ICAP ditches manual spreadsheets for Oracle's data controls

Deal broker ICAP has become the first UK company to implement Oracle's Enterprise Data Governance tool, as it shifts away from manual processes.

The organisation, which carries out trades on behalf of financial institutions and provides post-trade risk services, has also deployed Oracle's Data Relationship Management and Data Relationship Governance software to replace a legacy process involving manually updating spreadsheets and email exchanges.

ICAP can now handle its master data more accurately, effectively and quickly using the data governance application, the firm claimed, using the other two tools to automate its enterprise performance management applications.

Viv Leese, CFO of global business services at ICAP, said: "This has enabled us to control the release of master data changes from our development to our production environment. We can test the impact of our master data changes on numbers in our preproduction environment to ensure the required effect.

"We can then release these changes using a controlled and automated process to our production environment."

Implementing the software with the help of its systems integration partner, Seismi, the Data Relationship Management software has helped ICAP manage changes in its master data across the three silos of operational, analytical and enterprise performance management data.

Meanwhile, the Data Relationship Governance tool helps ensure the consistency and accuracy of master data across different staff viewing it, including business users and data stewards.

Rahul Kamath, director of product management at Oracle, said: "Since its release, Oracle Data Relationship Governance not only has demonstrated strong sales momentum but also has delivered value through successful implementations among a series of early adopters.

"We are delighted that ICAP has achieved the first implementation of Oracle Data Relationship Governance in the UK."

Oracle Data Relationship Management and Oracle Data Relationship Governance are part of the Oracle Enterprise Performance Management (Oracle EPM) portfolio.