FiNETIK – Asia and Latin America – Market News Network

Asia and Latin America News Network focusing on Financial Markets, Energy, Environment, Commodity and Risk, Trading and Data Management

Reference Data Utilities Offer Cost Savings, but Challenges Remain DMS Review

Managed services and utilities can cut the cost of reference data, but to be truly effective managed services must be more flexible and utilities must address issues of data access and security.

A panel session led by A-Team Group editor-in-chief Andrew Delaney at the A-Team Group Data Management Summit in London set out to discover the advantages and challenges of managed services and utilities, starting with a definition of these data models.

Martijn Groot, director at Euroclear, said: “A managed service lifts out existing technology and hands it over to the managed service provider, while a utility provides common services for many users.” Tom Dalglish, CTO, group data at UBS, added: “Managed services run data solutions for us and utilities manage data for themselves.”

Based on these definitions, the panellists considered how and why managed services and utilities are developing. Dalglish commented: “We need to move away from all doing the same things with data. Managed business process outsourcing services are well understood, but utilities present more challenges – will they be run as monopolies and make data difficult to access, what is the vendor interest?” Steve Cheng, global head of data management at Rimes Technologies, added: “The market has moved on from lift outs. New technologies mean managed services can be more flexible than outsourcing.”

It is not only the nature of available services that is driving financial firms to third-party providers, but also cost and regulation, both of which are high on the agenda. Jonathan Clark, group head of financial services at Tech Mahindra, explained: “Cost is significant, but regulation is the number one issue. Regulations require more holistic and high quality data and that is high cost for firms, so they are trying to get data quality at a reasonable price point.”

Dalglish focussed on cost, saying: “The business case is about money. Large companies have lost the ability to change, a utility can help to reduce costs. Banks are looking at these data models to regain efficiencies they have lost internally and are difficult to rebuild.”

Cheng described the reference data utility model as being more like the satellite television model than water or electricity models, and noted that Rimes’ experience of customers is that they want to innovate, but not allow their cost base to increase.

While consensus among the panellists was that managed services and utilities can provide cost savings, they also agreed that it is not the cost of data, but the infrastructure, sources, services and people around the data that rack up the cost to an extent that is leading firms to seek lower cost solutions. Firms that opt to use a data utility can convert capital costs to expenditure and chip away at elements such as multiple data sources.

Dalglish commented: “If you can achieve savings of 30% to 35% that is good, but this is a conservative estimate and it should be possible to save more going forward.” Cheng added: “The rule of thumb is that for every £1 spent on data licences, £2 or £3 is spent on infrastructure and staff. The need is to identify those hidden costs so that the use of a managed service or utility can be justified.”

Returning to the pressure of regulation, Delaney asked the panel whether managed reference data services and utilities would be regulated in the same way as banks. While this is not happening at the moment, some panel members expect it to happen and warn that utilities may find a way around regulation by using disclaimers. Cheng said: “Forthcoming regulations are very prescriptive about data models and regulators may look at the whole data chain. This means utilities and managed services may in future be subject to the same regulatory requirements as other market participants.”

The concept of managed services and utilities is not new. Dalglish recalled an effort to set up a utility that did not take off back in 2005 and said that the moment has now come for utilities as the technology stack has improved, data is better understood and this is a good time for competition and collaboration in the market. Groot added: “Data delivery mechanisms have changed, the bar has been raised on projects and the business case for an internal service is difficult, making external services attractive.” Panellists also noted technologies such as the Internet and cloud facilitating mass customisation, and the benefit of utilities that are built for a single purpose.

With so much to offer, Delaney questioned the panel on what type of organisations will benefit from third-party utilities. Panel members said both large and small firms could benefit, with large companies reducing today’s massive data costs and small firms being able to hand off non-core reference data services. Clark added: “Firms that can benefit most are those that find it difficult to discover the cost of data, perhaps because it is managed in different departments or geographic regions. But these firms are also the hardest to convert because they don’t know their costs.”

A question from the audience about defining reference data, making it open and putting it in a utility for all to use, met a consensus response from panel members who said it is a great idea, but will not happen because there are too many vendors with vested interests in the market.

