Fitch Solutions will provide its credit rating data service through Bloomberg’s PolarLake’s Enterprise Data Management (EDM) service, according to an announcement by executives of both companies. Bloomberg Polarlake’s EDM service acquires, manages and distributes large volumes of financial data which can be distributed to mission critical risk, trading and regulatory reporting systems. In a statement, Ian Rothery, Fitch Solutions’ global head of strategic partnerships commented, “Bloomberg PolarLake's innovative approach to enterprise data management fits our strategy to broaden market access to our suite of credit market products and services.”
Adding Fitch’s credit ratings data to the EDM service gives financial institutions an independent and fundamental view of long-term credit risk, which helps support risk management and regulatory reporting requirements, such as those mandated by Solvency II and Dodd-Frank.
“Credit and counterparty risk are critical issues for finance professionals, especially with many firms now facing new capital rules and requirements specifying how to benchmark investment portfolios and evaluate OTC-traded securities. The addition of Fitch’s credit rating data into our EDM offering will help our clients make more informed risk management and investment decisions going forward,” said John Randles, CEO of Bloomberg PolarLake in the release.
Fitch along with other data sources are working with Boomberg PolarLake to build a comprehensive solution for centrally managing multiple data sources and distributing the data to systems and authorized users across an organization.
Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio