Partners
‘Powered by GoldenSource’ products and services allow users to source standardised content from leading data vendors and other intermediaries, and combine it with their own enrichment and data distribution requirements. The ‘Powered by’ label is awarded to GoldenSource partners that provide value added processing and data services to the banking and investment industry. It certifies that the data management platform underpinning the partner’s service is based on the GoldenSource EDM suite. GoldenSource has forged partnerships with the majority-
owned subsidiary of Deutsche Börse, Avox, BusinessEdge Solutions, CounterpartyLink, Fitech Solutions, Fujitsu, Interactive Data, Investment Solutions Consultants (ISC), Kedrios, Oracle, Panopticon, PolarLake, Standard & Poor’s, Telekurs Financial and Thomson Reuters. GoldenSource, announced in March 2015, a business partnership with Intalus, a global IT consultancy firm specializing in the development, delivery and training of financial solutions. The two firms are collaborating to provide the most comprehensive WM connection available in the EDM market.
User experiences
An interesting project was at flagship customer, Daiwa Securities SMBC Europe (see earlier sections), the joint venture between Daiwa Securities Group and Sumitomo Mitsui Financial Group. As part of a larger systems overhaul within the group, it implemented a single static data layer, using GoldenSource’s platform, facilitated by Tibco’s middleware. The project started in May 2003, with GoldenSource felt to have an extensive, albeit complex, data model. That data model proved to be as comprehensive as anticipated, so the main development work was then to build interfaces to Bloomberg and Telekurs for securities descriptive, price, and corporate actions data. The GoldenSource solution was also taken to manage data from Daiwa’s own securities data feed which originated from the Tokyo head office. The GoldenSource solution facilitated a ‘vendor hierarchy’ system through which it was decided whether Bloomberg, Telekurs or Daiwa’s own data feed was the preferred source of data for different asset classes. By implementing this system, the preferred data vendor for each asset class was selected as the primary data feed and the other feeds were used to validate and cross reference the data from the primary feed. In mid-2006, GoldenSource gained a first win in the Nordic
region, at Nordea. This was a notable success as GoldenSource was particularly focused on European expansion around this time. The bank signed for the vendor’s EDM platform in the second week of June, having overcome strong competition from ‘internal resources’, and the ‘standard competitors’ in this field, according to GoldenSource’s VP for product management, Paul Kennedy.
In partnership with Intalus, GoldenSource is broadening this service by developing a fully maintained connection for WM Datenservice VF1, which will enable clients to automatically load WM data into GoldenSource’s market-leading EDM applications.
In January 2016, Options, a managed service and IT
infrastructure provider to the global capital markets, and GoldenSource, announced a partnership to offer a fully managed solution as a joint offering to clients, looking to improve their enterprise data management (EDM) capabilities. The partnership will witness Options deliver a fully managed, end-to-end application and hosting platform to clients leveraging GoldenSource’s suite of data management products and services. In June 2017, GoldenSource partnered with McObject,
developer of a database system for real-time and historical data analysis called eXtremeDB, to develop an EDM solution designed for regulatory compliance. In the same month, GoldenSource also came up with a derivative solution to help automate the ISIN codes required for MiFID II transaction reporting.
As a conglomerate, the bank was undergoing the
‘Nordea transformation’ project, which basically involved the assessment of how its businesses were being run, said Kennedy. ‘It’s looking at factors such as where its data resides, who looks after it, how the quality is maintained, and where it is distributed,’ he said. ‘They looked at us as offering a solution that would give them a single source of data.’ The EDM solution was to be deployed as a reference data management tool, specifically for the capture of pricing, reference and corporate actions data from multiple market sources. Once live, EDM would publish this consolidated data (the ‘golden copy’) in real-time across the bank’s trading, operational and regulatory reporting systems. GoldenSource was also to create a new connection for
Nordea that would stream data from the FT Interactive Data (FTID) source. This would allow the bank to call up the data source, capture the required data, map it into a data model which would then be pushed down to the target systems. This was in addition to the existing data sources, which included the likes of Reuters and Bloomberg. Three target systems were identified to receive data from all sources: trading systems, asset management and risk management. London-based Mizuho International is another taker of
360 EDM. The project will see the replacement of a number of in-house developed applications and came as part of a group- wide IT modernisation at Mizuho. IBM was appointed as the global strategic consultant for this. Neill Vanlint, managing director for EMEA and APAC at GoldenSource, hoped that the London project would pave the way to a broader deal with the Mizuho group. . In January 2015, Mizuho went live with Goldensource EDM platform’s master application - Customers & Counterparties., for automated client on-boarding and
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