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Sector to Offer IMComplySM to Reuters Messaging Customers, and more

Sector to Offer IMComplySM to Reuters Messaging Customers, M&S Money Adopts Similarity Systems ATHANOR for Basel II Compliance

Sector to Offer IMComplySM to Reuters Messaging Customers

New York-based managed service provider Sector has joined the Reuters Compliance Partner Program. As a result, Sector will now offer IMComplySM, a fully hosted compliance service, to Reuters Messaging customers. This new offering complements existing Reuters Compliance Partners Program vendors who offer deployed (as opposed to hosted) compliance solutions. The Sector IMComply offering will support the Reuters Messaging network, and offer storage and retrieval of IM messages in conformance with information life cycle management policies as well as regulatory requirements.

"Our alliance with Sector further enhances the value of the Reuters Messaging Compliance Partner Program," said David Gurle, executive vice president and global head of collaboration Services at Reuters, in the press release. "It provides our customers the flexibility to work with a third party provider to monitor and log their Reuters Messaging traffic in a hosted and trustworthy environment."

M&S Money Adopts Similarity Systems ATHANOR for Basel II Compliance Marks & Spencer Money, a wholly owned subsidiary of HSBC Bank, has chosen Similarity Systems' data quality solution ATHANOR to drive its Basel II compliance and companywide data management strategies. The financial services company also is using ATHANOR to manage conformity and consistency across its global Reference Data infrastructure. Under Basel II, financial organizations will be required to implement sophisticated risk-management practices for tracking and publicly reporting exposure to credit, market and operational risks. ATHANOR offers a single platform for tackling data quality at multiple points across the organization while maintaining centralized control and management to internal and external Data Quality standards. It will enable M&S Money to analyze, cleanse and standardize data in its compliance data warehouse. The solution also will enable the financial services provider to monitor and guarantee ongoing Data Quality and accuracy across all its systems for both internal and external (Financial Services Authority) auditing purposes.

"High quality data is the backbone of successful risk management," said Neil Hershaw, information management officer manager, Marks & Spencer Money, in the press release. "We chose ATHANOR because of Similarity Systems' deep understanding of the data quality issues around Basel II compliance, the fact that the solution is designed for use by business personnel, and its ability to integrate with our existing IT infrastructure."

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