Closing with a blue skies scenario, Delaney asked how far the utility concept could go. Groot concluded: “There is a need for operational procedures and recovery planning, but utilities could go a long way as there is a lot of data in scope.”

Source: Reference Data Review, 08.10.2013.

Filed under: Data Management, Data Vendor, Reference Data, Standards, , , , ,

Deutsche Börse exclusive licensor of BSE (Bombay Stock Exchange) market data to international clients

Deutsche Börse will be exclusive licensor of BSE market data to international clients New partnership gives market participants easier access to market data and information products of both exchange groups Deutsche Börse Market Data + Services and BSE today announced a partnership under which Deutsche Börse will act as the exclusive licensor of BSE market data and information products to all international clients. The new cooperation will benefit existing and potential customers by giving them access to both exchanges’ market data products under a single license agreement. A signing ceremony was held in Frankfurt on 2 October 2013.

The partnership also allows Deutsche Börse to deepen its client service capabilities in important Asian markets such as India, as well as strengthen the strategic alliance between the two exchanges.

“By partnering with BSE we give customers access to the full suite of real-time, delayed and end-of-day data products offered by both exchanges under a single license agreement. This approach meets clients’ market data needs while reducing their administrative requirements and increasing overall efficiency,” said Georg Gross, Head of Front Office Data + Services, Deutsche Börse.

“BSE is once again happy to partner with Deutsche Börse as this will enhance BSE’s visibility with international clients in the area of market data and information products. BSE will also get access to the innovative product development expertise of Deutsche Börse, which shall help BSE to provide an improved customer experience,” said Balasubramaniam Venkataramani, Chief Business Officer, BSE Ltd.

Under the new cooperation, Deutsche Börse will be responsible for sales and marketing of all BSE market data products to customers outside of India, while BSE continues to serve its domestic clients. Deutsche Börse will also share joint responsibility for product development and innovation, which includes extending its existing and the creation of new market data solutions and infrastructure to support BSE’s product offerings.

Products covered under the cooperation agreement include Real-time, Delayed and End-of-day data for BSE’s Equity and Derivatives markets, corporate data such as Results, Announcements, Shareholding Patterns and Corporate Actions as well as Real-time and Delayed Indices.

This market data agreement also further strengthens the cooperation between Deutsche Börse and BSE that began earlier this year. In March 2013, the two exchanges announced a long-term technology partnership in which BSE will deploy Deutsche Börse Group’s trading infrastructure.

Source: Bobsguide, 07.10.2013

Filed under: Data Management, Data Vendor, Exchanges, India, Market Data, , , , , , , , , ,

NYSE Launches Data-as-a-Service

NYSE Technologies, the commercial technology division of NYSE Euronext (NYX) and First Derivatives, a provider of software and consulting services to the capital markets industry, are collaborating to create a new suite of historical data ‘as a service’ solutions.

Combining NYSE Technologies’ historical and real-time data expertise covering cash, options, futures and corporate actions with First Derivatives’ products and market expertise, the Tick as a Service offering will build into a suite of innovative market services for clients to gain efficient access to large data stores for analytical back testing and compliance.

“By integrating First Derivatives’ suite of services with our diverse portfolio of technology solutions, including our consolidated feed service, we can offer comprehensive data collection, storage, and analysis ‘as a service’ to our entire global trading community,” said Jon Robson, CEO, NYSE Technologies. “This new service will allow participants to move from a client deployed to managed service for the storage, support and delivery of tick history infrastructure to back-test their algorithms and interrogate their data through a flexible, fully-managed solution.”

The Tick As A Service is the first of a number of historical data solutions NYSE will offer.

“Our collaboration with NYSE Technologies will deliver substantial benefits to clients – improving time to market while efficiently minimizing operational overhead and reducing costs,” said Brian Conlon, CEO, First Derivatives. “I am delighted that First Derivatives is forging a relationship with one of the most capable service providers in the global capital markets community who understand that the community needs managed solutions to address commoditized services and thus release capital for differentiating opportunities.”

