and Asset Servicing Institutions.
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