Major Financial Services and Asset Management Firm
Customer Profile
A North American Financial Service Provider and Asset Management firm with almost $2 trillion of assets under management. It trades all asset classes in the major financial centers of the world. It is also a firm that prides itself on the use of technology to outperform its competition.
Requirement: Reference Data Distribution for Strategic EDM project
The firm had undertaken a multi-year replacement of legacy data management systems with a centralized commercial Enterprise Data Management (EDM) system (Asset Control). Initial bespoke integration had been done to connect one system but over 30 needed to be integrated to improve risk management and operational efficiency. If the entire project was to be a success the integration needed to be able to support:
- Real time delivery
- Batch bulk delivery
- Request reply
- Guaranteed message delivery
- Transaction integrity
- Message prioritization
- Initial seeds, periodic synchronization
- Throttling of distribution rate
- Offline processing support
- Retransmit messages
- Management and control support
- Message auditing
- Save messages to multiple sources
- Combining messages into single downstream message
- Message filtering and versioning
It also needed to ensure that the project would not result in 30 similar integration projects resulting in a multimillion dollar, multi year project rollout.
Solution: PolarLake RDD – Purpose Built Reference Data Distribution platform
In a period of 4 weeks PolarLake deployed, configured and performance tested a Reference Data Distribution solution to implement all of the above requirements. This included the generation of the business rules and data mappings for Issue, Issuer Ratings, Instrument, Business Entity and Listings. The main characteristics of the deployment were:
- 95% of business rules generated from spreadsheets
- 789 securities per second processed
- Time to configure business solution ~1 week
Why PolarLake: Business and IT alignment
PolarLake removed significant technical and implementation risk from implementing a Reference Data Distribution solution. However the real strategic change was how the various stakeholders, particularly business and IT, started to work together in a far more coordinated and aligned fashion.
This was fundamentally down to the unique ability of PolarLake to process the data mapping spreadsheets produced by the business. This meant that the people that understood the data best of all, the business owners of the data, were responsible and had control over the mappings and business semantics of the data. They were comfortable in excel and the platform supported it. The IT architects and developers were free then to concentrate on the technical specifics of the solution, such as connectivity, performance, transaction integrity, failover etc.
Ultimately the solution prevented frustration between two parties and the ability for each party to concentrate on their strengths.
2012