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

A-Team Insight Blogs

Large Investment Bank Opts for PolarLake’s Reference Data Distribution Solution

Following the launch of its Reference Data Distribution (RDD) solution in July last year, PolarLake has signed its second big customer in the form of an unnamed global tier one investment bank. The bank is rolling out the solution as part of its revamp of its global reference data programme, which is focused on the distribution of standing settlement instructions (SSIs), counterparty, security master and corporate actions reference data.

John Randles, CEO PolarLake, explains the rationale behind the deal: “The client recognises the importance and complexity involved in distributing reference data within a global organisation. The choice to use specialised domain specific reference data distribution technology like PolarLake over extract, transform and load (ETL) or enterprise application integration (EAI) will mean they can now manage their reference data distribution in a very controlled manner.”

The bank selected the solution because of its pre-built interfaces, which allowed it a faster time to market, and the vendor’s domain specific knowledge of complex reference data integration projects, claims Randles. “This is a very significant deal in the industry with the clear recognition that reference data distribution is a key component to any enterprise data management (EDM) or data centralisation strategy,” he says.

“We also believe that the differentiators between a specialist product like PolarLake and the generic ETL/EAI technology for reference data distribution are clear. These differentiated features include reference data specific business analyst support, business operations support, pre-built industry standard interfaces and fast data streaming for batch and request reply processing,” he continues.

The solution garnered its first client in May this year in the form of the capital markets division of an unnamed European bank. That project involves the integration of multiple data streams and data types including trade, position, pricing and reference data into a group-wide financial data warehouse, according to Randles.

Also in May, PolarLake upgraded the RDD platform with the addition of grid computing capabilities to increase its scalability for downstream uses. The upgrade was aimed at allowing firms’ EDM platforms to support more than two or three downstream systems and taking away some of the complexity of a large scale rollout of RDD.

The addition of grid technology allows firms to deal with larger volumes of reference data at a faster speed, says the vendor. The solution also includes five new grid enabled features: distributed delivery agents, initial seeds, store and forward, resource optimisation and delivery agent’s dashboard.

Related content

WEBINAR

Upcoming Webinar: Getting ready for Sustainable Finance Disclosure Regulation (SFDR) and ESG – what action should asset managers be taking now?

Date: 8 June 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Interest in Environmental, Social and Governance (ESG) investment has exploded in recent years, bringing with it regulation and a requirement for buy-side firms to develop ESG strategies and meet disclosure obligations. The sell-side can help here by integrating ESG...

BLOG

Time for Financial Institutions to Take Back Control of Market Data Costs

By Yann Bloch, Vice President of Product Management at NeoXam. Brexit may be just around the corner, but it is market data spending that financial institutions are more interested in taking back control of right now. In fact, other than regulatory equivalence post the transition period, it is hard to think of a more prominent...

EVENT

RegTech Summit London

Now in its 5th year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Complex Event Processing

Over the past couple of years, Complex Event Processing has emerged as a hot technology for the financial markets, and its flexibility has been leveraged in applications as diverse as market data cleansing, to algorithmic trading, to compliance monitoring, to risk management. CEP is a solution to many problems, which is one reason why the...