First Derivatives plc (AIM: FDP.L, IEX: GYQ.I), a leading provider of software and consulting services to the capital markets industry this morning is pleased to announce that Thomson Reuters (TR) pricing and reference data group (P&RDG) has selected and implemented FD's Delta Data Factory (DDF) for use internally as a component in its multi-faceted forward-thinking data delivery strategy. This announcement follows FD's recent launch of DDF, a hosted data factory service for reference data and also the formation of a dedicated data management division.
Thomson Reuters P&RDG client-centric focus and innovation approach makes use of Delta Data Factory as one element in a strategy to rapidly meet the formatting and workflow requirements of its clients. TR selected DDF as a managed service "data formatting factory" to assist in its strategy to offer TR clients speedy integration and adoption of reference and pricing data.
According to Tim Rice, MD of Global Pricing and Reference Data, "we selected FD’s Delta Data Factory because of the flexibility and rapid implementation speed, powerful data transformation engine, data knowledgeable team, reliable hosted infrastructure and global support model. Within TR's data strategy, FD’s independence as a strong third party service provider supports and accelerates our plans allowing clients to leverage our data quickly. We're now successfully live with a number of clients".
For consumers of TR data, whether it be client-direct or third party application vendors, FD’s Delta Data Factory transforms the data into rapidly consumable formats for TR clients, third party applications partners, security master environments or EDM platform formats.
Dale Richards, President of FD US and Global Head of Data Management at FD commented, “We are very pleased to have TR as a client of DDF. The service is a powerful new model for the data industry and TR implementing and going live is a terrific endorsement of the capabilities".
DDF is a managed service support model that includes software, expert data staff, support level management, infrastructure, customization tools, hosting and management. FD provides the factory working with clients to implement the best strategy. FD has been hosting and operating systems on behalf of clients for 15 years with ISO27001/SAS70 compliant operating centers.
In addition to data vendors and publishers, financial institutions use DDF to outsource the processing and normalization of multiple in-bound reference data sources into EDM or proprietary security master environments. FD's also uses DDF to produce customized out-bound formats for their internal clients. Benefits include cost savings and decreased project timeframes.
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