NYSE Technologies offers a diverse array of products and services to the buy side including order routing, liquidity discovery and access to a community of over 630 broker-dealers and execution destinations globally; and to the sell side, including high-performance, end-to-end messaging software and market data products; and market venues and exchanges, including multi-asset exchange platform services, managed services and expert consultancy.

NYSE Technologies’ technology portfolio includes a broad array of real-time, historical and reference data alongside the capital markets community cloud, a hosted consolidated feed service (SuperFeed), and one of the world’s largest FIX-based order routing networks (Marketplace), all available across the Secure Financial Transactions Infrastructure (SFTI) network.

First Derivative’s flagship Delta suite of products include Delta Flow, Delta Data Factory, Delta Algo, Delta Margin and Delta Stream which are used in high volume, low latency environments. Combining key elements of each company’s product sets and unique functionality, NYSE Technologies and First Derivatives will develop a one-of-a-kind solution delivering an innovative suite of high-performance services that enhance real-time trading, CEP, market data and trading applications.

Source: NYSE Tech, 18.09.2013

Filed under: Data Management, Data Vendor, Market Data, , , , , , , ,

Reference Data: Tech Mahindra Details Global Data Utility Based on Acquired UBS Platform

Tech Mahindra, a business process outsourcing specialist and parent of London-based investment management technology consultancy Citisoft, has repositioned a reference data platform acquired from UBS Global Asset Management to offer an offshore reference data utility aimed at meeting market demand for lower cost, high quality data that can reduce risk and increase efficiency.

The global data utility has been introduced under the Tech Mahindra Managed Data Services brand and offers securities reference data across all asset types, reference data for corporate actions, tax information and end-of-day and intra-day validated pricing data. The utility handles data cleansing and validation, with clients buying licences to access the data.

Tech Mahindra suggests the utility differs from other offerings in the enterprise data management market as it is owned by the company and can be developed. It is also agnostic on data feeds, including 20 from vendors including SIX, Markit, Bloomberg, Thomson Reuters and DTCC.

The company’s first customer is UBS Fund Services in Luxembourg. Under the terms of a five-year services contract with UBS, Tech Mahindra will create and store golden copy data and provide multiple intra-day golden copies to the asset manager. As part of the acquisition and customer deal, Tech Mahindra, which is headquartered in Hyderabad, India, will take on some staff from UBS Global Asset Management who were working on the platform in Luxembourg, but most staff will be located in India.

As a repositioned platform, Tech Mahindra MDS already covers all time zones, markets and asset types, updates 2.5 million issuers on a daily base, receives 200,000 customer price requests and validates 75,000 prices. Some 20,000 corporate actions are checked every day, along with 1,800 tax figures. Looking forward, Tech Mahindra plans to extend these metrics and add reference data around indices and benchmarks, legal entity identifiers and clients.

While Tech Mahindra will lead sales of the service to the banking, financial services and insurance sectors, Citisoft will be able to provide consultancy as necessary. Steve Young, CEO of Citisoft, says Tech Mahindra MDS has been designed to improve data quality and drive down the total cost of data ownership, in turn reducing risk and increasing efficiency. To manage clients’ cost issues, the company has built a toolkit into the data management system that allows users to analyse the cost of owning data, including people, processes and technology. Data quality will be underpinned by service level agreements and key performance indicators will be added as more clients sign up for services and data volumes grow.

Reflecting on the data challenges faced by financial firms, Citisoft Group CEO Jonathan Clark, concludes: “Outsourcing models have evolved over time and attitudes are changing as firms acknowledge that there is a big difference between outsourcing and offshoring, and that captive outsourcing is not an efficient approach. The need is for a commercial relationship with a centralised data utility that can deliver high-quality, accurate data and a lower total cost of ownership.”

Source: Reference Data Review, 24.07.2013

Filed under: Corporate Action, Data Management, Data Vendor, Market Data, Reference Data, Standards, , , , , , , , , , , , , , , , ,

LEI-Dealing with Reality – How to Ensure Data Quality in the Changing Entity Identifier Landscape

“The Global LEI will be a marathon, not a sprint” is a phrase heard more than once during our series of Hot Topic webinars that’s charted the emergence of a standard identifier for entity data. Doubtless, it will be heard again.

