About a-team Marketing Services
The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

A-Team Webinar Discusses the SmartStream RDU With its Three Founding Banks

Subscribe to our newsletter

The reference data utility model is gaining traction with some firms joining SmartStream’s Reference Data Utility (RDU) and others building their own internal solutions, but whatever the selected solution, the overarching interest is in improving data quality and reducing the cost of data management.

The establishment and development of the SmartStream RDU by SmartStream and three leading banks, as well as the challenges and opportunities of participating in a reference data utility, were discussed during this week’s A-Team Group webinar, The Reference Data Utility: How and why Goldman Sachs, JPMorgan Chase and Morgan Stanley are on board. The webinar was moderated by A-Team Group editor Sarah Underwood and joined by the founders of the SmartStream RDU, Thomas Dunlap, managing director at Goldman Sachs; Henry Cotrotsios, program manager at JPMorgan Chase; Eric Suss, managing director at Morgan Stanley; and Philippe Chambadal, president at SmartStream.

Setting the scene for discussion, an audience poll showed 32% of respondents in the early stages of considering the utility model and 68% already using or planning to use the SmartStream RDU or in-house built solutions. A second audience poll identified the main barriers to adopting the reference data utility model as practical implementation and the cost and human resource requirements of change.

The panel concurred with the audience’s views and went on to discuss why the banks decided to work with SmartStream to develop the RDU, how the utility operates, and the practical steps that must be taken to join the utility.

Considering data management, Chambadal described the mutualisation approach embedded in the RDU and noted the utility’s role as a processing agent of reference data licensed by each client. The panel members from the banks detailed the initial asset classes being managed by the utility, including listed derivatives and some equities, and the timeline for the addition of further datasets including additional equities and fixed income.

Discussing the benefits of using the RDU, the panel was in no doubt that the utility will deliver not only better data quality and lower error rates, but also reduced technology complexity and operating costs, improved regulatory compliance, and flexibility to support new products.

To find out more about:

  • How the SmartStream RDU works
  • Practical steps to join the utility
  • The role of data vendors
  • Data managed by the utility
  • Deliverable benefits

Listen to the A-Team Group webinar here.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Managing the transaction reporting landscape post Brexit: MiFID II, SFTR, EMIR

The transaction reporting landscape has, for many financial institutions, expanded considerably in size since the end of the UK’s Brexit transition period on 31 December 2020 and the resulting need for double reporting of some transactions to both EU and UK authorities. It has also changed dramatically following the UK government’s failure to reach equivalence...

BLOG

GoldenSource Plans Product Innovation Following Acquisition by Gemspring Capital

GoldenSource is planning to innovate its enterprise data management (EDM) and master data management (MDM) solutions, and accelerate global growth following its acquisition by Gemspring Capital. Product innovation will include building and buying adjacent solutions to the EDM platform. GoldenSource CEO John Eley, describes the acquisition as a strategic investment in the company’s growth. He...

EVENT

TradingTech Summit Virtual (Redirected)

Trading Tech Summit (TTS) Virtual will look at how trading technology operations can capitalise on recent disruption and leverage technology to find efficiencies in the new normal environment. The crisis has highlighted that the future is digital and cloud based, and the ability to innovate faster and at scale has become critical. As we move into recovery and ‘business as usual’, what changes and technology innovations should the industry adopt to simplify operations and to support speed, agility and flexibility in trading operations.

GUIDE

What the Global Legal Entity Identifier (LEI) Will Mean for Your Firm

It’s hard to believe that as early as the 2009 Group of 20 summit in Pittsburgh the industry had recognised the need for greater transparency as part of a wider package of reforms aimed at mitigating the systemic risk posed by the OTC derivatives market. That realisation ultimately led to the Dodd Frank Act, and...