The London Stock Exchange hopes to help banks improve the quality of their reference data with the launch of two new validation tools.
Starting Tuesday, the exchange will be using a combination of the SEDOL Validator (SEVAL) and the Data Validation Service to address quality issues.
SEVAL addresses issues that arise as a result of perpetually changing securities data by validating their securities master files against the SEDOL Masterfile held at the London Stock Exchange.
The DVS, however, is a new generic data reconciliation engine that allows rapid validation of multiple data sources by users, catering to all types of data, including securities, counterparty, trade, settlement and payments data. These data types can be supplied in any format.