Netik LLC, a financial data management company has launched its new Global Securities Master, Netik GSMTM, a technology for the management of the whole lifecycle of reference and market data deployment in the enterprise.
Netik GSM covers all asset classes and reference data types and provides financial institutions with data acquisition, management of vendor sources, cleansing and enrichment operations as well as intelligent data distribution technology integrated into enterprise application.
Netik GSM also provides a Single Source of Data [SSODTM] removing the need for multiple data silos, and the need for programmers to maintain the individual data stores, operational resources and the associated technology infrastructure.
Unlike other securities masters, Netik GSM is a data services technology using Netiks products, processes and people, and includes indexes, corporate actions, exchange traded funds, instruments, policies, pricing, counterparty / legal entity. The key benefit to this approach adopted by Netik is that Netik is responsible for comprehensively managing all data. Whereas, with Netiks competitors that offer their securities master via a software application, the onus is on the client to update and maintain their software, processes, policies and people.
The problem facing Hedge Funds and large financial institutions is that if they have chosen their security master as a software application, it is the responsibility of the client to maintain the application once it has been installed. Should a data vendor provider change the file format this may result in the application not working. The client must also set up and maintain the rules for cleansing and validating the data which can be an expensive and time consuming project.
Managing reference and market data can be an expensive but vital exercise. Acquiring clean reference and market data from disparate sources is a common issue and affects the ability of front, middle and back-office systems to quickly, accurately and consistently reflect investment activity and valuation impact, thus inflating operational and IT infrastructure costs,” says John Wise, CEO, Netik.
“It is for this reason that Netik has launched Netik GSM, which provides a single solution for market and reference data feeds as a concentrator for multiple vendors, a single outsourced software platform, help desks supported 24*7 by 150 operational specialists and programmers covering all time zones. Unlike other solution, Netik GSM is a fully managed service solution bringing Netiks people, product and well-honed process and proven technology together to form the most effective and cost effective data management operations platform in the market today. Netik is an agent for over 100 different vendor / supplier feeds including Bloomberg, Euronext, Thomson Reuters, Telekurs, Standard & Poors, FTID etc, adds Wise.
Netik GSM solves the problem of rapidly and safely assembling the firms Single Version Of The Truth [SVOTTTM] and Single Source of Data [SSOD] to assist the senior executive team to manage the firm better and to enable it to achieve sustainable competitive advantage. Throughout my experience of working with money managers and investor services, the costs of providing really beginner level data management is inversely proportional to the quality received. Netik GSM is the result of a company that started in 1983 to provide cleansed data this is not a simple challenge. As a result, Netik GSM clients’ save 30% of their reference and market data costs by using this service, says Colin Close, president, Netik.