Our Approach

The Capital Markets are data driven. The financial products that we trade are very rarely physical. They are defined by data, held in a database and traded by moving them from one database to another, transferring ownership electronically between individuals, firms and geographies. So, given how critically important it is to have precise definitions of the financial products that you are trading, why is it so hard to source and maintain a complete, accurate and timely set of security reference data to underpin your business?

Across the industry, financial institutions spend hundreds of millions of dollars sourcing, aggregating, validating, gap filling, correcting and maintaining securities reference data, often ineffectively and often manually. Every organisation does this. The duplication across the industry is horrendous.

The impact of poor quality data is even worse. In today’s highly automated businesses, with massive trading volumes, firms are constantly dealing with trading breaks, process exceptions and clearing / settlement issues. The investigations and the manual reprocessing are very costly, but the real impacts are the trading losses, the reputational damage and regulatory risk.

The Reference Data Utility (RDU) transforms this landscape; delivering complete, accurate and timely securities reference data maintained to the highest quality standards using best practise processes built in collaboration with demanding global banks. The RDU combines a sophisticated data management platform with a 24*7 managed service staffed by reference data experts and delivers the data that you need to populate your security master before the start of the trading day. You no longer need to maintain fragile data loaders, complex aggregation rules or fluid data transformations. You no longer need to obsess about vendor or exchange feed change notifications. Let the RDU make the complex easy by sourcing, aggregating, quality checking and where necessary customising the data for you.

Transform your business today with complete, accurate and timely security master data from the RDU, the reference data specialists.

Why is it so hard to maintain a precise security master?

  • Data standards are not precise enough
  • Data originates from 1000’s of different sources, exchanges, issuers, bi-lateral counter-parties
  • Different identifiers are used across financial products
  • Attributes are represented differently
  • Classification schemes vary considerably
  • Different identifiers are used for market participants whether they are legal entities or individuals
  • Data is fluid with frequent new issues, contracts expiring and constant corporate actions
  • No single data source is good enough

The RDU offers:

  • The best Futures and Options reference data on the market sourced from 100+ exchanges with extensive attribute coverage at both product and contract level; fully cross-referenced with all key market identifiers; fully maintained underliers and demonstrably better data quality
  • Vendor sourced Equities, fully cross-referenced with all key market identifiers and with corporate actions reliably applied by the start of the trading day
  • Vendor sourced Fixed Income, with the full cross-reference and corporate actions reliably applied will be available in early 2020
  • A full MIFID II regulatory data set to support pre-trade price transparency, post-trade reporting and transaction reporting; normalised to an instrument level for easy integration into the trade workflow; full support for OTC Derivatives with intra-day APIs; full support for ToTV; ANNA integration and integrated counterparty role determination (e.g. Central Bank, SI, MIF)
  • The Systematic Internaliser Registry, a unique data set sourced from 110+ Systematic Internalisers (SIs) in collaboration with the APA community that offers a highly granular listing of the services that SIs offer
  • A Securities Financing Transaction Reporting (SFTR) enrichment service that makes it easy to reliably add the securities reference data needed for your transaction reports