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: 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

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

Interactive Data Asian ticker plants go live

Interactive Data Corporation, a leading global provider of managed ultra-low latency IT and market data services to facilitate electronic trading today announced that its ticker plants in Asia are now live.  Based in two data centres in Hong Kong, the new ticker plants offer a significant reduction in the latency of PlusFeed, Interactive Data’s low-latency, consolidated global data feed.

With increasing adoption of electronic trading in Asia, market data has become a crucial issue. Firms require high quality data at the desired speed from across the region. The new ticker plants, located with Pacnet at MEGA-iAdvantage and with Equinix in their HK1 facility, provide Interactive Data’s clients with lower latency access to Asian venues covered by PlusFeed, as well as to a wide range of additional international sources.

Interactive Data’s new low-latency co-location facilities in Hong Kong will also offer international clients the option to co-locate their applications alongside the ticker plants. This will enable them to obtain optimised low-latency delivery of Asian data via the Interactive Data sites in Hong Kong.

Emmanuel Doe, president, Trading Solutions Group for Interactive Data, said: “With the growth of electronic trading in Asia and higher data volumes globally, clients in Asian markets have an increasing need for cost-effective, real-time market data and delivery. We continue to expand our electronic trading services in Asia and elsewhere throughout the world to meet these requirements.”

Dan Videtto, managing director for Asia Pacific for Interactive Data, added: “The addition of two new ticker plants within one of the region’s primary trading hubs is a significant development. This is one of many enhancements that we will be delivering to Asian markets as we look to support firms in the region through our low latency data and global trading infrastructure solutions.”

Interactive Data’s PlusFeed delivers low-latency data from more than 450 sources worldwide, covering more than 140 exchanges and including multi-asset class instrument coverage and extensive Level 2 data. The feed is used by financial institutions globally to power algorithmic and electronic trading applications and is now supported by ticker plants located in Europe, the US and Asia.

In addition, clients can use the Interactive Data 7ticks network to gain direct market access (DMA), advanced co-location and proximity hosting to global direct exchange data, consolidated data, as well as reference and corporate actions data.

Direct or cross-connect access to a wide range of global exchanges is also available in Asia through Interactive Data’s Points of Presence (POPs) with leading global providers of data centers and technology services, including Equinix, Inc. (Nasdaq: EQIX), Interxion, Telex and KVH.

Source: Finextra, 27.06.2012

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

LEIs – Increasing Usability & Benefits of the New Standardised Identifier – IDC

The development of the standardised legal entity identifier (LEIs) is very much underway, but how can firms and market participants utilise this new identifier to improve internal data flow and risk monitoring processes whilst also meeting the regulatory reporting requirements?

Listen to the Podcast here

Moderator/ Speakers:
Julia Schieffer
– Founder, DerivSource.com
Chris Johnson – Head of Product Management, Market Data Services, HSBC Securities Services
Darren Marsh – European Business Manager, Risk Management and Compliance, Interactive Data

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

IDC White Paper: Solving Big Data’s Big Challenges Can Lead to Big Advantages

Solving Big Data’s Big Challenges Can Lead to Big Advantages

The volumes and complexity of market data required by financial institutions today are immense and growing rapidly. Ongoing market changes are accelerating the growth in demand for data, and forcing financial institutions to address the challenges of what has come to be known as “Big Data”. This demand is fueled as firms develop and deploy new, more sophisticated cross-asset investment strategies.

At the same time regulatory changes are also forcing firms to source and report increasingly larger amounts of trade data, as well as to adopt higher-quality – and usually data-hungry – risk and pricing models. Investors are making similar demands of their asset managers.

Interactive Data, the reference data powerhouse, has authored a new white paper which describes these challenges in depth. It also outlines the steps financial firms may need to take in order to address them effectively. Those that do could have a notable competitive advantage over their more slow-footed rivals.

Download your complimentary copy here.

