The first to promote standard data delivery format via MDDL enabling increased operational efficiency and straight-through processing
NEW YORK — June 20, 2005 — GoldenSource Corporation, a global software provider of Enterprise Data Management (EDM) solutions to the securities and financial services industry, today announced a strategic alliance with FT Interactive Data, the major operating subsidiary of Interactive Data Corporation (NYSE: IDC) and a leading supplier of financial information to global markets. This collaboration, along with The Financial Information Services Division (FISD), facilitators of MDDL, brings data standards to financial services firms, promoting data interoperability and the integration of data from multiple sources.
GoldenSource and FT Interactive Data worked together to produce an integrated global reference data solution – the GoldenSource MDDL Connector for FT Interactive Data, based on MDDL that delivers client and security master repository data. The built-in connector maps the data element of the FT Interactive Data feed into the required format. Both companies have been active participants of the FISDMDDL since its inception in 2001.
"The GoldenSource MDDL Connector for FT Interactive Data is the only combined solution based on MDDL," says Bob O’Brien, vice president product management, GoldenSource. "It provides financial institutions the ability to receive data and publish from a single, consistent, centralized source, ensuring uniformity across applications using an industry standard for identification. The connector further supports an EDM strategy by eradicating poor data management and missed opportunities. This is the first step towards making all data feeds interoperable."
MDDL defines a publicly available standard that provides a generic XML-based interchange format on the fields needed to describe: financial instruments (including identifiers and currenthistorical values); corporate events (including specific corporate and instrument information affecting the value and tradability) and market related information (including economic and industrial indicators). GoldenSource and FT Interactive Data also work with ISO 15022 standards to establish a standard delivery for corporate actions data.
"By providing our data in industry-standard formats such as MDDL and ISO 15022, we continue to meet the various delivery requirements of our customers," said Marty Williams, vice president, FT Interactive Data. "With the XML standard MDDL in place for our connector to GoldenSource, the connection is certain to be a robust one. By utilizing the ISO 15022 standard for corporate actions data, FT Interactive Data is able to access existing interfaces, thus minimizing the need for additional programming. GoldenSource, for example, is able to process our ISO 15022 data using an existing connector."
The GoldenSource MDDL Connector for FT Interactive Data helps complete the MDDL dictionary. By standardizing input feeds for data warehousing and the output methods by which client applications can request the data, the connector will automatically map the data from FT Interactive Data to operational functions. The companies’ mutual clients and prospective clients will benefit from inbound and outbound data comprehension.