8 June 2004 â New York - Cicada, a leading provider of financial data technology and business solutions, has announced a significant enhancement to the validation rules management facilities in its reference data management technology and services suite.
The new validation rules engine provides a graphical user interface for business analysts and other non-technical staff to create, modify, delete and add business logic and validation rules to be applied to a clientâs data sources, both third-party commercial sources and internal data. The functionality also includes a sophisticated rights system for security, to permission various groups or individuals to access and manipulate rules. In addition, the system contains a rules repository to maintain version control and to ease storage. Re-use of source-specific rules may also be accomplished through logical groupings within the repository. This new rules functionality, developed by Idiom Ltd., has been designed specifically for reference data with Cicadaâs integration work and experience in providing advanced reference data solutions.
Cicada provides reference data technology and services that help firms manage the acquisition, validation, distribution and integration of all types of data including pricing, security fundamental data and counterparty/legal entity data information. For clients that want to conduct these data management functions in-house, Cicada provides a software solution based on its proven Composer plus+ platform. For clients looking to leverage the efficiencies of an outsourced solution for reference data management, Cicada provides a range of managed services including manual intervention and exception-handling, corporate hierarchy building and maintenance, and the creation and maintenance of unique identifiers and linkages between securities, issuers and counterparties.
Hubert Holmes, Cicada Executive Vice President, commented: "The new rules engine greatly enhances the productivity and efficiency of both Cicadaâs data analysts, who facilitate our outsourced reference data management solution, as well as our client's own data and business analysts when they interact with Composer directly in an in-house licensed or hybrid implementation. This is just another step in Cicadaâs commitment to continually advance our software and processes through state-of-the-art innovations."