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April 30, 2007
Broadridge, GoldenSource and IBM Partner to Offer Hosted, Integrated "Golden Copy"
For firms that have multiple security master files, or for some other reason realize that they need a better way to manage reference data across the board, but lack the time and resources to do the necessary data cleanups, data distribution and data integrations, Broadridge (formerly ADP Brokerage Services), GoldenSource and IBM teamed up today to announce a joint solution.
The new offering, called Global Reference Data Solution, was pulled together by Broadridge, which will run the software in its data centers and can provide data scrubbing for those that need it. Broadridge normally offers clearance and settlement solutions. "We needed to be able to pull in data from multiple providers and distribute a 'golden copy' to any application that needs it," said Richard Stumm, vice president of Broadridge, at the SIFMA show today.
The software engine the company chose to accomplish this is GoldenSource's reference data management software, which has interfaces to all the major market data feeds and acts as a funnel for them, using business rules to compare pieces of data and highlight discrepancies and anything that doesn't make sense. "Once the data has been repaired, it can be published throughout the company," said Tim Lind, senior vice president of GoldenSource.
Enabling existing applications to ingest this GoldenSource/Broadridge data is IBM's job. "We hear from clients that downstream integration is 60-80% of the work" of such projects, said David Gertler, associate partner in IBM's Business Consulting Services. Such integration work can take a long time, but IBM provides deliverables every two months, he said.
Posted by Penny Crosman at 05:28 PM
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