Fitch Ratings has selected and implemented LakeFrontData’s Reference Data Factory (RDF) for its securities reference data management platform. The selection of RDF is part of its service oriented architecture (SOA) approach to IT, the ratings agency says.

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Morningstar, a provider of independent investment research, has completed its acquisition of Standard & Poor’s fund data business, a division of The McGraw-Hill Companies, for $55 million in cash, subject to post-closing adjustments. Standard & Poor’s says it has decided to focus its resources on developing its fund ratings business, in which it forecasts future performance on some 2200 funds globally. Access to fund data to support its fund ratings business will be licensed back from Morningstar as part of the arrangement.