âOne of the key requirements weâve been working on for our customers is the need to move away from processing reference data in batch mode,â says Marc Alvarez, EVP Products at TAP. âThe reality is that consuming applications are really only interested in actual data changes -- a total overwrite is just no longer acceptable in todayâs markets.â
The entire content of vendor feeds is still loaded into the TAPMaster database, while in parallel Publisher identifies values that have changed. Full command and control is provided in order to guarantee data delivery to the desktop and other consuming applications. Two tools within Publisher manage the module: the Publication Manager allows users to define the universe of content to monitor, while the Watchlist Manager allows users to construct a specific list of securities to monitor within any combination of data sources.
Many capital markets applications depend on notifications when data is available, while individual users often work with only a short list of securities. Publisher runs continuously, detecting changes at the field level, and delivers updates throughout the day to industry standard messaging tools via XML, including MSMQ, WebsphereMQ, JMS, TIB, and RMDS. A complete audit log of all completed events and published messages is maintained, ensuring the message stream and database are fully synchronized.
âIdentifying reference data change has been an expensive activity until now, as firms have paid the price through sophisticated analysis because the results trigger business activities that hit the bottom line,â says Steve Pentin, TAP's Product Manager. âPublisher detects the changes and issues notifications automatically across all the reference data held by the enterprise, which opens up a very broad universe of business events that can be brought into the real-time workflow of today's businesses.â
TAPMaster Publisher is available now within the TAPMaster suite, along with the Editor, Consolidator, OnDemand, and 22 feed managers for all the major data vendors. TAP will be showcasing the new module in partner Microsoftâs booth (#2211) at the upcoming SIA Technology event in New York.