Bloomberg PolarLake Unveils its Managed Service for EDM

DUBLIN & NEW YORK — Today, Bloomberg PolarLake announced that
its managed service model for enterprise data management (EDM)
is available and currently deployed for Swedbank, Sweden’s
largest bank by number of customers.

“Our managed service model for EDM is now live for Swedbank
and ready for prime-time,” said John Randles, Bloomberg
PolarLake’s Chief Executive Officer. “Bloomberg PolarLake
decided to bring its EDM model to market because demand is
escalating for a comprehensive service that reduces
operational costs and standardizes data processing for global
financial firms.”

Bloomberg PolarLake’s EDM service acquires, manages and
distributes large volumes of financial data so it can be
distributed to mission critical risk, trading, and regulatory
reporting systems. Bloomberg PolarLake defined a unique
managed service model for EDM, which helps global firms manage
enterprise data processing and administration without
incurring the cost of hardware maintenance and software
upgrades.

Torbjörn Ericsson, Chief Operating Officer of Swedbank’s Large
Corporates and Institutions Division, said, “Swedbank prides
itself on its customer focus, providing quality services and
managing risk exposure across an efficiently run organization.
We selected Bloomberg PolarLake’s EDM managed service because
it enables us to avoid redundant data costs and channel
resources toward client needs, as well as managing operational
risk and regulatory requirements.”

At Bloomberg PolarLake’s EDM Centre of Excellence in Dublin,
data for 22 asset classes is aggregated from multiple data
sources, including proprietary client systems, Bloomberg and
third-party data vendors. Swedbank’s defined business rules
and local data formats are applied to its master data feed
(Security Master) at the Centre of Excellence before the data
is distributed to Swedbank’s internal systems.

SIX Financial Information is among the first data providers to
participate in Bloomberg PolarLake’s managed EDM. “We are
delighted to be one of the first service providers to
participate in Bloomberg PolarLake’s innovative managed EDM
model for global financial firms,” said Fritz Hediger, Head of
Global Sales for SIX. “The Bloomberg PolarLake solution
delivers significant advantages in terms of on-boarding new
data and managing that data in an intelligent way. This
enhances the structure and linkage of our data services for
security master, regulatory compliance, corporate actions and
more. By alleviating the overhead and complexity of data
management, the managed service model allows customers to
focus on adding value to their own services.”

Bloomberg PolarLake operates as an independent subsidiary and
it maintains separate facilities and operations staff at its
Centre of Excellence facility so it can provide the highest
levels of security, privacy and permissioning for the data it
receives.

For more information about Bloomberg PolarLake’s managed
service for EDM, please visit: www.polarlake.com

About Bloomberg PolarLake

Bloomberg PolarLake, the global EDM managed service provider,
delivers a robust, customizable, open and inclusive managed
data service, which centrally acquires, manages and
distributes complex and wide-ranging financial data sets with
speed, agility and control. Worldwide, financial firms benefit
from the Bloomberg PolarLake managed service through reduced
costs and increased data quality achieved by eliminating the
need to build home-grown solutions and avoiding the non-stop
maintenance and upgrade cycle of in-house implementations.

About Bloomberg

Bloomberg, the global business and financial information and
news leader, gives influential decision makers a critical edge
by connecting them to a dynamic network of information, people
and ideas. The company’s strength – delivering data, news and
analytics through innovative technology, quickly and
accurately – is at the core of the Bloomberg Professional
service, which provides real time financial information to
more than 310,000 subscribers globally. Bloomberg’s enterprise
solutions build on the company’s core strength, leveraging
technology to allow customers to access, integrate, distribute
and manage data and information across organizations more
efficiently and effectively. The Bloomberg Professional
service is owned and distributed by Bloomberg Finance L.P.

Media Contacts

US – Vera Newhouse, vnewhouse@bloomberg.net, +1-212-617-6420

EMEA – Natalie Harland, nharland1@bloomberg.net, +44-20-3525-8820

APAC – Belina Tan, belina.tan@bloomberg.net, +65-6231-3637