The GoldenSource Derivatives solution provides a 360 degree view of instrument, issuer and counterparty exposure, creating a local CDS warehouse capability. The solution establishes and maintains a trusted repository of data for critical applications such as risk management, and has no limit to the type or complexity of instrument it can handle.

GoldenSource, the leading provider of data management solutions, has been shortlisted in the ‘Best New Vendor Solution' category for this year's Financial News Awards for Excellence in IT with its GoldenSource for Derivatives solution. Launched in March 2009, GoldenSource for Derivatives is the only data management solution developed specifically to handle the unique complexity, volume and lifecycle of derivatives data.

Developed in response to client demand for instrument-level transparency and in anticipation of increased regulatory and repository requirements, the preconfigured solution provides a 360 degree view of instrument, issuer and counterparty exposure, creating a local CDS warehouse capability. The solution establishes and maintains a trusted repository of data for critical applications such as risk management, and has no limit to the type or complexity of instrument it can handle.

"We are very proud to be nominated for this award which recognizes IT excellence in the European banking and vendor community," says Mike Meriton, CEO and President, GoldenSource. "A huge amount of work went into developing a solution that is unique in its ability to handle the diverse nature of derivatives data. The level of insight provided by GoldenSource for Derivatives will become increasingly critical as financial institutions look to increase their use of these instruments once more, while keeping stronger control of their exposure."