Equities are probably the most actively traded asset class globally, electronically traded with highly automated clearing and settlement processes essential to handle the volume. The quality of market data is generally high, but the volumes and high degree of automation mean that data related issues are still very costly and since the margins on Equity trading are very thin, avoiding issues wherever possible is critical. Data issues typically result from late application of corporate actions, poorly applied corporate actions, wrongly identified securities / listings and differences of interpretation of attributes between vendors.
The RDU overcomes these challenges by providing you with a consistent view of reference data across your choice of data vendors; a normalised set of attributes, in addition to the raw vendor formats; and a complete and reliable cross reference of security / listing identifiers so that you and your customers can unambiguously identify the correct financial product to trade. The RDU also ensures that corporate actions are applied effectively by the start of the trading day.
The RDU offers a unique combination of vendor sourced data:
- A single schema of normalized Equity reference data across multiple market data vendors
- Both normalised and raw vendor data are available, allowing simple arbitration across sources and full vendor compatibility where necessary
- A complete unambiguous cross-reference covering key market and vendor identifiers
- A range of enrichment sources are available and can be added on demand significantly enhancing vendor sources
- Monitoring of corporate actions and validation to ensure that the corporate actions have been correctly applied to the reference data by the start of the trading day
- An intuitive User Interface offers simple access to the universe of data and its lineage
- A robust data quality program with automated exceptions management allows our operations team to ensure data is processed correctly, apply manual corrections where necessary and work with the vendor to correct the data at source
- 24 * 7 operations and customer support ensures that all queries and exceptions are handled promptly by expert staff
- Full handling of vendor and exchange feed change notifications, with changes applied promptly, minimising the impact and cost to you and your business
- Easy integration into your security master with file based delivery customised to meet your needs
- Easy integration directly in to your trade workflow with cloud based REST APIs
- A range of custom services including Business Process Outsourcing (BPO) is also available