Data collection typically involves sourcing sets of pricing and reference data from external sources, where costs are driven by the number of incoming feeds and data source duplication, and the overhead of keeping pace with vendorsâ data format changes. As market and reference data volumes continue to rise, increasing efficiencies in data acquisition and consumption is imperative to business processes and cost controls, creating a growing need for a more selective process. The AC Plus Collection Service gives firms the ability to purchase and receive only the specific data they require, while also giving business users greater efficiency, control and access to the data they need when they need it.
The AC Plus Collection Service lets customers create instruments on-the-fly by using web services provided within AC Plus. Data can be requested directly from leading suppliers, such as SIX Telekurs VDF, through configurable interfaces that can be tailored to suit the needs of individual consuming systems for desired attribute sets and preferred vendor choices in order to minimize data acquisition costs. The service provides a straight-through process between the business user or the system requesting the data and the data vendor, thus automating the enormously complex and error prone instrument set-up processes. Asset Control provides maintenance of all of its feed handlers to ensure consistent and reliable data management operations.
Phil Lynch, Asset Controlâs president and chief executive officer, said, âFinancial institutions need greater flexibility and efficiency in sourcing specific types of data quickly for particular trading and business purposes and strategies. AC Plusâ Collection Service helps to simplify data management operations for the business user and enables a direct, interactive relationship between data providers and their customers.â