First Derivatives plc said today that Thomson Reuters pricing and reference data group has chosen and implemented FD’s Delta Data Factory (DDF) for use internally as a component in its data delivery strategy.
The announcement follows FD’s recent launch of DDF a hosted data factory service for reference data as well as the formation of a dedicated data management division.
According to today’s release, Thomson Reuters selected DDF as a managed service “data formatting factory” to assist in its strategy to rapidly meet the formatting and workflow requirements of its clients.
“We selected FD’s Delta Data Factory because of the flexibility and rapid implementation speed, powerful data transformation engine, data knowledgeable team, reliable hosted infrastructure and global support model,” according to Tim Rice, managing director of global pricing and reference data at Thomson Reuters. FD’s independence as a strong third party service provider was a factor in Thomson Reuters decision, stated Rice, adding it “supports and accelerates our plans allowing clients to leverage our data quickly.” Thomson Reuters is live with a number of clients.
In a prepared statement, Dale Richards, president of FD US and global head of data management at FD, commented, “The service is a powerful new model for the data industry and TR implementing and going live is a terrific endorsement of its capabilities.”
DDF is a managed service support model that includes software, expert data staff, support level management, infrastructure, customization tools, hosting and management. FD provides the factory working with clients to implement the best strategy for them, according to the release. FD, a provider of software and consulting services to the capital markets industry, has been hosting and operating systems on behalf of clients for 15 years with IS027001/SAS70 compliant operating centers.
In addition to data vendors and publishers, financial institutions use DDF to outsource the processing and normalization of multiple inbound reference data sources into an electronic data management (EDM) or proprietary security master environments. Firms also use DDF to produce customized outbound formats for their internal clients.