Access Data and IBM Manage Shareholder Data

February 5th, 2007: Enterprise reporting and data management specialist Access Data has forged a new partnership with IBM to bolster its expanding data management software and services portfolio.

Access Data says that the need for detailed shareholder data has become an important factor when it comes to meeting new regulations in the US share market, such as SEC Rule 22c-2. This new rule relates to the monitoring of shareholder trading patterns in order to detect market timers. It requires financial intermediaries to provide mutual fund companies access to shareholder identification and transaction information upon request.

The company offers financial services firms a proprietary shareholder transaction data exchange network, Access Data ExchangeSM, to provide straight through processing of detailed shareholder data among mutual fund companies and financial intermediaries. It enables clients to streamline data feeds into a single service instead of developing unique streams for each trading partner, and thanks to the new IBM partnership, is now more scalable than ever.

"With 500 mutual fund companies distributing over 8,000 mutual funds through 6,500 financial intermediaries, representing over 400 million accounts, the challenge to mutual fund companies and intermediaries to share, store, and secure data is daunting," said Daniel Cwenar, president and chief operating officer of Access Data Corp. "IBM's significant resources, including hardware, software and services, will assist us in providing our clients secure and scalable solutions required to meet Rule 22c-2."

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