The EDM Council is a not-for-profit business forum for financial institutions on topics related to Enterprise Data Management

Enterprise Data Management

Enterprise Data Management or EDM is:#A concept – referring to the ability of an organization to precisely define, easily integrate and effectively retrieve data for both internal applications and external communication....

. It was created to enable senior officers responsible for data management to share information on the business strategies and practical implementation realities associated with effectively managing data assets on an enterprise-wide basis.

Objectives

The Council has three core objectives:

1. Global EDM Meeting Ground: Provide an efficient mechanism for members to meet and interact with their peers as well as be an advocate for the objectives of EDM in both public and private forums;
2. Best Practices for EDM Implementation: Collect metrics, conduct research and document successful approaches/best practices to support the EDM execution objectives of members as they make the transition from managing data content on a business/data-silo (vertical) to an enterprise-wide (horizontal) basis; and
3. Manage the EDM Supply Chain: Specify requirements to external suppliers (data manufacturing and commercial objectives) and implement the core identification standards necessary to integrate data content into applications, report to business units/regulators and efficiently exchange data among counterparties (symbology, taxonomy and classification objectives).

EDM Council establishment

The EDM Council was founded in 2005 by IBM

IBM

International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...

, SunGard

SunGard

SunGard is a multinational company based in Wayne, Pennsylvania, which provides software and services to education, financial services, and public sector organizations. It was formed in 1983, as a spin-off of the computer services division of Sun Oil Company, during a period of low crude oil...

, and GoldenSource

GoldenSource

GoldenSource Corporation, formerly known as "Financial Technologies International," is a global software company in the Enterprise Data Management industry, founded in 1984 and headquartered in New York, NY, United States, with offices in London, England, Mumbai, India, and Hong Kong.-Products...

. Formed by over 20 C-level executives from corporate and investment banks, asset management companies, securities services firms and industry vendors, the Council is designed to create, enhance and sustain awareness of EDM as an urgent priority for the financial services industry

External links

• EDM Council
• EDM's Semantics Repository "The goal of the EDM Councils Semantics Repository is to standardize the terms and definitions of all reference data attributes stored in the master files of financial institutions and passed among supply chain partners"
• IBM
• SunGard
• GoldenSource