RIMES launches unique Index Identifier
RIMES, a specialist in Managed Data Services and RegTech solutions for financial institutions, has launched the RIMES Technologies Index Identifier (RTID).
The new service, developed in line with customer requests for a simplified process for gaining insight into benchmarks and indexes, addresses issues associated with identifying and tracking the huge variety of identifiers used by index providers and by the information platforms used in the front office, such as Bloomberg Tickers and Reuters’ RICs.
Steve O’Brien, Global Head of Sales Engineering at RIMES, says: “The ability to identify and track the use of indices and benchmarks is essential for investment management firms. It drives good governance, enables billing and cost management and helps ensure compliance with the EU & UK Benchmarks Regulation. However, data management teams can struggle to map benchmarks usage across their various investment operations due to the huge amounts of data and inflexible Enterprise Data Management tools or complex workaround systems. RTID removes the time-consuming task of managing benchmarks identifiers without firms having to invest in new, in-house technology.”