BNY Mellon Asset Management has selected Markit, a UK-based financial information services company, for enterprise data management (EDM) platform.
Markit Enterprise Data Management (EDM) will allow BNY Mellon to combine the components of its data management operations and eliminate manual processes.
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According to Markit, the first phase of the project will focus on amalgamating, cleansing and validating index data to create a master dataset for analytics.
Additionally, BNY Mellon is also planning to expand the usage of the platform to support the growing data management needs of its global subsidiaries.
Daniel Simpson, managing director and head of enterprise software at Markit, said: "Organizations on the buy and sellside recognize the need for an enterprise-wide platform to take control of their data and break down silos.
"The implementation will enable the investment manager to have complete confidence in the data used across the business."
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