About a-team Marketing Services

A-Team Insight Blogs

Olayan Group to Implement TAPMaster as Core Data Platform

Subscribe to our newsletter

The Olayan Group, a Saudi multinational, has decided to implement TAP Solution’s TAPMaster platform as its core reference data management system for its asset management operation. The deal is the first for TAP for some time, following its big win at Morgan Stanley (Reference Data Review, January 2005).

At Olayan, TAPMaster will become the company’s corporate data hub. As such, it will provide the platform for deploying and managing a full range of reference data, including securities, issuers, counterparties, transaction and holdings. Olayan plans to use the new implementation, which is part of a major systems upgrade, to support new applications for portfolio accounting, order management and general ledger.

According to Ali Al-Ashqar, Olayan’s CTO, partly due to limitations on its IT resources, the company was seeking an off-the-shelf system to form the foundation of its new enterprisewide system architecture. Al-Ashqar says key requirements were ease of implementation of new business applications and the flexibility to integrate new asset classes, compliance requirements and data sources in the future.

Having made its decision to install TAPMaster, Olayan plans to begin implementation next month, with full integration with the new applications expected to be completed before the end of the year. TAP Solutions will work on the implementation with Olayan’s staff in New York, London and Athens. As part of the project, TAP Solutions will convert historical information held on a number of legacy systems over to the new platform.

Olayan operates a variety of businesses in a range of industries, including distribution, manufacturing and services. As a corporate, it is a major investor in both listed and private equities and fixed-income securities.

TAP Solutions came to prominence after winning the contract to provide Morgan Stanley’s retail brokerage – the former Dean Witter Reynolds – with a new enterprisewide securities master service. The Securities Master Service (SMS) was Morgan Stanley’s initiative to implement a centralized database to feed normalized data from multiple sources to a wide range of applications. These applications previously drew upon discrete security master files that had been designed to satisfy the specific requirements of the respective applications. This legacy situation made comprehensive and consistent updating of fields difficult. As a result, Morgan Stanley turned to TAP Solutions to provide its TAPMaster platform as a base data model for the SMS facility.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Strategies, tools and techniques to extract value from unstructured data

Date: 12 September 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Unstructured data is voluminous, unwieldy and difficult to store and manage. For capital markets participants, it is also key to generating business insight, making better-informed decisions and delivering both internal and external value. Solving this dichotomy can be a...

BLOG

S&P Global Market Intelligence Updates Capital IQ Pro with Fixed Income Data and GenAI Summarisation

S&P Global Market Intelligence continues to update its Capital IQ Pro data and analytics platform with the addition of more than 19.4 million fixed income securities with full reference data, pricing and analytics. The company has also added GenAI-powered earnings transcript summarisation capabilities and enhanced private markets and segment data. The fixed income data includes...

EVENT

RegTech Summit New York

Now in its 8th year, the RegTech Summit in New York will bring together the regtech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Dealing with Reality – How to Ensure Data Quality in the Changing Entity Identifier Landscape

“The Global LEI will be a marathon, not a sprint” is a phrase heard more than once during our series of Hot Topic webinars that’s charted the emergence of a standard identifier for entity data. Doubtless, it will be heard again. But if we’re not exactly sprinting, we are moving pretty swiftly. Every time I...