Data management solution vendor Finsoft Financial has joined the Software & Information Industry Association’s (SIIA) Financial Information Services Division (FISD) with a view to getting involved in its reference data discussions. The vendor, which is the provider of the technology platform for the European Central Bank’s (ECB) Centralised Securities Database (CSDB), will contribute to the FISD’s new data model working group, says Marcelle von Wendland, vice president of investment for its risk and information management products.
“Finsoft Financial has been in close contact with the FISD for some time and has helped the FISD to establish a dialogue with the ECB to share the experience the central bank gained from its Europe-wide CSDB instrument and party reference data service,” says von Wendland.
The CSDB is currently running on Finsoft Financial’s Fincore Investment Information Central Platform, which incorporates the ECB’s reference and market data model and supports the ECB’s XML-based data exchange standard, which is derived from the model. The service currently covers more than five million active instruments worldwide, as well as related parties such as issuers and guarantors, and it is operated by the ECB for its associated 27 member state national central banks, says the vendor.
At last year’s FIMA in London, the vendor suggested that the platform could be used as an industry recognised source of business entity identifiers in the future. It is likely therefore that this will be a hot topic for discussion for the new data model working group, which is being led by Bill Nichols, programme director at FISD.
According to von Wendland, Finsoft Financial has also been actively involved in the development of the EDM Council’s Semantics Repository.