AIM and Avaloq | Best of Breed Solution for Data Management

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• Integrated solution for banking and data management
• Alliance for best of breed packaging
• Multi-data feed integration for Avaloq

Automatic import of

• Around 150 static data fields: assets, issuers, countries, markets, currencies etc.
• 25 high volume corporate events (Avaloq SecEvents), around 100 subevent types (Avaloq AFTs)
• Prices: asset prices, fiscal prices, end of year prices, EUSD data
• Basel II data: ratings etc.
• Further information is constantly being added

The Avaloq/AIM interface handles

• Automatic data checks and mapping
• Ad hoc opening of new instruments in Avaloq
• Daily mutations
• Processing of Avaloq acknowledgements

Back in 2004 Avaloq and AIM Software have entered into a partnership to integrate more closely their two established software solutions in order to provide a reference data management service integrated with Avaloq's banking platform.

An ambitious timetable was put together with Bank Sarasin, which acted as the pilot bank, to create an interface for the Valor Data Feed (VDF) of Telekurs into Avaloq by using GAIN, AIM Software’s flagship reference data management solution.

Best of breed solution reduces risks
Avaloq decided to enter this partnership based on a comprehensive evaluation process of the data management solution providers on the market. Previously, Avaloq and AIM Software acted independently on the market to create custom-tailored solutions for their clients. Therefore, each of AIM Software's projects for interfacing to Avaloq had to be started from scratch as no standardized interface existed to augment this process.

Straight through delivery of data feeds to Avaloq

Martin Buchberger, Head of Marketing & Sales at AIM Software, stressed one of the main motives for this cooperation: "Since we saw the success of Avaloq in the market, this partnership became essential for us to further improve the support for our clients that use Avaloq. This partnership will help reduce project risks and costs for the growing Avaloq user base already serviced by AIM Software."

AIM Software services some of the major Avaloq banks which also act as development partners for the interface. Thereby the Avaloq/AIM interface guarantees a future proof and constantly evolving platform for data management fully aligned with the evolution of Avaloq.

Interface opens the way for added-value features
In the course of this project Avaloq defined a generic XML interface that enables AIM Software to source in data from diff erent sources into Avaloq. In addition, AIM Software can now provide the added value of its data management platform to Avaloq clients, including intra-day instrument openings, routing of data feed requests and the integration of data reconciliation logic.

Avaloq can manage the resulting security data while AIM Software's platform will cover more client specific needs and acts as a data hub and interpreter in the background. The user does not have to leave Avaloq to handle all requests. Yet as another option GAIN can act as the master, providing a golden copy framework to check and manage all back office data to be fed into Avaloq.

Andres Fischer, Alliance Manager at Avaloq, declares: "The decision to partner up with AIM Software was a result of analyzing the features of its solution and the potential synergies of this liaison. The market feedback about the very well introduced solution of AIM Software made it a clear choice for Avaloq to pursue a long-term relationship."

Focus on core competency reduces overhead
A key feature for Avaloq is the ability of the GAIN Data Management not only to connect to a multitude of datafeeds but to also manage the storage, versioning and mapping of the data in several ways. "Including those features directly into Avaloq would have created extensive overheads so we decided to keep a clear separation at this point," Hannes Brunner, Chief Architect at Avaloq, explains.

The Avaloq/AIM interface is capable of importing all necessary data to automatically create assets, issuers, countries, markets, currencies and pricing information within Avaloq. The interface supports around 150 static data fields and 25 high volume corporate events (Avaloq SecEvents) covering around 100 subevent types (Avaloq AFTs). Further features are the ad hoc opening of new instruments, daily mutations and the processing of Avaloq acknowledgements. This gives Avaloq a competitive advantage over other solutions that still require manual input in this area.

"We see this partnership as a symbol for a new era where solution providers will combine their know-how and expertise for extending the reach of their products and services while focusing on their core competencies. We are convinced that this partnership creates an advantageous situation for both the solution providers and their clients," concludes Buchberger.

Avaloq Group AG | www.avaloq.com
Avaloq is an independent banking software company owned entirely by the management and staff. Avaloq employs around 170 IT and business specialists and is based in Zurich. Established in 1985 as BZ Informatik, the company has been developing and marketing the Avaloq Banking System, an integrated standard software package for fi nancial service providers, which can also be used as a modular solution, since 1996. Avaloq has around 20 clients, both small and large, in the retail banking and private banking markets.