Swift has added SmartStream Technologies’ Global Holiday Calendar to its SwiftRef reference data utility, replacing calendar data from Copp Clark and delivering global events data in real time. SwiftRef was introduced a couple of years ago and has since been developed with the addition of more data and more frequent updates.
Patrik Neutjens, head of reference data at Swift, says the Copp Clark data no longer fulfilled Swift’s needs and was not always easy to distribute, leading to a search for a new data provider.
He explains: “We have been commercialising the reference data platform and adding data sources that are needed to provide complete and accurate data. This is increasingly important as institutions rely on reference data for regulatory reporting and payments transaction reporting. Quality of data and accuracy is key when looking at world events and how they impact financial services. Our aim was to find a vendor solution that could provide us with the flexibility and customisation to manage all global events data in real time.”
The SmartStream calendar data provides coverage of trading sessions, exchange holidays, bank holidays, stock exchange settlement holidays and derivatives exchange holidays. Recent data additions include the opening and closing hours of federal banks and clearing houses.