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

A-Team Insight Blogs

Bloomberg PolarLake Adds Corporate Actions and Index Data to Data Management Utility

Bloomberg PolarLake has added corporate actions and index data services to its data management utility, which already manages reference, ratings, pricing, position, trade and legal entity data on behalf of both buy-side and sell-side customers.

The corporate actions data service is based on data feeds from the company’s data vendor partners, data sourced from custodians over the Swift network, and Swift messaging based on industry standards ISO 15022 and ISO 20022. The service cleanses corporate actions data and raises alerts in relation to a defined universe of securities of interest. Corporate actions can be linked to other datasets such as securities or entities, and upcoming events can be flagged.

John Randles, CEO at Bloomberg PolarLake, explains: “As we built out the PolarLake data management utility, we wanted to make sure data was of high quality across all datasets. To ensure this, we needed to develop a corporate actions service to keep datasets in sync and create the best data masters.”

The service can be used as a stand alone product or with other PolarLake datasets, and has attracted half a dozen customers since it was introduced late last year.

The company’s index data service was added to the utility early this year and provides a managed service that onboards, formats, maps and scrubs index data from both data vendors and non-public sources. The data can be linked to other datasets such as security master and underlying data, and integrated with consuming applications.

Randles comments: “Index data will be huge this year. We already have significant interest in the index data service and a few clients have signed up.”

Looking at the broader progress of the PolarLake data management utility, Randles says it has a full set of datasets for both the buy-side and sell-side, although more will be added in response to customer requirements. To date, over 30 customers around the world are using the utility and more are expected to join as they move away from deployed software in search of solutions that can simplify and reduce the cost of data management.

Related content

WEBINAR

Recorded Webinar: Adverse media screening – how to cut exposure to criminal activity, from money laundering to human trafficking

Screening for adverse media coverage of counterparties presents an incredible opportunity for financial institutions to limit risk exposures and identify bad actors early. It is required by regulations such as the EU’s sixth Anti-Money Laundering Directive (AML 6), and is one of the most effective ways to steer clear of potential connections with sanctioned activity...

BLOG

Fund Administration Services Provider EFA Selects NeoXam Impress Regulatory Edition

EFA, a provider of administrative services to the fund industry in Luxembourg, has selected NeoXam’s Impress Regulatory Edition hosted with NeoXam-as-a-Service to help meet its regulatory goals. EFA was already using NeoXam GP, the vendor’s back-office investment accounting tool, and selected Impress Regulatory Edition as it needed a dedicated platform to industrialise operations, as well...

EVENT

Data Management Summit New York

Now in its 12th year, the Data Management Summit (DMS) in NYC 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

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...