The ability of Risk Managers to adapt to changing regulatory environments and achieve more up to date and accessible views of immediate risk positions, has long been held back by the siloed treatment of market and reference data. Today at FIMA NY, GoldenSource announced the release of the GoldenSource Market Data Solution (GSMDS) allowing Chief Risk Officers and Chief Financial Officers to get to grips with operational and financial risk caused by increased market volatility, inconsistent business processes and asset-based processing silos.
"Risk management, product control and finance officers need higher data quality, transparency and consistency. The GoldenSource Market Data Solution is unique in offering a proven business solution to address the challenges of offering a 360 degree view of all risk-relevant data in a single data management platform," said Mike Meriton, GoldenSource CEO.
According to research from consultancy A-Team Group*, 87% of Risk Managers are interested in centralising market and reference data. The GoldenSource Market Data Solution is an innovative solution which unifies traditional reference data (static data, corporate actions, end-of-day pricing) with more time-critical market data (intraday pricing, rates, curves, and derived data sets such as volatility surfaces and correlation matrices) and offers increased data quality, consistency and transparency across the investment process.
GSMDS helps firms address issues such as:
- Pricing mechanisms in the front office and valuations for Profit and Loss (P&L) in the middle and back office often depend on the same price and rate data, yet both areas source this information from disparate sources.
- Higher market volatility is impacting portfolio valuations across all asset classes, meaning back office risk and P&L systems cannot wait until end-of-day to access critical market data.
- Regulators are expecting the same data used in the trading and investment decision support process to be extended to valuations, P&L, financial reporting and risk management.
- Client reporting demands more transparent asset and portfolio valuations, and golden copy pricing now needs to include reference data as well as multiple market data sources.
Built on Java and web services technology, the GoldenSource Market Data Solution includes technology components licensed from Xenomorph, a leading provider of time-series data management and analytics solutions. The GoldenSource Market Data Solution integrates time-series storage and analytics functionality within its award-winning golden copy platform for exception management and data distribution. Its functionality includes the capture, validation, cleansing, storage and distribution of prices and rates as well as more complex datasets such as curves, spread curves and volatility surfaces.