| Reference data management consistently emerges as a top priority for securities firms in surveys. As a result, demand exists for specialty software solutions to assist firms in managing external and internal reference data, which is the semistatic data that describes the attributes of a security, customer, transaction, or position. Since 2003, a number of the acquisitions and entrances have altered the list of vendors in this market, and TowerGroup believes this activity will continue as small players are acquired and more vendors enter the market. This TowerGroup Research Note analyzes the vendors providing software solutions for managing reference data to securities firms.
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