ABN Amro selects MarkLogic for trade store
Amsterdam-based ABN Amro Bank has chosen MarkLogic Corporation’s database for its trade store – and to integrate trade data across asset-classes and several trading systems.
It will provide a consolidated view of data to provide a “single source of truth” for reporting purposes as well as providing alerts when behaviour is outside normal parameters.
Jaap Boersma, principal architect for capital markets solutions, ABN Amro Bank, says it needs to “respond quickly to changing regulatory requirements” and chose MarkLogic because trade data is “notoriously difficult to handle in relational databases”.
MarkLogic says it “fitted the bill because its fast development could support the bank’s timeline”. The firm adds that regulators increasingly want banks to be able to reconstruct trades and retrace data lineage.
Headquartered in Silicon Valley, MarkLogic has offices throughout the US, Europe, Asia and Australia.