But if we’re not exactly sprinting, we are moving pretty swiftly. Every time I think there’s nothing more to say on the topic, there is – well – more to say. With the artifice of the March ‘launch date’ behind us, it’s time to deal with reality. And the reality practitioners are having to deal with is one that’s changing rapidly.

Down load full and detailed report.

LEI-Dealing_with_reality-how_to_ensure_data_quality with Entity Identifiers_06_13.pdf

Source: A-Team, 26.06,2013

Filed under: Data Management, Data Vendor, Library, Reference Data, Standards, , , , , , , , , , , , , , ,

Valuations – Toward On-Demand Evaluated Pricing

Risk and regulatory imperatives are demanding access to the latest portfolio information, placing new pressures on the pricing and valuation function. And the front office increasingly wants up-to-date valuations of hard-to-price securities.

These developments are driving a push toward on-demand evaluated pricing capabilities, with pricing teams seeking to provide access to valuations at higher frequency of update than before.

Download this special report for FREE now! Click the link below.

Source: A-Team, 26.06.2013

Filed under: Data Vendor, Library, Market Data, Reference Data, , , , , , , ,

Thomson Reuters Outlines Plans to Lighten the Burden of Symbology

Thomson Reuters has set out its store on symbology saying it does not support the promotion of new identifiers as a means of improving data management, but is keen to support industry standards and has plans to offer services such as symbology cross-referencing to ease the burden on data managers.

The company documents the development of symbology, its use and complexity in a white paper authored by Jason du Preez, head of symbology services at Thomson Reuters, and entitled ‘Solving for Symbology Discord, the Identity Challenge’.

Thomson Reuters set up a symbology business last year and published the white paper to acknowledge the importance of symbology and recognise its challenges. Du Preez says: “We don’t believe there is a silver bullet that will answer the problems of symbology. Innovative new products continue to exacerbate the problem and that is not going to change. We can, using our core competencies, create linkages, invest to take on the burden of linking data sets, and maintain code mapping. And we can allow the market to make more use of our intellectual property.”

Du Preez cites licences introduced last summer to extend the use of the company’s proprietary Reuters Instrument Codes (RICs) in non real-time content, as well as its agreement in response to a European Commission antitrust investigation to extend the use of RICs in real-time consolidated data feeds, as moves to open up how RICs are licensed and make them more accessible across all asset classes.

Integration of RICs with Proprietary Identifiers

He says: “As there is no silver bullet, we will invest more in cross-referencing services and tie in quality of information. We will have interesting things to offer over the next 18 months.” Among these he lists the integration of RICs and proprietary identifiers, with firms submitting their codes to Thomson Reuters and the company playing them back as part of its own codes. Other broad cross-referencing services will be tailored to allow clients to access only required cross references and linkages.

“Thomson Reuters doesn’t promote a new code, there are enough out there already. We will continue to use existing codes and extract value from them; the key is linkages between market vendor codes and proprietary structures. While clients face regulatory and cost drivers, we will take care of linkages and cross referencing to improve the breadth and quality of client content.”

Thomson Reuters’ white paper details the development of symbology and notes the company’s intent, as described by du Preez. It starts by mentioning irregular incidents in the market that remind the industry of the challenges involved when an aggregated or consolidated view across positions is needed, including the incompatibility of core data symbols. The paper states: “The core elements: security identification, counterparty identification and price discovery, were never developed to work efficiently and effectively on an enterprise/global scale.”

Looking at the current state of symbology, the paper flags the fragmented identification methods resulting form the market’s approach to symbology, including data providers’ and data aggregators’ different means of identifying the various parts of securities or counterparties, as well as firms’ creation of proprietary identifiers to fill gaps in vendor provision. The paper reports: “[Symbology] is still a ‘cottage industry’ where the identification schemes put in place by one group are locally focused and usually limited to a specific slice of the securities market. This consumes resources: in many cases the task of mapping multiple sets of disjointed or partially overlapping symbols can consume as much (or more) development time and computing resource as programming the business logic itself.”

