Financial services firms require accurate, timely, and complete information regarding securities identification, terms and conditions, corporate actions, and pricing for their pre-and post-trade processes. With Alveo’s Security Master solutions, firms can quickly onboard new data or consuming applications, track and improve data quality, and even view data consumption and distribution in real-time.
Alveo provides its customers with a single user experience and dashboard to interact, intervene and visualize the market and reference data, data models, business rules, and workflows we process on their behalf. It allows our clients to seamlessly access and self-serve data without the need for IT support.
The world of financial information products can sometimes be as dynamic as the financial markets themselves. New information products regularly come up to address new content and new use cases – for example in ESG data management or alternative data sets using a credit card, POS, geospatial or other information to provide additional color on projections/financial products.
Existing feeds undergo regular change as well – in particular, the enterprise data products that (by definition) cater to a range of use cases and cover comprehensive information on financial instruments, corporate actions, and issuers. This could include information on new trading venues, new types of financial products, regulatory information, going back a bit further these were tax information fields such as EUSD or FATCA indicators.
Part of Alveo’s standard service is maintained integration with data providers. We sync with the release schedule of the data providers – we have arrangements with them for support, documentation, and the use of their data in development/test. Alveo’s industry-standard data model follows suit as it reflects all content covered in our integration and is regularly expanded.
The number of changes in the vendor data models runs in the 1000s per year. The bulk of these are static attribute changes and mappings but new pricing fields –any data that is changing frequently – come up regularly as well. This includes for example new ratings, macro-economic indicators, news sentiment, or climate information.
Alveo Industry Data model changes include fields in enumerations, e.g. industry sectors, rating scales, and currency codes. Static means any referential or master data, terms and conditions of products, information on legal entities, tax, and listings. And then there are mapping changes. Representing new domain values accurately in our standard model for example. In some cases, these are fairly straightforward 1-1 mappings where we standardize terminology and naming conventions. In other cases, there will be interdependencies between different fields and it is not a straightforward mapping.
During the mapping, we represent data and cross-ref to our standard form. In this process, we also make links between object types (ultimate parent – issuer – issues – listings – corporate actions) explicit. The standard model as mentioned is extensible by clients.
One of the many data providers supported in Alveo’s data management solution is Alveo’s standard integration with WM Daten. On occasion, there is a very large-scale upgrade or entire feed replacement in the financial data industry. One example of that is the upcoming change of the data management infrastructure of WM Daten, i.e. the upcoming transition from EDDy (“enhanced data delivery”) to EDDy_neu. See https://eic.wmdaten.com/index.php/home for more information from WM Daten on this project.
Essentially, WM Daten is overhauling its data delivery infrastructure and moving from EDDy to EDDY_neu. From March 2022 there is a parallel run and from April 2023 the old platform will be shut down.
The change is material and brings numerous changes to the feed format – as well as increased flexibility in data consumption to users of WM’s data.
Reference data changes include:
- Replacement of primary key (issuer identification number)
- Newmarket identifier (enabling multicurrency listings)
- New number ranges, new variables, and obsolete existing fields
- Corporate actions changes
- New fields/identifiers
- New order for sorting data records
Included in Alveo’s data management solution is full maintenance of any changes data providers make to their data products. On top of that, Alveo abstracts from specific data formats in a standard business domain model which helps our clients combine different sources.
To discover how Alveo can help you with the WM Daten transition or any other pricing and reference data management challenges, please click here.