The module, called the Centerprise Market Data Service, allows firms to integrate new data feeds and data types, gain access to disparate data sources, centralize management of data sources and manage and control data. It handles third-party and internal market data.
For example, firms can create a single code for a product, such as the five-year Treasury, thus reconciling CUSIP, RIC and trading desk codes, says Reto Tuffli, CEO and senior principal.
"You can create a universal identifier internally," he says.
Firms can also create an enterprise-wide software system inventory and see the data sources provided by each system; assign data transformation processes to each data source; monitor data feeds by system, organization unit or transformation and workflow processes; run exception reporting for missing or incomplete feeds; and run audit reporting of data transformation and message routing.
Other functionality includes data caching, publish/subscribe support and the ability to link in value-added market data functions such as time series retrievals and transformations. A Journal Maintenance feature retains the data universe used for a specific business function to allow for reproducibility and historical auditing of results.
Raw data can be stored in a third-party or internally developed database or normalized to a Centerprise common data store. Adapters use message broker and transformation tools such as IBM’s MQSeries Integrator to simplify transformation and integration and provide a structure for accessing the data. Access to different market data sources is simplified by a common messaging tier with standardized request/response formats and common API and document schemas, such as XML.
MDS uses Java-based application services and the MQSeries suite for guaranteed messaging and message brokering and transformation capabilities. Centerprise is an IBM partner and has incorporated IBM San Francisco and IBM WebSphere Application Server as well as IBM MQSeries into the product.
Centerprise has also partnered with Fame, incorporating Fame’s time-series database technology into the architecture. In addition, Fame’s data is used to calibrate Monte Carlo simulations and drive historical simulations and for reference data management purposes. LJS’ Fixed Investment Database supports CenterSphere’s portfolio and analytics modules. CenterSphere also includes analytics libraries from a number of providers.
Centerprise is currently looking for two to four firms to participate in beta tests, Tuffli says. The product has spent two and a half years in development.
Tuffli says the software can help firms lower costs and improve controls. "You reduce the number of staff needed to manage and reconcile different sources of data and reports, reduce the number of services and reduce the number of heterogeneous applications. There’s also some gain from more efficient processes and workflows," he says.
Centerprise is available on an ASP or software license basis. Pricing depends on the size and complexity of the organization and the number of users, among other factors.