Fund Accounting platform integration using Markit EDM

Background:

In order to facilitate a move from the existing Latent Zero front office interim platform to an alternative strategic market leading Order Management System (OMS) platform, a data management solution was required to migrate information from their current Fund Accounting System (FAS) to the OMS platform.

The data to be migrated included:

  • Security data
  • Account data
  • Position data
  • Issuer data
  • Supporting reference data

Reformis Solution

A joint ReformIS and Markit EDM consultancy team provided business analysis, data management, development and testing resources to the client for the duration of the project.

The project was dual site in London and Paris and had to manage the delivery of requirements across both locations.

The approach taken by the team was to split the delivery of the interface into a number of work streams and employ the Markit data management best practice methodology. The work streams are described below:

Security data including OTC instruments:

  • Import and data type the FAS Security data
  • Import and data type FAS data that supports the OTC instruments
  • Align and map FAS security data
  • Enrich FAS Security data with supporting Bloomberg data
  • Validate securities against held position records
  • Put FAS securities through the Markit EDM DataMatcher to assign a Markit EDM Identifier
  • Enrich supporting OTC data with the Markit EDM Identifier
  • Run Vertical and Horizontal Inspections to validate against other sources
  • Map Security data to the Security Master table

Account data:

  • Import and data type the FAS Account data
  • Align and map FAS account data
  • Map FAS Account data to the Account Master table to create Markit EDM Account Id
  • Enrich Positions with the Markit EDM Account Id

Position data:

  • Import and data type the FAS Positions data
  • Align and map Positions data
  • Validate positions against Account records
  • Map FAS Positions data to the Positions Master table

Supporting reference data:

  • Import and data type the FAS reference data
  • Validate all reference data against securities held in the FAS security table

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