The Market Group - Sapient Global Markets Appointed to Construct the European DataWarehouse

LONDON, November 1, 2011 -

The Market Group is pleased to announce today that Sapient Global Markets has been appointed as the constructor of the European DataWarehouse (ED). ED will be the first European central data repository owned and operated by the market for the market, with the unique feature of being endorsed by the Eurosystem. Once constructed, ED will process, verify and transmit data for the benefit of originators, investors, data providers and other interested parties. It is intended that ED will be launched and fully operational by the end of summer next year.

The appointment of Sapient Global Markets follows a comprehensive selection process that started in April with the Market Group’s issuance of a Request for Information (RfI) in response to which more than 50 organisations from around the world expressed an interest in participating. After a comprehensive and diligent review process, the top six firms and consortia who responded to the RfI were invited to participate in a more detailed Request for Proposals (RfP) process at the end of May, following which Sapient Global Markets was selected as the best candidate to be ED’s constructor.

Paul Burdell, secretary of the Market Group, said:

“We are very pleased to have selected Sapient Global Markets to build ED and are looking forward to working with them on this important and innovative project. Sapient Global Markets have demonstrated that they have the range of capabilities, from design to implementation, and experience required to be ED’s constructor. They have a proven track record of creating database systems capable of managing and distributing large volumes of ABS data.”

Fernando Gonzalez, the head of the Risk Strategy Section of the ECB Risk Management Office and Chairman of the ECB ABS Loan-level Initiative added:

“The market led appointment of Sapient Global Markets to construct an independently managed European DataWarehouse to store and verify ABS loan-level data represents a significant step towards the ECB’s aim of increasing transparency and disclosure standards in the European ABS markets. ED will ensure that market participants have access to timely and consistent information on the loans underlying ABS transactions and their performance.”

Chip Register, head of Sapient Global Markets went on to say:

“ED is part of an important ongoing initiative aimed at restoring investor confidence in the ABS markets through increased disclosure and transparency standards. This prestigious mandate builds on Sapient Global Markets’ expertise and experience designing and implementing solutions to address the complexities associated with structured finance portfolios. We are delighted to have been appointed as ED’s constructor following a competitive tender process.”

Notes to editors:

In December 2010, the Governing Council of the ECB announced its intention to establish loan-by-loan data requirements for ABS in the Eurosystem collateral framework, with the aim of improving transparency and helping to restore investor confidence in the European securitisation markets (the ABS Loan-level Initiative).

As part of the initiative, the ECB in April 2011 encouraged the creation of a data warehouse for the processing, verification and transmission of loan-level data by an independent constructor external to the Eurosystem. At the same time, the ECB President Jean-Claude Trichet invited market participants to lend their support to this important initiative.

An independent group of nine leading ABS investors and originators from across Europe called the “Market Group” was formed to oversee and advise in relation to the RfI and RfP processes to select a company to build ED.

Once constructed, ED will ensure that loan-level data is made available to market participants to increase transparency in relation to, and facilitate the risk assessment of, existing and future ABS transactions. Processes and software systems will be put in place that allow ABS originators to submit loan-level data to ED electronically, and the loan-level data will be checked for compliance with the specific ECB reporting templates as well as for consistency and timeliness.

About Sapient Global Markets:

Sapient Global Markets, a division of Sapient® (NASDAQ: SAPE), is a leading provider of services to today’s evolving financial and commodity markets. We provide a full range of capabilities to help our clients grow and enhance their businesses, create robust and transparent infrastructure, manage operating costs, and foster innovation throughout their organizations. We offer services across Advisory, Analytics, Technology, and Process, as well as unique methodologies in program management, technology development, and process outsourcing. Sapient Global Markets operates in key financial and commodity centers worldwide, including Boston, Chicago, Houston, New York, Calgary, Toronto, London, Amsterdam, Düsseldorf, Geneva, Munich, Zurich, and Singapore, as well as in large technology development and operations outsourcing centers in Bangalore, Delhi, and Noida, India. For more information, visit www.sapientglobalmarkets.com. Sapient is a registered service mark of Sapient Corporation.

For further information please contact:

The Market Group
Paul D Burdell (CEO of Link Financial, Secretary of the Market Group)
t: +44(0)207-793-2650
paulburdell@themarketgroup.eu

MHP Communications
Andrew Jaques
Ian Payne
t: +44(0)203-128-8100

Sapient Global Markets
Clare Anderson
t: +1-212-560-5764
canderson@sapient.com

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