SMARTSTREAM
20.1.2021 10:02:11 CET | Business Wire | Press release
SmartStream Technologies , the financial Reference Data Utility (RDU) solutions provider, today announces the launch of its Application Programming Interface (API) suite – for quicker access to services providing accurate data, with improved customer service, operational efficiency, greater agility and competitiveness. The new fully comprehensive API service will benefit financial institutions by saving huge amounts on infrastructure costs, as well as an affordable service which is straightforward to deploy.
Financial institutions are now realising the need for change, with many currently engaging in digital transformation projects including the implementation of APIs. RDU services currently fall into two categories: security reference data and regulatory reference data. Security reference data solutions available on an API basis will include a listed derivatives service, with data sourced from over 100 exchanges and comprehensive coverage for options, futures, options on futures and calendar spreads, and an equities service. Early 2021 will also see a fixed income solution that can be accessed via an API.
It will also be possible to access the RDU’s regulatory reference data services by API. Firms can tap into the RDU’s MiFID II solution and the Systematic Internaliser Registry – the latter offering complete clarity into the systematic internaliser services available across Europe, down to the individual security level. The SFTR enrichment API will also continue to be provided.
Linda Coffman, Executive Vice President, SmartStream RDU, states: “As APIs become essential in most banking organisations and in continuous discussion with our clients - we managed to provide them with a convenient cost-effective means of obtaining the specific data they want, with no complex time consuming and expensive technology projects, and with no master database necessary. We are enabling them to remain competitive in a progressive world of APIs. In addition, the technology’s appeal lies in its ability to facilitate digital transformation without the need for a total overhaul of existing infrastructure – which, as firms have often found in the past, can be a costly, risky and a disruptive exercise”.
Rocky Martinez, Chief Technology Officer, SmartStream RDU, commented: "The RDU is positioned to provide industry reference data disruption to every level of the investment industry, from the small buy-side investors to large sell-side organisations. By removing the large resource barrier to normalised, cleansed, and accurate data, organisations can quickly create and implement new algorithms, client strategies, and increase revenue. I am very excited about the future and the benefits that our APIs suite will have with our customers".
APIs open communication conduits between programmes whereby systems can be joined up across operations or electronic data from external sources fed in, breathing new life into legacy infrastructures. SmartStream goes to great lengths to maintain the highest level of accuracy, cleaning and verifying data carefully and making it as accessible as possible to users. Created by teams of highly skilled developers, data scientists and industry professionals, the RDU’s suite of APIs has been devised with ease of deployment and access in mind and has also been extensively tested.
Accessing reliable reference data is becoming more vital than ever. For firms burdened by legacy architecture, or under pressure to keep costs to a minimum, API services supplying high quality reference data offer a much needed helping hand, allowing systems to be digitised, but without the disruptive impact usually associated with overhauling technology infrastructure.
Ends
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