China Life Asset Management Company (CLAMC) has selected Markit, a UK-based financial information services company, for enterprise data management (EDM) platform.
Markit Enterprise Data Management (EDM) will act as a central hub for all of CLAMC’s securities, pricing, positions and transaction data.
Markit claims that its EDM platform will allow the asset manger to satisfy growing data needs from customers and regulators.
Daniel Simpson, managing director and head of enterprise software at Markit, said: "This is a significant contract to win in the Chinese market. Our insurance asset management credentials, experience with the software platforms used by CLAMC and local presence were deciding factors in our successful bid."
CLAMC, an institutional investor in China’s capital markets, currently has US$300 billion in assets under management.