Creation of accurate vendor hierarchy to ensure high quality data and establish a true golden copy of securities and counterparty data across the enterprise
GoldenSource Corporation, a global software provider of Enterprise Data Management (EDM) solutions to the securities and financial services industry, today announced that Daiwa Securities SMBC Europe Limited., one of the leading Japanese investment banks in London, has expanded its use of the GoldenSource suite of products to include connections to Bloomberg and Telekurs for securities descriptive, price, and corporate actions data. The GoldenSource solution will also manage data from the company’s own securities data feed which originates at Daiwa’s head office in Tokyo.
Since first installing the GoldenSource product suite in 2003 Daiwa has continued to expand its use of the system and upgraded to the latest version in Q4 2005. The recent addition of connections to Bloomberg and Telekurs data has helped Daiwa to establish a securities and counterparties master. The GoldenSource solution facilitates a vendor hierarchy system by establishing whether Bloomberg, Telekurs or Daiwa’s own data feed is the preferred source of data for different asset classes. By implementing this system the preferred data vendor for each asset class is selected as the primary data feed and the other feeds are used to validate and cross reference the data from the primary feed.
Graeme Muirhead, Executive Director, Daiwa, comments: “We have been working with GoldenSource for several years to implement an enterprise data management infrastructure to actively process data as soon as it is received. By phasing the automation of our data processes on an integrated platform we are able to improve our operational efficiency, minimize our data staff requirements, and improve data quality. This will enable us to improve customer service and to further expand volumes and products into the future.”
Neill Vanlint, Head of EMEA Professional Services, GoldenSource, comments: “Creating a hierarchy requires accurate matching and that in turn requires high quality inbound data. One of the biggest challenges was working through data quality issues to achieve accurate matching. The GoldenSource professional services team were able to work in unison with Daiwa’s project team to identify the data issues and configure validation and matching rules that create a true golden copy. GoldenSource distribution capabilities support high degrees of automation such that the flow of data passing from data vendor to GoldenSource for creation of the golden copy and then on to consuming applications is fully automated. This project has been a great success and we are looking forward to continuing our relationship with Daiwa in the future.”