Manage the Data, Manage the Problem
As the impact of MiFID reverberates around Europe, following on the heels of other advancing regulations such as Sarbanes-Oxley, UCITS III, Reg NMS and Basel II, has the time now come to rethink technology strategy within the Global Wealth Management community?
The challenge today’s Chief Operations Officers are facing is
how to juggle the need to make compliant ageing legacy systems, cope with
globalisation of the investment management businesses, meet Straight-Through
Processing (STP) objectives, and balance that against increasing internal
costs and Return on Investment pressures. These issues are further impacted
by takeovers and mergers where disparate and non-corporate systems are
inherited.
The practical implications of these challenges on the industry are huge,
especially with the tight timescales. Taking a simplistic view to a complex
problem, what is at the heart of each of these issues is the management
of increasing amounts of data. If one can manage the data effectively
one can manage the problem.
Enterprise Data Management >>>
In our constant effort to deliver competitive advantage to our customers, Odyssey offers its unique EDM solution to centralise the data collection and administration of common and duplicated data such as instrument data (including prices, static & reference data, corporate actions, etc.) as well as other common infrastructure data such as Currencies, Countries, Calendars, Third Parties, etc. With our unique background in providing a range of market-leading front office solutions covering discretionary portfolio management, asset management, advisory portfolio management, and customer reporting, Odyssey’s EDM solution can also consolidate data from these areas such as Positions and Transactions.
As the EDM solution shares the same common Wealth Management Platform shared by all our solutions, our entire solution set can provide unparalleled enterprise wide integrated functional coverage.
Ultimately Odyssey’s EDM will assist in progressively moving organisations away from disparate and inefficient procedures for administering, purchasing and disseminating reference & market data whilst giving them the flexibility to cope with the changing regulatory landscape.
Data Collection & Filtering >>>
Market research has shown that 90% of data repairs are made after the data has been utilised in a critical investment process. Designed by market data specialists, Odyssey’s EDM solution provides its “one for all” market data interface (iMDI) that automates the process of checking and validating market data before it is uploaded to mission-critical systems.
Pre-packaged data adaptors for services from Reuters, Interactive Data, Bloomberg, Telekurs, etc., support the collection of static, reference, pricing, and corporate events data. The parameter driven rules engine provides automated data filtering, correction, and data workflow processing through intuitive GUI’s.
Data Model & Database >>>
Our industry leading data model was constructed on the basis of many years of experience in investment management and has been implemented at over 85 financial institutions. All security types can be supported as it utilises a flexible customisable mechanism that allows users to construct a wide range of financial instruments encompassing all assets (stocks, bonds, cash accounts) and contracts (options, futures) as well as underlying instruments (indices, rates) that support their pricing mechanisms.
Our architecture incorporates the Sybase Adaptive Server Enterprise relational database management system (RDBMS), application servers and a web based user interface.
A choice of hardware platforms is available, ensuring the system can be implemented according to specific customer requirements.
Connectivity & Data Distribution >>>
Through a strategic partnership, collaboration with IBM WebSphere® has resulted in an embedded middleware solution - the Gateway, which provides integration connectivity through a scaleable and flexible message transformation engine facilitating output in various formats including XML, SWIFT, FIX, etc.
As well as providing standard adaptors to various Database applications (Sybase, Oracle, IBM, etc), this mechanism can also be implemented with a message bus such as IBM (MQ Series) or Tibco (Rendezvous), both strategic partners, to guarantee data delivery and replication.