The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Advent Links Geneva to Thomson Reuters’ DataScope for Pricing and Reference Data

Thomson Reuters has scored another key win for its DataScope Select service with the signing of an agreement with investment management software provider Advent Software to provide its portfolio management and fund accounting solution with pricing and reference data. Under the terms of the agreement, the two vendors will create and interface to link Advent’s Geneva solution with DataScope Select.

The appeal for Advent was the ability to extend the core capabilities of its Geneva platform, says Chris Momsen, senior vice president and general manager of global accounts for the vendor. “By linking Geneva to DataScope, Advent clients will be able to seamlessly integrate pricing and reference data, which will help them to effectively manage their data requirements in a timely and flexible way,” he explains.

DataScope Select will feed the platform with global pricing and security reference data including corporate actions for portfolio management, administration and valuation. Gerry Buggy, global head of hedge funds at Thomson Reuters, reckons the data will allow Advent clients to achieve processing efficiencies and a consistent valuation process. “Hedge funds require concise pricing and reference data to accurately manage their portfolios. Thomson Reuters offers the broadest data coverage, including price, terms, conditions, corporate actions and counterparty data housed and maintained on a truly global basis,” he claims.

The Advent deal represents the second public win for the DataScope Select service this year. In June, valuations vendor Pricing Partners opted for the service to provide it with market data to calculate independent valuations using its proprietary pricing model, Price-it.

Thomson Reuters has also had a fairly solid second quarter in terms of revenues, despite what it describes as “difficult economic conditions”. Its Enterprise division, in which DataScope Select sits, achieved robust revenue growth for the period in comparison to last year’s results. “Revenues rose 7% against very strong results from a year ago, when organic revenues grew 14%,” Thomson Reuters reported in its quarterly report earlier this month. It cited “strong customer demand for reference data, independently validated pricing services and data to automate front, middle and back office applications.”

Related content

WEBINAR

Upcoming Webinar: Evolution of data management for the buy-side 2021

Date: 27 May 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes The buy-side faced a barrage of regulation in 2020 and is now under pressure to make post-Brexit adjustments and complete LIBOR transition by the end of 2021. To ensure compliance and ease the burden of in-house data management, many...

BLOG

GLEIF Calls Global Industries to Join Development of Cryptographically Verifiable LEI

The Global Legal Entity Identifier Foundation (GLEIF) has set out grand plans to create a digitised LEI service based on a digitally verifiable credential containing the LEI – the vLEI – and able to provide automated identity verification between counterparties. The ambition is for all industry sectors globally, including financial services, to embed new and...

EVENT

Data Management Summit New York City

Now in its 10th year, the Data Management Summit (DMS) in NYC explores the shift to the new world where data is redefining the operating model and firms are seeking to unlock value via data transformation projects for enterprise gain and competitive edge.

GUIDE

RegTech Suppliers Guide 2020/2021

Welcome to the second edition of A-Team Group’s RegTech Suppliers Guide, an essential aid for financial institutions sourcing innovative solutions to improve their regulatory response, and a showcase for encumbent and new RegTech vendors with offerings designed to match market demand. Available free of charge and based on an industry-wide survey, the guide provides a...