Wall Street & Technology - Sapient Global Markets To Construct European DataWarehouse
By Melanie Rodier
Sapient Global Markets has been selected to design and build the European DataWarehouse, which is part of the European Central Bank's efforts to more easily assess the risk of and improve transparency standards for asset-backed securities.
The European DataWarehouse will be fully operational by the first half of 2012, and will be the first European central data repository owned and operated by the market for the market. It will allow ABS originators to submit loan-level data electronically in accordance with reporting templates developed by the ECB.
The European DataWarehouse will also provide functionality for the processing, verification and transmission of loan-level data between originators of and investors in securitized products. "Sapient Global Markets firmly believes in the initiatives being undertaken to restore investor confidence in securitized products," says Chip Register, head of Sapient Global Markets.
Contenders to build the warehouse also included Bank of New York Mellon, Experian, and Thomson Reuters.
Sapient Global Markets, a division of Sapient, offers services across advisory, analytics, technology, and process, as well as methodologies in program management, technology development, and process outsourcing.
Its Structured Finance Risk Manager is a system that automates the portfolio risk monitoring and analysis of ABS, MBS, and covered bonds, among others.