Two unnamed banks have signed up this month for access to the London Stock Exchange’s upgraded web-based matching reconciliation and data integration service, UnaVista. One bank has opted to used the service for suspicious trading activity monitoring, whereas the other is looking to LSE’s Sedol Masterfile for securities reference data checking.
The service, which was upgraded in September last year, will be used by the first bank to build a central repository of trading data, from which it can generate a range of trading surveillance reports, including front running, insider dealing and restricted list reports.
The other bank, which LSE describes only as “European”, will use UnaVista to compare securities from global securities master files at the bank against the exchange’s Sedol Masterfile. LSE claims the service will enable the bank to run reference data reconciliations daily, weekly, monthly or as required.
Mark Husler, head of business development for data and software at LSE, adds: “Since UnaVista is a purely web-based system, we are able to offer new clients a low risk, quick installation process, providing reliable reference data without the need for any costly hardware installation.”
The migration of Sedol Masterfile onto the UnaVista platform was announced in September last year along with the launch of a new service for the central matching of post-trade data across prime brokers, executing brokers and hedge funds. As a result of the move, UnaVista is now used as the engine for allocating and maintaining Sedol codes rather than just as a supporting system.
The two main drivers for the migration were to extend Sedol’s database coverage into other asset classes and to provide customers with more technical solutions via which to access LSE’s data, explains Husler.