KBC Group implements INFOmatch for market data management.
KBC Group, headquartered in Brussels, has implemented INFOmatch, the market data cost & contract management system, to manage its market data expenditure. KBC uses INFOmatch in Brussels, London and Luxembourg, with scheduled extensions to other sites.
AMSTERDAM and BRUSSELS, February 4, 2008 – KBC Group, one of the largest European bank – insurance combinations, with a top three position in both of its home markets, Belgium and CEE, has implemented INFOmatch, the leading market data management system. KBC deploys INFOmatch’s ASP version, having the system and its database run on Screen INFOmatch’s server farm, with client connections initially to KBC’s headquarters in Brussels, as well as to KBC Group entities in London and Luxembourg. In a second stage, additional KBC Group entities, amongst others including sites in Central and Eastern Europe will connect to the system.
KBC’s decision for INFOmatch came after a thorough review process, initiated by KBC’s Market Data Competence Centre (MDCC) headed by Mr. Ludo Steenhaut. He states: “The goal of the review was to analyse the available systems in the market in order to be able to select the one which would best support KBC in achieving its goals towards global market data management. It is our aim to create transparency in order to control the annual market data spent”.
The database configuration was broken down into two stages. The first stage, which was finalised December last year, concentrated on uploading market data profiles from on-floor and off-floor users located in Brussels, London and Luxembourg. During the second stage, the rest of the group’s market data user community will be administered. This includes KBC Group entities in Central and Eastern Europe and in the major financial centers across the globe (London, New York, Tokyo, ….). Eventually, the database will hold profiles from several thousands market data users.
To manage its market data inventory, KBC has chosen to deploy a structured model. The foundation is the MDCC with a central component and its local administrators, providing support services to the group entities using market data. To achieve its goals, the MDCC is supported by tools such as INFOmatch. “With INFOmatch we are able to detect money saving opportunities, for instance by tracking unused services and exchange fee overlaps. It will also support us with compliancy reporting back to vendors and exchanges and with the optimization of our agreements with market data services vendors. Additionally, the tool also facilitates group level market data services governance and the management of corresponding budgets”, says Mr. Steenhaut.
“We are honoured to welcome KBC as a new INFOmatch customer”, says Peter fruitema from Screen INFOmatch. “It is great to experience that KBC has decided for our system and our organization. In the last couple of months we have been working closely with KBC’s MDCC. Our co-operation has resulted in a successful implementation of INFOmatch, in a young yet professional and ambitious market data organization. We look forward to contribute to the next stages of KBC’s plan to implement market data management globally”.
About KBC Group
KBC is one of the leading European financial concerns. A bancassurance group engaging in multi-channel distribution with a geographic focus on Europe, it caters for retail and private banking clients, as well as small and medium-sized enterprises. Aside from providing retail and private bancassurance services, KBC also engages in asset management, corporate services, and market activities.
KBC holds significant and even leading positions in its two home markets of Belgium and Central and Eastern Europe and has a vast private banking network that revolves around the KBL European Private Bankers concept. In addition, the group has established a selective presence in other countries and regions around the globe.
Over the past ten years, KBC has built up a significant presence in Poland, the Czech Republic, Slovakia and Hungary. KBC’s long-term strategy includes seeking out new opportunities in the countries that will be acceding to the EU and elsewhere. Since the end of 2006, the group has taken significant measures and expanded its activities into several other countries through acquisitions in Romania, Bulgaria, Serbia, Russia and Latvia.
KBC Group is listed on Euronext Brussels (ticker symbol ‘KBC ‘) and on the Luxembourg exchange. With an equity market capitalisation of some 30 billion euros, KBC is one of the top companies in Belgium and a leading financial group in Europe, employing 55 000 people and serving 12 million customers.
About Screen INFOmatch
Screen Consultants is the leading Independent Market Data & Financial Technology Specialist for the Financial Services Industry. Screen offers specialist services on information services, technology and cost management in financial institutions’ front, middle, and back-offices. Screen has a global presence and its customer base includes more than 200 financial institutions world-wide. Screen provides value to its clients through three lines of business:
Specialist services – Screen delivers a full range of market data management services such as cost reduction studies, managed services, dealing room benchmarking projects, and assists with making strategic choices related to investment management technology.
INFOmatch® – the number-1 rated administrative tool to manage market data costs and contracts, control entitlements, budgets and changes. INFOmatch has interfaces to major vendors such as Reuters (DACS), Telekurs and Bloomberg.
Screen Markets – Organisation of exhibitions and conferences for the financial community across the globe.
For further information please contact:
Screen INFOmatch BV
Mr. Peter Fruitema
Director Screen INFOmatch
Tel: +31 73 6122 940