Cordium Compliance Platform Embedded with Electra Data for Secure Data Collection

By CIOReview | Wednesday, June 24, 2015
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NEW YORK, NY: Electra Information Systems (Electra), provider of software solutions for asset management industry, announces the addition of its Electra Data into Cordium’s, the provider of compliance consulting, Compliance Employee Level Filing (ELF) platform.

Electra Data is a mechanized data acquisition service that purges the need for Cordium to establish, manage and maintain data feeds with brokers that are servicing its clients. On Cordium’s behalf, Electra now manages the flow of data through direct feeds.

“This strategic partnership not only adds significant benefit to Cordium’s data management operations, but it also helps to extend Electra’s reach to include the vast collection of compliance and trading data currently used by Cordium clients,” says Ian Danic, Executive Director at Electra.

Through the inclusion of Electra Data, an alternative solution is offered to the existing account aggregation connections, delivering Cordium’s clients with benefits of enhanced security. Cordium’s internal processes are also made more efficient as Electra Data reduces manual processes, associated costs and risks.  

Jordan Schwartz, Director of Global Software Solutions at Cordium, says, “Our decision to utilize Electra Data was prompted by the increasing demand among our clients for a seamless method of utilizing direct feeds sent by the brokerage firms,”