Dublin, London -- 2 April, 2013 -- Fitch Solutions will provide its credit rating data through Bloomberg PolarLake's Enterprise Data Management (EDM) service, executives from both companies announced today.

Bloomberg PolarLake's EDM service acquires, manages and distributes large volumes of financial data so it can be distributed to mission critical risk, trading, and regulatory reporting systems. This service now incorporates Fitch’s global credit rating coverage for Sovereigns, Public Finance, Corporate Finance, Financial Institutions and Structured Finance.

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Dublin and New York -- February 7, 2013 -- Today, Bloomberg PolarLake announced that its managed service model for enterprise data management (EDM) is available and currently deployed for Swedbank, Sweden's largest bank by number of customers. 

"Our managed service model for EDM is now live for Swedbank and ready for prime-time," said John Randles, Bloomberg PolarLake's Chief Executive Officer. "Bloomberg PolarLake decided to bring its EDM model to market because demand is escalating for a comprehensive service that reduces operational costs and standardizes data processing for global financial firms." 

Bloomberg PolarLake's EDM service acquires, manages and distributes large volumes of financial data so it can be distributed to mission critical risk, trading, and regulatory reporting systems. Bloomberg PolarLake defined a unique managed service model for EDM, which helps global firms manage enterprise data processing and administration without incurring the cost of hardware maintenance and software upgrades. 

Torbjorn Ericson, Chief Operating Officer of Swedbank’s Large Corporates and Institutions Division, said, “Swedbank prides itself on its customer focus, providing quality services and managing risk exposure across an efficiently run organization. We selected Bloomberg PolarLake's EDM managed service because it enables us to avoid redundant data costs and channel resources toward client needs, as well as managing operational risk and regulatory requirements." 

At Bloomberg PolarLake's EDM Centre of Excellence in Dublin, data for 22 asset classes is aggregated from multiple data sources, including proprietary client systems, Bloomberg and third-party data vendors. Swedbank's defined business rules and local data formats are applied to its master data feed (Security Master) at the Centre of Excellence before the data is distributed to Swedbank's internal systems. 

SIX Financial Information is among the first data providers to participate in Bloomberg PolarLake's managed EDM. "We are delighted to be one of the first service providers to participate in Bloomberg PolarLake’s innovative managed EDM model for global financial firms,” said Fritz Hediger, Head of Global Sales for SIX. “The Bloomberg PolarLake solution delivers significant advantages in terms of on-boarding new data and managing that data in an intelligent way. This enhances the structure and linkage of our data services for security master, regulatory compliance, corporate actions and more. By alleviating the overhead and complexity of data management, the managed service model allows customers to focus on adding value to their own services.” 

Bloomberg PolarLake operates as an independent subsidiary and it maintains separate facilities and operations staff at its Centre of Excellence facility so it can provide the highest levels of security, privacy and permissioning for the data it receives.   

For more information about Bloomberg PolarLake's managed service for EDM, please visit: 

www.polarlake.com 

About Bloomberg PolarLake 

Bloomberg PolarLake, the global EDM managed service provider, delivers a robust, customizable, open and inclusive managed data service, which centrally acquires, manages and distributes complex and wide-ranging financial data sets with speed, agility and control. Worldwide, financial firms benefit from the Bloomberg PolarLake managed service through reduced costs and increased data quality achieved by eliminating the need to build home-grown solutions and avoiding the non-stop maintenance and upgrade cycle of in-house implementations. 

About Bloomberg 

Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength - delivering data, news and analytics through innovative technology, quickly and accurately - is at the core of the Bloomberg Professional service, which provides real time financial information to more than 310,000 subscribers globally. Bloomberg’s enterprise solutions build on the company’s core strength, leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. 

The Bloomberg Professional service is owned and distributed by Bloomberg Finance L.P. 

Media contacts:  

US - Vera Newhouse, vnewhouse@bloomberg.net, +1-212-617-6420 

EMEA - Natalie Harland, nharland1@bloomberg.net, +44-20-3525-8820 

APAC  - Belina Tan, belina.tan@bloomberg.net, +65-6231-3637

New York, Dublin - May 22, 2012 - Bloomberg LP announced today that it acquired Dublin-based software provider PolarLake and is launching a new enterprise data management (EDM) service to help companies acquire, manage and distribute data across their organizations. 