The paper reviews changes in the financial industry since 1993 that have complicated symbology and notes the increasing difficulty, yet increasing need, to integrate information across a firm’s complete range of trading businesses to achieve effective risk management. On the flip side, it points to the parallel need to analyse rapidly growing stores of information and connect increasingly diverse datasets to find relevant information in the quest for alpha. It states: “The sophistication of the methods we employ to aggregate, rationalise and navigate information bears a direct relationship to the size of the lead a firm can have in the financial marketplace.”

How to Unambiguously Identify Information

While the outcome of linking and navigating information can be positive, it presents significant challenges as a lack of consistent and comprehensive global industry standards means firms must maintain symbology cross references, a difficult and often flawed task, particularly in banks with many different trade and compliance-related systems. Du Preez writes: “A popular approach is ‘we can build an adaptor’. Adaptors have become some of the most complex processes in banking technology. That is not data management. It is trying not to get eaten by the alligators.” He goes on to surmise: “Data managers do not want to deal with these problems – they ultimately want services they can reliably use to unambiguously identify information.”

Enter Thomson Reuters with its vision of how to resolve these problems. “We believe that these linkages are the key to enormous untapped value. Being able to enter the data model through any entity identifier (quote, security or legal entity) and easily navigate and explore all the linkages between related entities not only puts a firm in control of its risk position, but also creates a window into opportunities. Industry standards have a significant part to play as they provide a universal start and end point; Thomson Reuters is a strong supporter of symbology standards in the data industry and we will be first in line to adopt and link industry standard identifiers to our content sets.”

The report discusses the challenges propagated by the use of multiple symbologies and the workload associated with the maintenance of cross reference tables in local security master databases. It touches on Thomson Reuters’ plans to provide cross reference services centrally and leverage its core competencies and infrastructure to ease the burden on institutions that have traditionally solved the problems themselves.

It states: “Cross referencing is a reality that cannot be avoided – we aim to make this as accurate and cost-effective as possible for our customers. We also understand that while symbology is an important part of the picture, translation and synchronisation services will also play a critical part. The need for these services is evidenced by the burgeoning desire of the market to offload these onerous data management functions to specialist providers.” The report concludes: “Thomson Reuters is investing now to continue to expose the growing capabilities of its data management infrastructure and ensure that structured and unstructured data come together in a rich tapestry of knowledge with the aim of maximizing utility to trading algorithms, research, analysis and information discovery.”

Source: A-Team Reference Data Review, 26.03.2013

Filed under: Data Management, Data Vendor, Reference Data, Standards, , , , , , , ,

Outsourcing Reference Data Management: Cost Reduction and New Revenue Opportunities

The past 12 months has seen the emergence of new players offering Business Process Outsourcing (BPO) services for Reference Data Management. These new arrivals expand the range of options available to financial institutions for addressing the challenges of regulatory compliance, operational cost reduction and scalability.

But BPO has other benefits, and innovative adopters have benefited from using the model to create new value-added services. By catering to clients’ data management needs, these players have been able to transform what’s traditionally been considered a cost centre into a new and significant source of revenue.

This paper – from AIM Software – explores this exciting new trend, and describes how an established financial institution took advantage of BPO to turn its enterprise data management initiative into a new source of revenue and business growth.

Download the White Paper Now to Find Out More

Source: A-Team, March 2013

Filed under: Corporate Action, Data Management, Data Vendor, Library, Market Data, Reference Data, Standards, , , , , , , , , , , , , , ,

SIX Financial Information and LUZ Engenharia Financeira in strategic cooperation in Brazil

Zurich, Switzerland – SIX Financial Information and LUZ Engenharia Financeira, the largest provider of risk management software and consulting services to buy- and sell-side institutions in Brazil, have established a strategic relationship to meet the growing need for broader and deeper international financial market data in Brazil.

