Switzerland-headquartered STP software vendor Sterci says Benelux-based private banking and asset management institution Petercam has been using its KEYdata solution for reference data management since January 2008.
Sterci is known less as a reference data specialist than as a provider of trade process automation solutions – though it also boasts Euroclear Bank as a KEYdata client, using the solution for multiple source data integration. While EDM vendors such as Asset Control and GoldenSource have grabbed much of the limelight when it comes to reference data centralisation, Sterci is one of several vendors (including Coexis, Eagle Investment Systems and Odyssey) making headway offering reference data capabilities as part of broader trade process automation offerings. Indeed, the next stage for Petercam will be to implement Sterci’s Stematch solution for cash and securities positions reconciliation and exception management.
KEYdata is being used by the Petercam Group for centralising reference data on market instruments. The data received from various sources is controlled, validated and sometimes aggregated before being published on its Tibco Rendezvous middleware, which connects all its front-to-back business applications.
According to Philip De Ridder, Petercam board member, and Benny De Ridder, responsible for reference data management at Petercam, the firm assessed three possible systems. KEYdata came out on top as the most comprehensive solution, enabling Petercam to handle multiple sources of data and to extract the data from the back office application for centralised management. The project was completed in nine months with a team of business analysts and IT specialists. The project approach and the business expertise of Sterci “enabled us to meet the tight timelines in order to comply with MiFID and Belgian securities dematerialising”, Petercam says.
KEYdata provides multiple connectors to select and collect data in various formats, with embedded tools to transform the data into an internal standard.