 "Our customers are looking to find new ways to reduce the cost of managing data while adhering to increasing regulatory requirements for transparency," said Dan Doctoroff, Bloomberg President and CEO. "The Bloomberg Enterprise Data Management business will address those pressures and help companies make their systems more efficient, effective and integrated."   

 EDM is the process by which a firm manages reference data through its entire supply chain:  how it acquires, shares, cleanses, manages, owns and distributes data to all users.  Bloomberg's new EDM unit, with the addition of PolarLake, will allow firms to increase their efficiency by better managing high volumes of data from multiple sources, either third parties or proprietary sources.  

"The PolarLake purchase is a strong signal to the marketplace that Bloomberg intends to be a leader in the enterprise data management business," said Thomas Secunda, Bloomberg Co-Founder and Global Head of Bloomberg's Financial Products and Services. 

PolarLake, a leader in reference data management, distribution and integration, will become a wholly owned subsidiary of Bloomberg, but will operate as an independent business unit. It will have separate facilities and operations staff, so it can provide the highest levels of security, privacy and permissioning for the data it receives.  Geller & Co. advised Bloomberg on the transaction. 

John Randles, CEO of PolarLake, said, "This deal is a game changer for us, Bloomberg, and the enterprise data management industry. The synergy of our technology and Bloomberg's 30 years of experience creates a one-of-a-kind EDM service that addresses regulatory, economic and operational needs." 

For more information about Bloomberg's Enterprise Data Management and PolarLake services, email Jo Ryan at jryan7@bloomberg.net or call +1-212-617-4335. 

About PolarLake

PolarLake is a global leader in applying Semantic Web and Big Data technologies to the data challenges of the leading financial services firms in the world. The PolarLake Platform enables these firms to acquire, manage and distribute financial and reference data with speed, agility and control never before seen with traditional approaches.

About Bloomberg LP

Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength -- delivering data, news and analytics through innovative technology, quickly and accurately -- is at the core of the Bloomberg Professional® service, which provides real time financial information to more than 310,000 subscribers globally. Bloomberg’s enterprise solutions build on the company’s core strength, leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively.

Media Contacts 

•  US - Vera Newhouse, vnewhouse@bloomberg.net, +1-212-617-6420

•  EMEA - Natalie Harland, nharland1@bloomberg.net, +44-20-3525-8820

•  APAC  - Belina Tan, belina.tan@bloomberg.net, +65-6231-3637

Commenting on the appointment John Randles CEO of PolarLake said, “We are delighted to have David join our team. David brings huge experience and insight into the needs of Financial Services Firms. His industry knowledge combined with his successful history of sales and business expansion will be a great asset to PolarLake as the company continues to grow in North America.”

Commenting on his appointment David Toomey-Wilson said, “I am thrilled to be joining a great team with innovative game-changing solutions in an area of the industry that I am passionate about.  It’s exciting to be heading up such an important growth phase, expanding our presence in North America.”

About PolarLake

PolarLake is a global leader in applying Semantic Web and Big Data Technologies to the Data challenges of the leading Financial Services firms in the world. PolarLake’s Platform enables these firms to acquire, manage and distribute Financial and Reference Data with speed, agility and control never before seen with traditional approaches. PolarLake provides the following Solution Suite:

            PolarLake Price Processing Solution

            PolarLake Security Master Solution

            PolarLake Cost Optimization Solution

            PolarLake Data Distribution Solution

            PolarLake Virtualized Data Warehouse Solution

PolarLake has been recognized by Industry Analysts as a leader in Reference Data Distribution and Integration, named by Aite as the most packaged Reference Data Distribution solution and included in the Gartner visionaries’ quadrant.

Financial Services Clients using our products include 6 of the top 10 Investment Banks, 2 of the top 5 Prime Brokers and 2 of the top 10 Asset Managers. Clients have used PolarLake to make in house and commercial Data Repositories easier to distribute and consume data from. Other Financial Services Firms have used PolarLake in the end to end Data Supply Chain, sourcing, linking, validating and distributing data.

