Information Mosaic (IM), the leading provider of global securities and corporate actions processing, has won the City Compass B.I.S.S. Benchmarking Competition for the second consectutive year. In announcing the results, City Compass Research stated that IM and its CAMAâ¢ solution acheived the highest score in the history of the competition.
CAMAâ¢ was recognized for its complete, global functionality, modern architecture, innovative project management methodology, and its unrivalled implementation track record. CAMAâ¢ was awarded Gold Accreditation by City Compass in all three categories: Brokerage, Custody, and Fund Management.
John Byrne, IMâs CEO stated, "We are obviously quite pleased with the results. With our second consecutive win we have effectively won the competition each year in which we have participated. The benchmark, while challenging, is an essential and vital forum for evaluating the corporate actions systems currently available. Keep in mind that CAMAâ¢ is a module of our complete middle and back office solution, converg-eâ¢ and that the global instrument coverage and the technology have a common design. This is validation not only of CAMAâ¢ but of our approach to developing solutions based on market demand and current industry initiatives, and our decision to deploy the most modern, scalable and open technology."
Gary Wright, the Managing Director of City Compass, commented, "This is the first time that any system has gained top marks in all industry categories from the user panel. While the participating systems each showed improvement in functionality, it is still an outstanding result for Information Mosaic and well worth noting their achievement. The benchmarking tests set by the user panel and verified by the CityCompass Research analyst was set at a higher level than previous years so Information Mosaic has performed extremely well."
CAMAâ¢ is a fully web-based, Java solution that automates the entire corporate action process, from announcement cleansing, through to entitlement generation, position reconciliation, and allocations. IMâs use of its patented rules-based engine enables Straight-Through-Processing of corporate actions. CAMAâ¢ is deployed in some of the largest financial institutions in the world.