AIM Software, a provider of reference data management solutions to the financial industry, announced that Clearstream International, went live with the golden copy solution of AIM Software. GAIN is deployed as a central pricing master at Clearstream carrying out the daily pricing of more than one million securities based on a comprehensive rule framework and the integration of more than ten pricing sources. The project went live after only seven months.
Clearstream International, the International Central Securities Depositary (ICSD) part of Deutsche Brse Group, ensures that cash and securities are promptly and effectively delivered between trading parties. It also manages, safekeeps and administers the securities that it holds on behalf of its customers. Due to the high market volatility, it became necessary for Clear-stream to increase the pricing coverage, pricing timeliness and quality with a central data management solution that could be seamlessly and swiftly integrated into its existing IT environment.
The decision for AIM Softwares GAIN Golden Copy solution followed a comparative analysis of proven data management suites on the market. Clearstream chose GAIN for its broad connectivity to 15+ data feeds and its strong rule framework as well as the quick implementation time.
We were looking for a proven pricing master with comprehensive business logic and a connectivity to a wide range of data sources, says Jean-Marie Piquard, The state of the art GAIN Golden Copy platform meets our current needs and gives us the flexibility we need for the future.
Following the definition of the required business logic, the entire pricing master integration was realized in only 7 months and went live in mid October. This rapid deployment became possible by GAINs standard sets of mappings, workflows and rules as well as predefined processes derived from the know-how of AIM Softwares previous projects. The international custodian is thus able to benefit from a comprehensive rule framework with a fine tuned pricing workflow that facilitates the daily pricing of more than one million securities, which enables Clearstream to achieve a higher STP rate.
The transparency of the platform allows Clearstream International to remain independent after the finalization of the project.
D.C.