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

A-Team Insight Blogs

SmartCo Launches New, Faster Version of Smart Financial DataHub

Following on from its upgrade in October last year, EDM vendor SmartCo has released yet another new version of its Smart Financial DataHub (SFDH) solution, which it claims provides its clients with faster and more comprehensive market data management capabilities, additional security features and enhancements to key financial modules. Patrick Archer, SmartCo’s UK and US head of sales, and Thierry Zemb, head of product management at the vendor, explain the key features to Reference Data Review.

“The new version is aiming at answering current clients’ wishes due to evolving needs, but more importantly at providing features needed by the market in general,” explains Archer. “For instance, the fast time-series request is a new feature to help institutions to evaluate and back test investment strategies in statistical applications, answering the need to better use acquired and cleansed data. In the same way, even if the 4 eyes functionality has been necessary to some clients, it is also a common need that we had to tackle.”

The new version of the solution has extended the data quality controls and series jumps comparison tools that were already available in the previous version for end of day prices to intraday prices. The golden copies generation module also now allows the setup, without any coding, of multiple source management with complex rules such as average value, matched sources, and any kind of selection or calculation rule, says the vendor.

“The market data functionalities have specifically been improved to provide better support for intraday pricing, which is an important evolution of the software, and which enables us to cover more client needs. The extension of the golden copy generation is a natural evolution of our golden copy generation. After having the chance to support more and more specific cases, we can now easily support all the cases that we ever met during client implementations,” explains Archer.

On the market data management front, SFDH also now allows for faster real-time requests and extracts of large historical time series of various measures and provides immediate results usable in statistical or mathematical applications, according to the vendor.

SmartCo has beefed up the solution’s security features, says Archer. “On the security side, we continue to improve the security of the data, either on securing the administration process, or on securing the data storage. Last, ex-post controls have been added because we came across projects where the clients wanted to quickly load existing data, and wanted to increase the data controls by reviewing and adjusting controls levels afterwards,” he continues.

Therefore for enhanced control of manual data inputs, a ‘4 eyes’ validation principle can now be activated on any data perimeter managed within the application. To verify the consistency of data stored in the application, data quality controls can now be applied on the existing data. In addition, to verify the consistency of data currently stored in the application, data quality controls can now be applied ex-post on the existing data sets, the vendor claims.

The new enhancements to the solution’s financial modules includes the addition of an indices and benchmarks master file, which manages the composition of filtered indices or benchmarks in addition to market index securities and composite indices or benchmarks. The corporate action management module for enabling storage and data quality management of corporate actions is also now able to process the impact of corporate actions on securities characteristics using a fully user definable rules engine, says the vendor.

According to Archer, the vendor involved its clients in some of the development process: “The development of about 60 improvements (including about 10 totally new features) has been run over the six last months, but the most important aspect of this is that it is the result of more than one year working with our clients and on potentials new projects and carefully identifying the new needs coming to the market.”

The roadmap for the changes was presented to the vendor’s clients around six months ago and those that chose to, got involved in some of the specifications, says Archer. “Now, half of our customers are willing to take benefit from this release in the very short term,” he adds.

Zemb explains why he thinks that despite the competition in the market, the new version will attract new customers: “Our cutting edge technology covers the most complex business needs in the master data management (MDM) area for the financial industry. The richness and the flexibility of our dynamic data model, and the comprehensive and very large range of functions and services provided within the plate form, allow us to address the (quasi-) totality of data management requirements.”

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

HUB Cloud Platform Aims to Transform Asset Management Operating Model

The HUB technology company set up by PIMCO, Man Group, IHS Markit, State Street, Microsoft and McKinsey & Company promises a utility style cloud-based platform designed to transform asset managers’ middle and back office operating processes, and accelerate them towards a digital operating model. This should reduce cost and mitigate risks, and leave asset managers...

EVENT

Data Management Summit Virtual

The Data Management Summit Virtual brings together the global data management community to share lessons learned, best practice guidance and latest innovations to emerge from the recent crisis. Hear from leading data practitioners and innovators from the UK, US and Europe who will share insights into how they are pushing the boundaries with data to deliver value with flexible but resilient data driven strategies.

GUIDE

Pricing and Valuations

This special report accompanies a webinar we held a webinar on the popular topic of Pricing and Valuations, discussing issues such as transparency of pricing and how to ensure data quality. You can register here to get immediate access to the Special Report.