Security Master Implementation

Business Problem:

A Large Global Fund Manager based in New York City undertook the implementation of a Security Master in an effort to:

  • Decrease its reliance on a third party data manager – To reduce turnaround time when adding new data.
  • Reduce operational cost – By consolidating data requests with one unified solution.
  • Increase accuracy of data – To reduce operational risk.

 
 

Project Recovery:

ReformIS was engaged mid-implementation after initial attempts left the project in jeopardy. The ReformIS on-site Consultant was tasked with reviewing and rebuilding what was considered unfit for production. Industry standards and ReformIS methodology through our extensive experience were suggested and implemented. Client internal staff was re-trained on all application processes.

 
 

Highlights:

  • Creation of complex Security Matcher containing 21 sources of data including Equities, Fixed Income and multi-legged Derivative securities.
  • Development of mastering layer containing separate Fixed Income, Derivative and Core masters along with Classifications, Ratings pure Rimes and pure Bloomberg masters.
  • Publishing layer to BiSam developed to meet specific SLA required by the business.
  • ReformIS Consultant was appointed Technical Lead and Development Manager of the large project team. Code reviews were conducted for each delivered solution.
  • Internal staff was retrained on the application and industry best practices of data management.
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    Result:

    After six months of recovery, ReformIS delivered an enhanced client solution. Accuracy of security data match increased significantly. Refined code allowed for seamless publishing of data to BiSam, the client’s Performance & Attribution application. ReformIS continued to work with the client on phase 2 of the project.