SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced the availability of the SmartStream Data Dictionary, a new service providing a structured information portal for all exchange and data provider documentation.
The Data Dictionary is part of the SmartStream Reference Data Service, available as a standalone solution for firms looking to standardise, quantify and accelerate the translation of documentation. It simplifies the process of integrating new data providers and feeds into the client’s environment and improves data quality by reviewing, researching and verifying vendor feed documentation to ensure complete accuracy.
As a result, the SmartStream Data Dictionary eases the pain of intricate documentation analysis by organising the information in logical categories, and making them viewable through a web interface. It also enables firms to lower costs by removing the need for dedicated in house teams that update and refine the data definitions.
Philippe Chambadal, CEO of SmartStream, commented: “The cost of building and maintaining a data dictionary internally requires a substantial investment in resources, both in terms of capital and time. It also creates a significant operational overhead due to the ongoing upkeep required to collate, verify and maintain the data definitions. SmartStream's service-based approach removes this cost and uncertainty around staffing by ensuring definition information is always available, with clients only paying when they need to use the information. As a result, firms not only receive better quality data and achieve their global coverage requirements but do so at a fraction of the cost compared to managing it internally.”