Source: IDC, 18.01.2012

Filed under: Data Management, Data Vendor, Market Data, Reference Data, Risk Management, Trading Technology, , , , , , ,

Challenging Year for Thomson Reuters, Bloomberg and Financial Information/analysis Market

Burton-Taylor International Consulting LLC, a leading financial news and market data research, strategy and business consulting organization, today released research showing the market shares of industry leaders Thomson Reuters (TRI) and Bloomberg to have increased slightly in 2008 to 34% and 24% respectively. The overall spend on financial information and analysis globally was flat year-on-year, as the industry exited 2008 at US$23.01 billion versus US$22.99 billion in 2007.

Although distant in terms of revenue, the fastest growing major data providers in the industry were FactSet, Interactive Data Corporation (IDC) and SIX Telekurs which now enjoy 2.5%, 3.3% and 1.2% global share respectively. The fact that the third, fourth and fifth biggest players hold less than 4% market share each only serves to underscore the duopolistic nature of the current market data industry.

Asia led all regions in 2008 with a 20.3% increase in spend, while Europe, Middle East and Africa (EMEA) grew at just under 7% and the Americas contracted by almost 10%. Thomson Reuters is the market share leader, with Bloomberg second, in each of the three regions. Quick sits third in Asia while SIX Telekurs is third in EMEA and IDC third in the Americas.

Burton-Taylor data shows that exiting 2008 the largest segment, in terms of total information and analysis spend worldwide, is Fixed Income/FX Sales & Trading. Investment Management is second largest, followed by Equity Sales & Trading, Corporate, Wealth Management, Commodities & Energy and a dramatically smaller Investment Banking segment.

A challenging year in 2009 is projected by Burton-Taylor, with negative 1-3% growth seen for the industry. The Americas will continue to contract. EMEA will remain flat but be supported by growth in the Middle East and Eastern Europe. Asia’s growth rate will be significantly less than recent years but still reach the low to mid-single digits, fueled by external investment from Japan and internal investment in China.

“Thomson Reuters and Bloomberg will face differing challenges and changing business focuses in 2009,” says Douglas B. Taylor, Managing Partner of Burton-Taylor. “At TRI, feeding the appetites of the growing ‘low latency’ and risk management monsters, as well as continuing to establish a foothold against strong competitor Dow Jones in the machine readable news market, are key priorities. At the same time, launching a new financial video service and rebuilding equity news to leverage their desktop dominance in the North American Wealth Management space will test the Company’s ability to both invest and seek overall margin improvement.”

“At Bloomberg the attention is directed at finding new revenue outside the core terminal business,” Taylor says. “Commitments to high margin datafeed sales, and to improved news coverage in China, are seen as significant opportunities, but successfully capitalizing on the strategies without cannibalizing existing revenue will require creative commercial models and deft execution in areas that are relatively new to the company.”

According to Taylor, “Both TRI and Bloomberg are facing these challenges at a time when the revenue insulation provided by their dwindling two and three year client contracts is rapidly eroding. Additionally, IDC’s continued aggressive approach to pricing and SIX Telekurs’ continued strong organic and acquisition-based growth may begin to dent the market shares of the ‘Big 2’. Maintaining revenue by Thomson Reuters and Bloomberg over the next 12-24 months will be strictly on the merit of their strategic planning and execution. Both companies are leaning heavily upon their proprietary news capabilities to help drive growth, which is one reason that Burton-Taylor in the coming weeks intend to publish the first ever, detailed comparative study of Bloomberg News versus Reuters News.”

“Because market participants are finding it increasingly difficult to differentiate services, we believe that our study ‘Bloomberg vs Reuters News – Analysis of International Services 2009’; a quantitative and qualitative analysis of Bloomberg News and Reuters News including regional and international content, daily and hourly volume, 3rd party redistribution, coverage breadth, coverage depth and commentary comparison, will provide a transparency and illumination that improves competition between industry participants and profitability of industry clients,” say Taylor.

Source: Burton-Taylor Internationalm 17.02.2009

Filed under: Corporate Action, Data Management, Data Vendor, Market Data, News, Reference Data, Trading Technology, , , , , , , , , , , , , , , , , , , , ,

Corporate Actions and Straight Through Processing IDC

Download: IDC Corporate Action and STP

Source: IDC October 2008

Filed under: Corporate Action, Data Management, Data Vendor, Library, News, Reference Data, Risk Management, , ,