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

A-Team Insight Blogs

PolarLake Implements Packaged Ref Data Distribution Solution

Share article

Dublin-based integration vendor PolarLake has packaged up a reference data distribution solution, PolarLake RDD, which has already been deployed by a global asset manager. PolarLake RDD is designed to meet the requirement for the distribution of reference data in sell side, buy side, custodian and fund administration businesses, being implemented alongside solutions from EDM vendors like GoldenSource, rather than replacing them, according to PolarLake CEO John Randles.

PolarLake had historically been involved in a number of reference data distribution projects using its core integration platform, including one at JPMorgan, says Randles. “With our most recent client, we jointly developed a business application focused on the needs of reference data distribution. Rather than a toolkit for reference data distribution, this is an off-the-shelf application for business analysts to use to manage data, providing reports and analytics on the quality of downstream data distribution.”

PolarLake has also implemented a patented way of managing business rules more intelligently, enabling it to implement what would have been 10,000 business rules in 1000, leading to a 75 per cent reduction in the time taken for implementation – down to four months from a typical 12 months – and requiring 80 per cent less resource, he says. “For this project we had one PolarLake consultant on site for four months. For typical integration projects the resource requirement would be far greater.”

Randles says PolarLake is not seeking to become an EDM vendor – rather it is “still an integration company providing a specific application for a specific integration requirement”. “Companies like GoldenSource, Eagle, Asset Control and TAP concentrate more on feed capture and cleansing. They don’t specialise in integration but their projects will get bad press if there are integration problems. We sit on top of an EDM solution and take its golden copy and provide the last mile of integration,” he says.
The vendor is also looking to work not only with financial institutions that have implemented commercial reference data solutions, but also those that have built securities master files inhouse, Randles adds.

Related content

WEBINAR

Recorded Webinar: How to leverage the LIBOR transition to improve your data management game

The transition away from LIBOR (London Interbank Offered Rate) is well underway, but there remains considerable ambiguity around how the final stages will be executed – especially with regards to benchmark replacements in markets outside the UK. What are the options, where are the uncertainties and what stage have firms reached in their preparations? The...

BLOG

Asset Control Wins with New Managed Services Contracts

Venerable Annuity, the legacy annuity business of Voya Financial (created by an investor group led by affiliates of Apollo Global Management, LLC, Crestview Partners and Reverence Capital Partners) has confirmed the migration of its data management systems to AC PaSS, the cloud-based managed service solution from Asset Control. The ACPaSS solution will provide Venerable with...

EVENT

TradingTech Summit London

The TradingTech Summit in London brings together European senior-level decision makers in trading technology, electronic execution and trading architecture to discuss how firms can use high performance technologies to optimise trading in the new regulatory environment.

GUIDE

Data Lineage Handbook 2019

Welcome to our latest handbook on data lineage, a critical concern for data managers working to achieve regulatory compliance, deliver operational gains, and provide meaningful value to the business. The handbook covers the complete scope of data lineage, with a view to helping you win management buy-in and budget, decide whether to build or buy...