SmartStream Technologies, provider of the Reference Data Utility (RDU), has released an Exchange Notification Service (ENS) designed to track, consolidate and normalise reference data notifications published by exchanges. The service was developed in partnership with clients and extends the services of the RDU, which offers a managed service for vendor-sourced reference data.
With more than 100 exchanges trading derivatives and using multiple formats, managing all the subscriptions from each exchange is a tough task. SmartStream ENS recognises that missing exchange notifications in the reference data space can be costly, removes firms’ overheads of manually monitoring these notices, and delivers a consolidated list of normalised notifications that provides a cost-effective, timely, complete and accurate service.
Linda Coffman, executive vice president at the SmartStream RDU, says: “Each exchange publishes notifications at various time intervals throughout the day and does not follow a standard template or delivery method to publish the notifications used across the industry. Following conversations with our clients, we decided to build the ENS. The service overcomes these issues with real-time intelligence and encompasses all the information that a financial firm needs to manage its reference data from the exchanges.”
The ENS service supports intraday notifications, publishes them immediately and helps to drive quality improvements across areas such as trading, risk mitigation, validating vendor notifications for corporate actions and feed changes.
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