SmartStream Technologies Secures Eight Venders for Data Processing

SmartStream Technologies, a Transaction Lifecycle Management (TLM) specialist, today announced that eight data vendors have collectively signed an agreement to allow SmartStream Reference Data Utility (RDU) to process their respective data on behalf of mutual customers.

More specifically, the eight vendors include leading venues such as Euromoney TRADEDATA, Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Data International, Interactive Data Corp, S&P Capital IQ, S&P Dow Jones Indices, SIX Financial Information, and Thomson Reuters. Collectively, each of these groups have established agreements with SmartStream’s RDU using the reference data utility tapped SPReD.

SPReD helps provide myriad services for data providers and venues, including instrument reference data normalization, validation, cross-referencing, and cleansing across all asset classes, such as Equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term, derivatives, fixed income, and structured products, among others.

Moreover, Markit and SmartStream are also forging a strategic partnership that will see the integration of Markit’s CDS reference data as an active component within the RDU. The processing agreement is also important as it will help allow for the efficient on boarding of each company’s respective data.

According to Philippe Chambadal, CEO, SmartStream, in a recent statement on the agreements, “As we talk with our clients and prospects, they want to spend more with their data vendors, not less – as a result of regulatory initiatives or to add value to their businesses.”

“The RDU’s mission is to lower the cost of processing reference data. Delivering on that mission creates opportunities for data vendors as we open up space for additional spend and as we lower data integration costs – one of the biggest barriers to purchasing more vendor data. We welcome the prospect of working with each of our data vendor partners to build more value for our mutual clients,” he noted.

Last month, SmartStream made headlines after it had its solutions integrated by Societe Generale Prime Services (SGPS), a leading broker in the derivatives space. In particular, SmartStream provided its TLM Reconciliations Premium and TLM SmartRecs solutions for SGPS’ internal and external brokerage operations. The integration also saw the extension of the TLM services to Exchange Traded Derivatives (ETD) reconciliation.