Contact

Enda Higgins

Marketing Executive PolarLake

Enda.Higgins@polarlake.com; +353 1  449 10 10

 The components of the PolarLake Virtualized Data Warehouse Solution are:

• PolarLake Data Search Application: An out of the box Search Application enabling clients to answer questions such as, “What are my unsettled Trades?” and “What are my total positions in securities A,B,C?”. The Search Application can also be used to define data extracts in custom formats for reporting purposes.
• PolarLake Semantic Policy and Rules Engine: The Semantic Policy and Rules engine enables the creation and implementation of Business Rules for building consolidated records and the creation of Virtual Identifiers across all repositories. This delivers remote linking of entities with zero intervention on the source repositories themselves.
• PolarLake Data Store: The Data Store provides a store for Source Data as well as Index Data used in Virtualized queries. A post-relational Data Store, it is also fully change tolerant to changes in source repositories with zero downtime for format changes.
• PolarLake Connectivity Subsystem: The PolarLake Connectivity Subsystem enables communication across multiple protocols and formats in batch, real time, request reply, pub sub and ad hoc distributions. This PolarLake component allows for the assembly of Virtualized Queries, data import into the PolarLake Data Store, as well as a sophisticated export / API service to the Data Store.

The Business Challenges which are addressed by the PolarLake Virtualized Data Warehouse solution are:

• Compliance and Regulation: Ability to integrate Trade, Position, Reference & Client reporting across multiple repositories and asset classes over extended reporting periods, giving integrated access and transparency to regulators.
• Risk Management: Ability to track and consolidate unsettled Trades and Counterparties exposures across multiple Trade and Client repositories.
• Operational Efficiency Improvement: Ability to gain insight and control Trade flows across multiple applications from Front, Middle and Back Office.

Commenting on the release, PolarLake CEO John Randles said “At times of huge challenges, innovation always comes to the fore. We are at the point now where the old approaches of massive multi-year Data Warehousing projects are no longer tenable. The PolarLake approach of adopting a Search based view of Data with an Integrated Semantic Policy Engine proven to deliver business requirement in weeks rather than years. This will aid firms to address the tide of Regulation requirements coming down the track and the unending pressure to do more with less.”

About PolarLake

PolarLake is a global leader in applying Semantic Web and Big Data Technologies to the Data challenges of the leading Financial Services firms in the world. PolarLake’s Platform enables these firms to acquire, manage and distribute Financial and Reference Data with speed, agility and control never before seen with traditional approaches. PolarLake provides the following Solution Suite:

• PolarLake Price Processing Solution
• PolarLake Security Master Solution
• PolarLake Cost Optimization Solution
• PolarLake Data Distribution Solution

PolarLake has been recognized by Industry Analysts as a leader in Reference Data Distribution and Integration, named by Aite as the most packaged Reference Data Distribution solution and included in the Gartner visionaries’ quadrant.

Financial Services Clients using our products include 6 of the top 10 Investment Banks, 2 of the top 5 Prime Brokers and 2 of the top 10 Asset Managers. Clients have used PolarLake to make in house and commercial Data Repositories easier to distribute and consume data from. Other Financial Services Firms have used PolarLake in the end to end Data Supply Chain, sourcing, linking, validating and distributing data.

Contact

Enda Higgins

Marketing Executive PolarLake

Enda.Higgins@polarlake.com; +353 1  449 10 10

Commenting on the appointment John Randles CEO of PolarLake said, “We are delighted to have David join our team. David brings huge experience and insight into the needs of Financial Services Firms and will help drive PolarLake’s continued expansion.”

Commenting on his appointment David Gow said, “The innovation, passion and new way of thinking really attracted me to join PolarLake. Today Financial Services Firms have to do more with less and comply with an unending list of regulations. With innovation at its core, PolarLake is exceptionally well placed to meet the demands of the modern Data Management marketplace.”

About PolarLake

PolarLake is a global leader in applying Semantic Web and Big Data Technologies to the Data challenges of the leading Financial Services firms in the world. PolarLake’s Platform enables these firms to acquire, manage and distribute Financial and Reference Data with speed, agility and control never before seen with traditional approaches. PolarLake provides the following Solution Suite:

• PolarLake Price Processing Solution
• PolarLake Security Master Solution
• PolarLake Cost Optimization Solution
• PolarLake Data Distribution Solution

PolarLake has been recognized by Industry Analysts as a leader in Reference Data Distribution and Integration, named by Aite as the most packaged Reference Data Distribution solution and included in the Gartner visionaries’ quadrant.

