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

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: Entity identification and client lifecycle management – How financial institutions can drive $4 billion in cost savings

A new model in Legal Entity Identifier (LEI) issuance has created significant opportunities for financial institutions to capitalise on their KYC and AML due diligence. By becoming Validation Agents and obtaining LEIs on behalf of their clients, financial institutions can enhance their client onboarding experience, streamline their internal operations, and open the door to new,...

BLOG

How to use the LEI to Solve your Onboarding Problems and Cut Costs

Client onboarding and lifecycle management are an ongoing problem at many financial institutions, with inefficiencies often caused by layers of technologies and processes added to capture required data and avoid fines when new rules and regulations are introduced. A solution to the problem, which could save the global banking industry billions of dollars a year...

EVENT

Briefing: ESG Data Management – A Strategic Imperative

This breakfast briefing will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

Managing Valuations Data for Optimal Risk Management

The US corporate actions market has long been characterised as paper-based and manually intensive, but it seems that much progress is being made of late to tackle the lack of automation due to the introduction of four little letters: XBRL. According to a survey by the American Institute of Certified Public Accountants (AICPA) and standards...