Project Recovery – Security & Issuer Master Implementation

Background:

A Large Global Fund Manager undertook the implementation of a Security Master and Issuer Master in an effort to decrease reliance on a data vendor and reduce operational cost.

The initial implementation consisted of extracts from:

  • CRD
  • Bloomberg Per Security
  • Bloomberg Back Office
  • Bloomberg Credit risk files

Also in scope was the development of a Reporting UI tool that the business could use to query the Security Master.

Reformis Solution

The client’s vision for the Security Master was:

  • Cleansing, matching and mastering of all Bloomberg Per Security, Bloomberg Back Office and held records from the back office application
  • Development of separate data models for Equity & Fixed Income Masters
  • Creation of UI query tool so business users can attain Security Master Data
  • Publishing of cleansed data to Compliance Engine

Project Recovery: Reformis was engaged mid-implementation after it became clear that recent and relevant experience of this type of development was necessary to ensure success. The Reformis team were charged with reviewing progress on deliverables and rebuilding those elements that were found to be unfit for production. Industry standards and Reformis methodology reflecting our extensive experience were proposed, accepted and implemented. Our client’s internal staff was re-trained on all application processes.

After five months of recovery, Reformis delivered an enhanced client solution. Accuracy of security data match increased from 50% to over 99% (on metrics specified by the client). Refined code allowed for seamless publishing of data to CRD and to the client’s compliance engine. Business users were given the ability to select reports and request securities seamlessly using the newly developed web UI. The client commended the Reformis team for work ethic, professionalism and efficiency.

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