Global EDM and Standard Data Definition Language

Background:

Reformis consultants led a project for the asset management operation of a large international investment management company to design and build a Global Enterprise Data Management system and Data Definition Language.

The client required a Global Enterprise Data Management system that:

  • Stored current and historical investment data
  • Used standard message formats between investment systems

Our client had ambitious goals for a globally strategic investment platform with both the storage and the movement of data between systems conforming to the latest “best of breed” practices.

Reformis Solution

The Asset Manager required a system architecture which was scalable and supported the objective of ambitious expansion of the company by acquisition.

The requirement was for local front office or back office systems that could be efficiently integrated, avoiding point-to-point architecture.

Messaging Architecture: An XML schema was developed to standardise the movement of messages between front office and in-house back office systems. This Standard Data Definition Language covered all investment data:

  • Trades (Fixed Income, Equity, OTC derivatives)
  • Positions and NAV
  • Instruments and prices
  • Issuers
  • Benchmarks
  • Credit Indices
  • Credit Default curves
  • Reference Indices
  • Performance data

FpML was utilised to define trade messages for OTC derivatives.

Application Integration: Reformis was instrumental in designing the architecture of the solution which uses an Enterprise Service Bus (ESB). The architecture design clearly defines the publishing systems for each piece of data, and defines subscribers to the bus, effectively eliminating “point-to-point” architecture.

The ESB is responsible for routing messages to the subscribing systems and can use business rules to direct specific information to where it is needed – for example, depending on client account, trades may be directed to different back-office systems.

This ‘bus’ system provides a powerful tool for extension. Extensibility is paramount for companies who recognise that their systems may change and their enterprise expand.

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