Integrating Markit EDM with Seismic’s Surge Schema

Background:

In an effort to reduce manual work when generating presentation decks for clients, a large Global Investment Manager required a solution to automatically update Seismic with mastered data from Markit EDM.

The existing process required manual queries on both the accounting platform and a SQL Server database, along with a series of manual steps within Seismic’s UI.

Our consultant’s extensive experience with Markit EDM and capacity to work remotely created the perfect scenario for an offsite consultancy solution. The teams used remote technologies to gather Markit EDM requirements, hold virtual meetings, and host daily scrum calls.

Reformis Solution

A process was designed and developed in Markit EDM to replace the manual queries within SQL Server and the accounting platform.

The Markit EDM implementation creates output for Seismic that mirrors the custom schema the Investment Manager defined within Seismic for their Month End Portfolio Overview presentation decks. It populates the export dataset with mastered data from the Portfolio & Security Levels. Reformis also provided the client with Markit EDM solutions compatible with Seismic’s Surge Schema. This offers the client an easy migration path to Surge when ready.

Markit EDM consumes portfolio data, an automated accounting system report and, securities data from Bloomberg Per Security. Portfolio and security level data are mastered and validated using Markit Inline Markit EDM best practices. At business end of day, Markit EDM generates automated exports to Seismic with the latest month end information.

The following Seismic-specific workflows were built in Markit EDM for users to support the newly automated process:

  • Industry – Users can maintain Seismic-specific industry mappings in Markit EDM’s Reference Data Maintenance screen. They may update levels, codes & descriptions to align with what are expected in the output to Seismic.
  • Sectors – Similar to Seismic Industry, this screen is where business users maintain sector levels, codes & descriptions for use in Markit EDM exports to Seismic.
  • Portfolio Groupings – Users need to generate reports for different groupings of portfolios. They may create new or edit existing portfolio groupings. Each grouping has a distinct report name and has an assigned business owner with a flag saying whether that portfolio remains active within the grouping.
  • Reporting – This screen serves Markit EDM users in the following ways:
    • Users may view exports to Seismic.
    • Users may also initiate an intraday export to Seismic ahead of the scheduled end of day exports providing Seismic with updates to attributes on demand.

Supporting Markit EDM workflows were developed to create the Seismic Portfolio Level & Portfolio Holdings exports for Seismic:

Load Month End Positions from Accounting – Markit EDM loads month end data updates relevant to Seismic as reported by the accounting system on a daily.

Store Month End Prices, Security & Portfolio Positions – This allows for historical month end reporting from Markit EDM when needed.

Export Portfolio Level & Portfolio Holding Level Attributes to Seismic – At end of day, once all mastering completes & updates from accounting received in EDM, this process sends exports to the client’s proprietary data warehouse and onto Seismic.

Reformis evaluated the following connection options with Seismic Data Engineers:

  • Seismic Data Loader – Using Secure FTP, Markit EDM sends export files to a Seismic hosted location where a Seismic supported data loader consumes it.
  • Direct Connection to Data Warehouse – Seismic establishes a direct access point to the relevant schema in the Data Warehouse from which it detects and loads changes to Seismic for use in generating Portfolio Overviews.
  • Data Generator REST API – Seismic establishes a connection to a Markit EDM Web Service that presents the relevant data in a JSON format. This allows a Seismic user to pull the latest mastered data from EDM at the time the user generates the report within Seismic. Reformis recommended this approach.

This integration work on one portfolio family demonstrated the power and ease of automating Seismic reports with mastered data so well the Investment Manager selected this approach for all existing and future portfolios.

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