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.
The Screen Group offers a range of specialised services and solutions for the professional financial services industry.
At the foundation of the company Screen built a unique consultancy practice that has made Screen the global leader for market and reference data advisory services. Through benchmarking, user profiling and requirements inventory Screen assists user firms in optimising their market data spend, as well as in researching, selecting and implementing software applications and solutions.
To inform the Financial Services Industry of new vendors and industry trends, Screen has been organising one day trade shows, Screen Events, for the last 18 years.
The offering is completed with a range of in-house developed and supported software solutions, the INFOmatch suite, which allows user firms to manage market data spend, create cost transparency and reduce redundant services.
The labels that represent this unique suite of complementary services are Screen Consultants, Screen Markets and Screen INFOmatch.
For further information please contact:
Mr. Roel Mels
Tel: +31 73 6122 940