Investment software provider SimCorp has teamed up with analytics firm Qontigo, part of the Deutsche Boerse group, as it continues to recruit partners as part of its ‘open platform’ strategy.
As a result of the alliance, SimCorp clients will get access to Qontigo’s portfolio optimisation tools via application programming interfaces (APIs).
According to SimCorp, the open platform strategy is designed to simplify vendor management and encourage innovation.
“Today, asset managers and asset owners license multiple portfolio optimization tools in order to create competitive edge in an otherwise low-yield market,” stated SimCorp.
“However, the sheer choice in the market, coupled with time-consuming and expensive maintenance of multiple system integrations, is draining resources and diverting attention away from the core business.”
Other players in the market have adopted similar operating strategies, striking partnerships with other vendors while using APIs and cloud technology. One example is BlackRock's Aladdin Provider Network.
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