As Brazil’s investment community increasingly turns to foreign markets to achieve superior returns, reliable, high quality pricing and reference data becomes more important every day. SIX Financial Information, a leading provider of global financial information since 1930, will fill that need for clients of LUZ Engenharia Financeira.

Edivar Vilela Queiroz, CEO of LUZ Engenharia Financeira commented, “While the Brazilian financial services community has been well served by local data providers, SIX Financial Information has the breadth and depth of global market data to support current needs as well as the capacity to grow as our local market evolves.” He continued, “And as the world’s markets become ever more connected and transparent, this is an important differentiator that will allow seamless growth into offshore markets.”

“As Brazil becomes a major force in the global financial markets, foreign investors will undoubtedly continue their steadily increasing interest in the Brazilian markets and help foster even more growth,” said Barry Raskin, Managing Director for SIX Financial Information USA. “We are excited to extend our focus to this vibrant market, and very pleased that LUZ-EF has given us their stamp of approval through this strategic partnership.”

On Wednesday, March 13 2013, SIX Financial Information and LUZ-EF will jointly host a client event in São Paulo where they will formally announce their partnership and describe the international equity and options pricing and reference data available through the LUZ-EF platform.

Source: SIX Financial Information, 12.03.2012

Filed under: Brazil, Data Management, Data Vendor, Reference Data, , , , , , , ,

GFI Group to Supply Market Data to Mexico’s PiP LATAM

GFI Market Data, a division of GFI Group Inc. (NYSE:”GFIG”) announced today that it has signed an agreement with Mexico’s Proveedor Integral de Precios “PiP” under which GFI Market Data will become an official price contributor to PiP’s eurobond pricing and curve calculations.

PiP started operations in the year 2000 and was the first price vendor company authorized by the Mexican Securities Commission (CNBV) to provide prices for the valuation of financial assets. They currently have operations in Mexico, Peru, Colombia, Panama and Costa Rica.

Francesco Cicero, Head of eTrading at GFI Group said: “We are very happy to be working with PiP and to be able to supply them and their clients with an independent view of the eurobond markets derived from our highly experienced brokers as well as from our premier electronic trading screen for fixed income, GFI CreditMatch®”.

PiP distributes official closing prices via its PiP- Latam© system.

GFI Market Data provides real bid and offer prices and spreads for a broad range of instruments including asset backed securities, corporate bonds, emerging market bonds, floating rate notes, high yield bonds and structured products. Sourced directly from GFI CreditMatch®, our award-winning electronic trading platform for bonds and fixed income derivatives GFI data reflects market sentiment rather than indications gleaned through aggregated pricing.

Source: Bobsguide 03.01.2013

Filed under: Colombia, Data Vendor, Latin America, Market Data, Mexico, Peru, , , , , , , , , , ,

Thomson Reuters to Open Up RICs for Consolidated Feeds Under EC Settlement

The European Commission has ended its lengthy enquiry into Thomson Reuters’ licensing policies for Reuters Instrument Codes (RICs), accepting commitments from the company that will create a more fluid market for real-time consolidated data feeds. The deal creates a new environment for Thomson Reuters as it finds itself competing in an increasingly open market.

The company welcomed the Commission’s decision – perhaps on the basis of the end of the enquiry rather than the commitments it must stick to – and was quick to point out that its new licensing commitment is consistent with the move it made in June 2012 to make RICS available foruse with non-real-time information in client and non-client financial institutions’ trade processing systems. At that time, Thomson Reuters’ then-Enterprise content chief Gerry Buggy, described the move as the “first step in supporting the financial community’s symbology needs across all parts of the trading life cycle through our evolving symbology services.”

The Commission made its decision to end the enquiry after accepting commitments put forward by Thomson Reuters in May 2012 that were then market tested with a third-party comment period running until August 2012. The commitments have been made legally binding, with the key outcomes being that Thomson Reuters’ customers can continue to use RICs in real-time applications after they have switched to an alternative real-time consolidated data feed provider and use RICs in combination with the alternative provider’s data.

