Financial institutions set up EDM Council
GLOBAL – A consortium of banks and technology companies have coalesced their efforts to found the Enterprise Data Management (EDM) Council, an industry body that will promote the standardisation and integration of reference and transaction data.
Fifteen financial institutions, including Credit Suisse First Boston (CSFB), Deutsche Bank, Franklin Templeton, Pioneer Investments and Bank of America, joined several other firms to create the EDM Council on June 16.
The EDM Council, whose board of directors should be established this November, consists of executives from corporate and investment banks, asset management companies, securities services firms and industry vendors.
"The 15 financial institutions involved in this initiative will be
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