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

A-Team Insight Blogs

LSE Adds Yet More to its UnaVista Platform by Adding Support for FIX and XML

Share article

The London Stock Exchange (LSE) is certainly keen to add all the bells and whistles necessary to attract the maximum number of customers to its flagship post-trade platform UnaVista. Following the move of its transaction reporting service onto the platform earlier this month, the exchange operator has now added support for FIX and XML standards to UnaVista in order to allow customers to connect to the solutions available on the platform either directly or via its Fix Gateway service.

The recent deal with data integration solutions provider Volante extends their previous agreement, under which Volante provided support for Swift messages, to FIX and XML. UnaVista has therefore used Volante for the maintenance of Swift libraries for approximately two years for cash and stock reconciliation clients and this expansion now allows customers to use FIX and XML message standards throughout the LSE’s post-trade solution range.

Mark Husler, head of business development at LSE, explains: As part of our continuing efforts to make UnaVista’s services as accessible as possible, we will be linking UnaVista customers to our FIX gateway, as well as opening other transmissions channels based on FIX and XML. We chose the additional messaging formats from Volante to speed up implementation times, and reduce the overhead of managing different message types.”

The exchange operator contends that adding the FIX and XML libraries is part of UnaVista’s continuing efforts to help its customers to improve their levels of automation and make UnaVista’s services as accessible as possible. Husler believes a core benefit of UnaVista is its ability to bridge the gap between smaller manual firms and large automated ones, without the necessity to deploy any local software.

LSE first launched UnaVista back in 2007 as a global data integration, validation, matching and reconciliation service and has since been moving all of its post-trade offerings onto the platform, including the Sedol MasterFile data management solution in September 2008. According to the LSE, there are around 5,000 sell side and buy side users from around 2,000 global firms on the UnaVista platform, cutting across a range of multi-asset class solutions, encompassing Sedol Masterfile, reconciliations, transaction reporting, trade confirmations and data cleansing.

At the start of the year, the exchange operator hired ex-Xtrakter CEO Kevin Milne to head up its post-trade services business and these recent developments are likely all part of the LSE and Milne’s master plan for the back office space.

Related content

WEBINAR

Recorded Webinar: Adopting Entity Data Hierarchies to Address Holistic Risk Management

Firms across the board are struggling to gain a comprehensive view of their counterparty risk. In the wake of the Credit Crisis, regulators have increased their focus on pushing firms to not only better understand risk exposure, but also be able to provide evidence of the analysis they use to create their view of risk....

BLOG

DMS US Virtual Goes Live with a Practitioner Innovation Keynote and Real-Time Q&As

A-Team Group’s Data Management Summit USA Virtual kicked off today with a hugely insightful live practitioner innovation keynote followed by two live, and lively, Q&A sessions packed with audience questions and answered by the day’s expert keynote and panel speakers. Andrew Delaney, president and chief content officer at A-Team, hosted today’s live sessions of the...

EVENT

Data Management Summit London

Now in its 10th year, the Data Management Summit (DMS) in London explores how financial institutions are shifting from defensive to offensive data management strategies, to improve operational efficiency and revenue enhancing opportunities. We’ll be putting the business lens on data and deep diving into the data management capabilities needed to deliver on business outcomes.

GUIDE

Best Practice Client Onboarding

Client onboarding is central to the success of banks, yet it continues to present challenges and the benefits of getting it right are difficult to achieve. The challenges arise from siloed systems, manual processes and poor entity data quality. The potential benefits of successful implementation include excellent client experience, improved client acquisition and loyalty, new business opportunities, reductions in costs, competitive advantage, and confidence in compliance.