Reference Data Optimization Project

Played a crucial role in establishing a robust foundation for businesses by sourcing high-quality reference data. The objective was to enhance customer experience, improve trading efficiency, and increase operational effectiveness.

The core goal of the project was to address the growing importance of high-quality reference data in the financial industry. As customers increasingly depended on electronic trading and expected flawless execution, providing accurate and reliable data from the beginning of the trading day became essential.

Challenges:

1. Ensuring data accuracy and compliance with regulatory reporting requirements.
2. Managing a large volume of exceptions requiring manual intervention in trading processes.
3. Delivering a simple yet effective solution to complex reference data needs.

Project Solutions:

To address these challenges, the team developed the Reference Data Utility (RDU). This solution provided a high-quality Security Master built with industry best practices. The RDU was designed to eliminate 70-80% of data quality issues and seamlessly integrate into existing business applications. Its data was easy to consume and fully customizable, allowing businesses to tailor it to their specific requirements.

The implementation of the Reference Data Utility led to significant improvements in the financial industry:

1. Enhanced customer experience by providing accurate and reliable data for seamless electronic trading.
2. Streamlined trading operations by reducing manual exceptions and efficiently managing trade breaks.
3. Improved regulatory compliance through accurate data reporting.
4. Enabled financial institutions to save millions by proactively addressing data-related issues and reducing post-event corrections.