The data management industry is looking to standardize, add reliability and gain efficiency in the way it manages its data. Delays resulting from the way data is pulled from the market, variables in how it is presented and inconsistencies in the processing, all culminate towards the irregularities seen across the data value chain. Individual firms are looking to execute on their data governance policies, to achieve a complete, accurate and timely supply of information to support their business decision making, facilitate regulatory compliance and enable straight-through-processing. Many firms are looking for an alternative way to resolving data processing issues without having to reinvest in legacy technology and infrastructure when previous investments had not resolved common market issues present in their data.
Established as the first industry utility, based on the principals of market commonality, collaboration and contribution, The SmartStream Reference Data Utility (RDU) delivers a data service to realize the truth of the data contained within the industry with results guaranteed. Managing data holistically, across legal entity, security, instrument, corporate action and pricing data, this shared service model promotes common fixes to data processing across the instrument lifecycle and the events that originate and change data.
By centralising data processing onto the RDU, common market processes can be incorporated across all participants to minimise the effort required to get the data right. The RDU acts as a processing agent for its participants selected data sources, to manage their complete data lifecycle, incorporating the sourcing, validation, enrichment and cross-referencing of data. Cleansing best practices, which are applied, continually evolve through the network effect of data processing mutualization to achieve the highest possible data quality and timeliness. This approach allows participating clients to realize guarantees that their data is fit-for-purpose and consistent.
Participants’ data governance policies are enabled across all financial markets and asset types through streamlined mechanisms for data consumption from one multi-tenanted, auditable environment that supports customized integration standards and controls. The process is supported by an experienced global team who operate under the compliance frameworks of the client base. This approach assures the readiness of both pre-market open and intra-day processes that supports today’s largest financial services trading firms.