Commenting on the Commission’s decision, Commission vice president of competition policy, Joaquin Almunia, says: “Information plays a key role in ensuring that financial markets operate in a healthy and efficient way. In order to correctly assess investment opportunities, market participants need to access accurate and timely financial data, for example through consolidated real-time data feeds. The commitments offered by Thomson Reuters will enhance competition in this market. Financial institutions that use RICs will now be able to switch to alternative providers more easily.”

Responding to the Commission’s decision to adopt Thomson Reuters’ commitments, David Craig, president of Financial & Risk at the company, says: “Following a detailed examination of the facts, the Commission accepted our proposal without any finding of infringement of EU competition law by Thomson Reuters. We now look forward to continuing to work with our customers to bring world-class, real-time data feed and symbology solutions to market.”

In essence, Thomson Reuters’ commitments allow customers to license additional RICs usage rights for the purpose of switching data vendors and to use RICs for retrieving data from other providers against a monthly licence fee. The company will also provide customers with the necessary information to map RICs to alternative symbology, and allow third parties to develop and maintain switching tools that allow RICs and rival services to interoperate by mapping RICs to the financial identifiers of other data feed providers. Third-party developers can use and keep RICs in their switching tools on payment of a monthly licence.

If the Commission’s decision is favourable for users of consolidated real-time data feeds, it must also be of great interest to their suppliers, with 2013 promising to be both a battleground and a peace mission as suppliers struggle to maintain market share while responding to market demand for more open symbology solutions.

Source: Reference Data Review, 20.12.2012

Filed under: Data Management, Data Vendor, Reference Data, , , , , , , ,

Nyse Technologies expands SFTI network in Asia

Nyse Technologies, the commercial technology division of Nyse Euronext, today announced the continuing expansion of its Secure Financial Transaction Infrastructure (SFTI) in Asia with the introduction of two access centres located in Hong Kong.

Customers now, for the first time, have direct access to the SFTI network, allowing them to connect from Hong Kong to services offered by NYSE Technologies through SFTI, including access to Hong Kong Exchanges & Clearing (HKEx), all major international trading venues, market data solutions, plus the NYSE Euronext capital markets community.

As part of the expansion of the SFTI network to include Hong Kong, NYSE has also extended SFTI to the new HKEx Data Centre colocation facility, giving customers there access to all the services available on SFTI through a simple cross connect to their colo racks. NYSE Technologies also plans to expand SFTI in the region to connect other markets like Australia and Korea.

NYSE Technologies’ Secure Financial Transaction Infrastructure provides access to a comprehensive range of capital markets products through a single point of access and offers low-latency trading access to the NYSE Liffe and NYSE Euronext markets. SFTI Asia is the most recent extension of the global backbone, enabling Asian firms to receive market data and trade on multiple markets. Designed to be the industry’s most secure and resilient network, SFTI is specifically built for electronic trading and market data traffic thus enabling firms to reduce their time-to-market, improve their performance and significantly lower the cost of their trading infrastructure. Furthermore, the global backbone allows customers to connect to their trading infrastructure distributed in financial centres around the world using a SFTI connection on the other side of the world.

“The addition of these important access centres in Hong Kong is a further step in the expansion of NYSE Technologies’ footprint and reach of the SFTI Asia network and adds to our established presence in Singapore and Tokyo.” Daniel Burgin, Head of Asia Pacific, NYSE Technologies, commented. “Offering multiple access centres in the Asia Pacific region allows them to use SFTI Asia to connect to regional and global exchanges and markets in a cost effective way through a single connection at each of the client’s locations around the region. This eliminates the overheads and costs associated with maintaining separate network connections in each location to multiple trading venues.”

Source: NYSE Technology 06.12.2012

Filed under: Australia, China, Data Management, Data Vendor, Exchanges, Hong Kong, Japan, Korea, Market Data, News, Singapore, , , , , , , , , , , , , ,

Capco Proposes the Creation of a Data Culture to Advance Data Management RDR

Financial firms are falling short on data management issues such as calculating the true cost of data, identifying the operational cost savings of improved data management and embracing social media data, but according to research by consultancy Capco, these issues can be resolved with a cross-organisational and practical approach to data management and the development of a data culture.

