Polaris has announced it is making progress towards establishing market level data standards for its suite of products as part of its imarket initiative.
Polaris claims it has benefited in its attempt to achieve an industry standard following co-operation with software houses, Acturis, Cheshire Data Systems Limited, insurE-com, Sectornet, Misys, Sirius and Software Solutions Partners.
Polaris Managing Director Martin McLachlan said: "Standards form a key element of the imarket initiative. It is vital that as the industry moves forward with internet based trading that we work from a common set of technical standards."
Jason Potter, imarket steering group representative for Allianz Cornhill said: "The value of everyone working from an agreed set of data collection and message standards in their various systems implementations is significant. It enables rapid product build and distribution and reduces the cost of multiple IT implementations."
