IBM, SunGard and GoldenSource today launched a promotion for enterprise data management.

The EDM council is made up of executives from investment banks, asset management companies, securities services firms and industry vendors.

Awareness of EDM in the financial services industry is the aim of the Council.

Integrating and standardizing of reference and transaction data, including five central categories to the financial services industy is the goal of the Council. The five areas are securities, customers, counterparties, transactions and positions. Full details are on the press release.

Compliance with regulatory requirements, such as Basel II, Sarbanes-Oxley or Know Your Customer, is reliant on EDM, said Dale Richards, president, enterprise data management, SunGard. "By bringing industry leaders together, the EDM Council can share best practices, and ultimately assist financial services institutions in tackling these compliance challenges."

A seminar is plannend for the 16th June.

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