STP software vendor Sterci says Benelux-based private banking and asset management institution Petercam has been using its KEYdata solution for reference data management since January 2008.
KEYdata is being used by the Petercam Group for centralising reference data on market instruments. The data received from various sources is controlled, validated and sometimes aggregated before being published on its Tibco Rendezvous middleware, which connects all its front-to-back business applications.
According to Philip De Ridder, Petercam board member, and Benny De Ridder, responsible for reference data management at Petercam, the firm assessed three possible solutions to meet its reference data centralisation needs. KEYdata came out on top as the most comprehensive solution, enabling Petercam to handle multiple sources of data and to extract the data from the back office application for centralised management. The main objective was to fulfil the data requirements of front-to-back business applications, Petercam says. The project was completed in nine months with a team of business analysts and IT specialists. The project approach and the business expertise of Sterci in this field were key in the firms’ successful meeting of this challenge, Petercam says, and “enabled us to meet the tight timelines in order to comply with MiFID and Belgian securities dematerialising”.
The implementation of KEYdata Integrator and Repository is enabling Petercam to improve the quality of its reference data, to facilitate maintenance, and to master the complexity of data management while reducing costs and risks, the firm adds.
Etienne Savatier, marketing director at Sterci, says its KEYdata centralised master file for reference data management is key for supporting STP and reducing operational risk. The next stage for Petercam will be to implement Sterci’s STEMATCH solution for cash and securities positions reconciliation and exception management.
Sterci says KEYdata provides multiple connectors that are able to select and collect market data in various formats and to make translations with embedded tools to transform the data into an internal standard. Additionally, KEYdata options perform data cleansing before generating the “golden record” to be populated among the targeted business applications. KEYdata enables its customers to build a central data management application in order to maintain consistency and quality while reducing risks and costs, the vendor claims.
In early 2006, Sterci said Euroclear Bank was using KEYdata for multiple source data integration.