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

A-Team Insight Blogs

PolarLake has Netted Eight New Clients This Year, Launches Reference Data Policy Engine

Subscribe to our newsletter

Commensurate with the current trend towards an uptick in investment in data management solutions this year, PolarLake’s CEO John Randles indicates that eight new clients have signed on the dotted line so far in 2010. The vendor has also just launched its PolarLake Reference Data Policy Engine, which Randles says is aimed at affording end users more control over how they interact with version 3.4 of PolarLake’s Reference Data Distribution (RDD) product.

To this end, the policy engine uses semantics technologies embedded within a business application to enable business operations and technical staff to define reference data usage control policies. This is all part of the vendor’s recognition that downstream users are getting much more involved in the data management process, notes Randles. He is convinced that enterprise data management (EDM) is evolving into what he calls “reference data supply chain management”.

“We’ve seen huge interest from firms not just wanting integration in the traditional form of middleware but more to do with implementing policy around who gets access to what data,” he explains. “This is about distribution priorities and the business uses of data. It is a much more sophisticated look at distribution from a business perspective rather than just as a technology issue.”

The new policy engine therefore features data access control policies based on downstream user and application profiles and data usage quotas aimed at ensuring appropriate and controlled use of data. The system is better able to adapt to end user requirements as it has the ability to learn and alter the data model based on observation of change in data patterns over time, says the vendor. It also provides more data on expected delivery schedules and exception escalation paths.

Randles reckons people have now got their heads around the concept of data warehousing and are now looking to extend this focus further downstream to fully realise the benefits of centralisation. “If you are building a data warehouse and it is difficult to use from the consuming systems, then this misses the whole point of data centralisation. It becomes another repository to be maintained rather than something of value,” he says.

The industry has moved on to look at the consuming application demands and end users are getting much more specific in how they want to interact with a centralised service, according to Randles. This includes the schedules and the formats in which they receive the data, as well as putting filters into the process in order to receive the data that they want rather than all the data that can be provided from the system. The focus of a reference data platform is therefore on better servicing a firm’s internal customers and making sure data distribution is conducted in a timely manner. This is all about the “last mile” of the reference data challenge: ensuring the data is for purpose.

In the second half of this year, PolarLake will release version four of its RDD, which was first released on the market back in 2006. Randles notes that this will probably happen at the start of the third quarter and should include a lot of “interesting new features”. The vendor has been working on the development of the solution with its customers, which includes six of the top 10 investment banks, two of the top five prime brokers and two of the top 10 asset managers, says Randles. “We think the product is fairly unique in solving the data supply chain challenge, rather than as a golden copy focused solution,” he adds.

The challenge for PolarLake going forward is around “education” and explaining how the vendor’s approach differs from a generic technology approach to data challenges, notes Randles. “We work in conjunction with a lot of the golden copy providers to fill the gap between generic technology and accessing the end data that they provide,” he says.

The vendor is focusing on gaining traction this year within the top 100 asset managers and the tier one and two sell side firms, adds Randles.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: The challenges and potential of data marketplaces

Date: 13 October 2022 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Data is the lifeblood of capital markets. It is also a valuable commodity providing financial institutions with additional insight when gathered in an internal data marketplace, or packaged and sold externally to other institutions. While the theory is sound,...

BLOG

Depicting Crypto’s Data Dilemma Before the Next Winter Cold Bites

By Berta Ares Lombán, Head of Digital Assets Financial Information at SIX. The crypto winter, when a basket of leading cryptocurrencies lost around $1.9 trillion in value, put a much-needed spotlight on the long-term future of digital assets. While this is not the first time cryptocurrencies have seen significant adjustments to their valuations, the fallout...

EVENT

Data Management Summit New York

Now in its 12th year, the Data Management Summit (DMS) in New York brings together the North American, capital markets enterprise data management community, to explore the evolution of data strategy and how to leverage data to drive compliance and business insight.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...