The announcement today that GoldenSource, the independent provider of Enterprise Data Management (EDM) and Master Data Management (MDM) solutions, will be implementing eXtremeDB®, the ultra-high-speed database technology from ultra-efficient database systems developer McObject, is a first for the world of Enterprise Data Management (EDM) and represents a leap in both performance and capability for the RegTech sector.
Tom Stock, GoldenSource SVP Product Management, said:
Having looked at a number of specialist vendors, we chose eXtremeDB because of its speed and reliability in handling large, complex time- series data sets. Compliance has become one of the most demanding areas in every financial institution, whether it’s implementing MiFID II or getting ready for FRTB. It’s clear that ‘old-tech’ can’t cope and the way forward is to innovate, which is exactly what we’re doing with McObject. Among other things, the ‘Tick Master’ capability provided by eXtremeDB extends our established leadership in the FRTB solutions space.
Charlie Browne, Head of Market Data & Risk Solutions at GoldenSource, added:
Regulations such as FRTB require market risk departments to analyze over ten times more time-series market data than before, so a huge amount of time-series processing power will be needed to be compliant. In addition to speed and the ability to process large quantities of data, clients also require richer data sets for golden price generation, which is what eXtremeDB will help us do outstandingly well.
With banks under growing pressure to meet FRTB and MiFID II requirements, legacy infrastructures have proved incapable of achieving the necessary speed, agility, and processing power. And as more and more banks incorporate intra-day tick price mining and validation capabilities into their compliance systems, this new EDM solution will position GoldenSource well ahead of the curve.
Steve Graves, CEO and co-founder of McObject said:
This is an important collaboration for us: working with a tier-one financial services technology provider is a significant milestone for McObject. GoldenSource is the ‘go-to’ provider of essential data technology in the financial sector and integrating eXtremeDB is a major step forward for future-proofing their clients. I am confident that this partnership will be unbeatable for quality and speed of data access and management.
Ian Hillier-Brook, CEO of MCO Europe, McObject’s Financial Markets partner, noted:
This is a major opportunity to showcase eXtremeDB in the high-demand RegTech sector.