Financial Services Clients using our products include 6 of the top 10 Investment Banks, 2 of the top 5 Prime Brokers and 2 of the top 10 Asset Managers. Clients have used PolarLake to make in house and commercial Data Repositories easier to distribute and consume data from. Other Financial Services Firms have used PolarLake in the end to end Data Supply Chain, sourcing, linking, validating and distributing data.

Contact

Enda Higgins

Marketing Executive PolarLake

Enda.Higgins@polarlake.com; +353 1  449 10 10

Financial-i’s Leaders in Innovation Awards identify global transaction banks and financial hardware and software providers that in the last 12 months have excelled, in terms of innovation in business solutions. Award winners were selected based on research conducted by Financial-i's team of journalists as well as feedback received from their awards advisory panel, which includes industry analysts, consultants and practitioners.

Anita Hawser, editor of Financial-i magazine commented, “Financial-i chose PolarLake as a Leader in Innovation for Securities Reference Data as the specialist panel was impressed with PolarLake’s innovative approach to solving Data Management challenges using Big Data and Semantic Web Technologies.” 

Commenting on the award, PolarLake CEO John Randles said: “PolarLake are delighted to be recognised as Leaders in Innovation for Securities Reference Data by Financial-i. The market is now looking beyond traditional EDM technologies and is demanding true innovation. This award reflects the truly innovative breakthroughs PolarLake have made in Securities Reference Data Management.”

About PolarLake

PolarLake is a global leader in applying Semantic Web and Big Data Technologies to the Data challenges of the leading Financial Services firms in the world. PolarLake’s Platform enables these firms to acquire, manage and distribute Financial and Reference Data with speed, agility and control never before seen with traditional approaches. PolarLake provides the following Solution Suite:

• PolarLake Price Processing Solution
• PolarLake Security Master Solution
• PolarLake Cost Optimization Solution
• PolarLake Data Distribution Solution

PolarLake has been recognized by Industry Analysts as a leader in Reference Data Distribution and Integration, named by Aite as the most packaged Reference Data Distribution solution and included in the Gartner visionaries’ quadrant.

Financial Services Clients using our products include 6 of the top 10 Investment Banks, 2 of the top 5 Prime Brokers and 2 of the top 10 Asset Managers. Clients have used PolarLake to make in house and commercial Data Repositories easier to distribute and consume data from. Others have used PolarLake in the end to end Data Supply Chain, sourcing, linking, validating and distributing data.

For information

Enda Higgins, Marketing Executive, PolarLake

enda.higgins@polarlake.com

+353 1 449 1010

The award acknowledges PolarLakes achievement in producing the world’s first Semantics Based Data Management Platform for Financial Services Firms. The category was the most competitive of the evening with 12 other companies nominated for the award but PolarLake was selected because of its ability to innovatively apply Semantic Web and Big Data Technologies to solve Data Management problems in Financial Services Firms.

Commenting on the award PolarLake CEO John Randles said “The Data Management industry is constantly changing due to increased regulatory requirements and firms having to handle internet style scale and complexity. Financial Services Firms require a modern, high performance and flexible solution capable of handling more feeds, more demands and more consumers than ever before. PolarLake’s unique approach of combining Semantic Web and Big Data Technologies allows firms to tackle challenges that traditional Data Management systems weren’t built to solve.”

About PolarLake

PolarLake is a global leader in applying Semantic Web and Big Data Technologies to the Data challenges of the leading Financial Services firms in the world. PolarLake’s Platform enables these firms to acquire, manage and distribute Financial and Reference Data with speed, agility and control never before seen with traditional approaches. PolarLake provides the following Solution Suite:

• PolarLake Price Processing Solution
• PolarLake Security Master Solution
• PolarLake Cost Optimization Solution
• PolarLake Data Distribution Solution

PolarLake has been recognized by Industry Analysts as a leader in Reference Data Distribution and Integration, named by Aite as the most packaged Reference Data Distribution solution and included in the Gartner visionaries’ quadrant.

Financial Services Clients using our products include 6 of the top 10 Investment Banks, 2 of the top 5 Prime Brokers and 2 of the top 10 Asset Managers. Clients have used PolarLake to make in house and commercial Data Repositories easier to distribute and consume data from. Others have used PolarLake in the end to end Data Supply Chain, sourcing, linking, validating and distributing data.

For information

Enda Higgins, Marketing Executive, PolarLake

enda.higgins@polarlake.com

+353 1 449 1010