The business and technology consultancy’s report – ‘Why and how should you stop being an organisation that manages data and become a data management organisation’ – is based on interviews with towards 100 senior executives at European financial institutions. It considers the many approaches to data management across the industry and within individual enterprises, as well as the need to rethink data management. It states: “There is one certainty: data and its effective management can no longer be ignored.”

The report suggests an effective data management culture will include agreed best practices that are known to a whole organisation and leadership provided by a chief data officer (CDO) with a voice at board level and control of data management strategy and operational implementation.

For details on the report click here

Turning the situation around and attaching practical solutions to the data management vision of an all-encompassing data culture, Capco lists regulatory compliance, risk management, revenue increase, innovation and cost reduction as operational areas where good data management can have a measurable and positive effect on profit and loss.

Setting out how an organisation can create an effective data culture, Capco notes the need to change from being an organisation that is obliged to do a certain amount of data management, to a mandated and empowered data management organisation in which data has ongoing recognition as a key primary source. The report concludes: “Every organisation has the potential, as well as the need, to become a true data management organisation. However, the journey needs to begin now.”

Source: Reference Data Review, 24.10.2012

Filed under: Corporate Action, Data Management, Data Vendor, Market Data, Reference Data, Standards, , , , , , , , , , ,

News and updates on LEI standard progress and development

As a follow up on G20 acceptance in Los Cabos in July 2012 and the Financial Stability Board guidelines and recommendations of the Legal Entity Identifier  LEI, we will regularly update this post with news and article to provide an overview of  LEI standard progress and development.

 
First Published  13.07.2012 , Last Update 27.09.2012

Filed under: Data Management, Data Vendor, Reference Data, Standards, , , , , , , , , , , , , , , , , , , ,

Nyse Technologies, Bolsa Mexicana and ATG build Mexican trading infrastructure

Nyse Technologies, the commercial technology division of Nyse Euronext (NYX: NYX) today announced that in collaboration with Bolsa Mexicana de Valores (BMV) and Americas Trading Group (ATG) it has built and deployed a state-of-the-art trading infrastructure complete with global connectivity, risk management functionality and direct market data distribution for customers trading in Mexican markets.

Designed to support the launch of Bolsa Mexicana’s new matching engine and midpoint hidden order book, this solution incorporates advanced technology developed specifically for every part of the trade cycle to provide unprecedented accessibility, performance and risk management for trading on Bolsa Mexicana’s exchanges with the aim of establishing Mexico as a premier Latin American investment destination.

Initially, this collaboration will provide:
• A new co-location model for access to cash and derivatives markets (through ATG directly at the KIO Data Center)
• Global connectivity for buy side, sell side and vendors from the US, Europe, Asia and also other Latin American markets such as Brazil and Chile.
• Sophisticated risk management functionality for international order routing (solution implemented by NYSE Technologies)
• Low touch order stamping by Bolsa Mexicana’s members to settle orders
• Global Market Data distribution via NYSE Technologies Secure Financial Transaction Infrastructure (SFTI) with direct contracting with BMV

“We are excited to again work with one of Latin America’s leading market operators in Bolsa Mexicana and market participants in ATG to deliver dramatic improvements across critical elements of the trade cycle,” said Dominique Cerruti, NYSE Technologies. “By continuing to improve access to key Latin American exchanges and customers, we continue to realize our vision of creating a global capital markets community with cutting-edge connectivity, performance and risk management.”

“Today’s announcement with NYSE Technologies and ATG demonstrates our ongoing commitment to grow and enhance our markets in Mexico to deliver highly flexible multi-market, multi-asset trading,” said Jorge Alegria, Head of Market Operations, Bolsa Mexicana de Valores. “We look forward to extending our relationship and cooperation with NYSE Technologies in several important areas that will f further expand that growth and performance in the near future.”

Source: FinExtra, 18.10.2012

Filed under: Asia, BMV - Mexico, Chile, Colombia, Data Management, Data Vendor, Latin America, Market Data, Mexico, Risk Management, Trading Technology, , , , , , , , , , , , , , ,

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