HCL Technologies announces Penstock Foundation Data Management Product for Capital Markets Businesses

HCL Technologies Ltd has announced that While data management is a top priority for financial services firms, available solutions have not successfully addressed master data management challenges nor offered the necessary business value, high performance and scalability. Current solutions are either single-purpose with invasive implementations, or quite complex with difficult to learn data models, intricate data filters and outsized enrichment and transformation algorithms. To address these challenges and provide overall operational efficiency, the Company on March 14, 2007 at the Financial Information Management Conference (FIMA) 2007 announced its Penstock Foundation Data Management Solution for the capital markets business, a modular information integration solution designed to help data management professionals meet contemporary technology demands.

The solution was developed by the Company's Penstock Product Engineering group, a transformational program designed to launch new-age technology products to solve the operational and transactional data problems of global financial institutions. Highly flexible, the Penstock Foundation can be used as a data warehouse or as a common data repository, with a fully supported common reporting architecture. This acts as a baseline data model for trading and static data, supporting a range of financial products from basic equities to exotic options and structured products.

"Offered in an SOA environment, Penstock Foundation helps financial organizations achieve better business performance, overcome painstaking data management implementation challenges and realize significant benefits through departmental data portals," said Pramod Gupta, Vice President - Financial Services Products, Penstock Product Engineering Group, of the Company. "With deep technology implementation experience for the capital markets, HCL is uniquely positioned to meet the needs of financial services firms’ data-intensive business, with solutions that can be quickly implemented to provide genuine business value."

The Penstock Foundation Data Management Solution manages data enrichment, validation, transformation and integration across multiple databases and data storage formats, such as temporal or sequential, time-series, relational database management system (RDBMS), hierarchical and object-modeled data. It Is designed to support front- and back-office applications, providing the flexibility to manage firms’ internal information requirements across sales, risk, finance and other functions.

Penstock Foundation supports federated information management and ensures information Integrity and authenticated security across organizational boundaries. Furthermore, the solution is helpful for organizations with multiple legal entities operated out of different geographies, recognizes multiple currencies and is designed to comply with various "best execution" regulations, such as the Markets in Financial Instruments Directive (MiFID) in Europe.

Source : Equity Bulls

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