Reference data management costs firms huge sums of money but offers no business differentiation. However, the cost of using bad data is huge and with the regulatory environment set to become even more stringent, the overheads associated with maintaining reference data will only continue to rise.
The DClear Reference Data Management Utility offers a cost-effective alternative through an industry venue that provides integration and cleansing of data sources, with rules-based processing providing integrity checks on all incoming data. It aggregates, reconciles and monitors the agreed aspects of clients’ reference data at an individual data field level.
As a result, the DClear Reference Data Management Utility creates a single, standardised approach to data management that delivers:
- Fewer trade breaks, lowering the cost-per-trade – clean and consistent data, integrated across all assets, entities and instructions
- Increased transparency, reducing risk – a unique cross-reference across all identifiers for the same base instrument and legal entity, enabling organisations to aggregate based upon a common coding reference
- More effective, customer-centric operations – data is constantly managed on the client’s behalf ensuring accuracy, completeness and validity. This ensures no corporate action announcements are missed or a trades broken due to missing or un-timely data
- Increased processing efficiency – multiple subscription lists within its master database allow each business line to fine tune the shape and scope of the data that it wants to see
- Flexible approach to reference data management: new requirements can be delivered by re-configuring workflows rather than re-programming, reducing the time to market
