Buy-Side EDM Managed Service Case Study

Transcription

1 Client a Major New York Based Global Asset Manager Background Multiple, duplicated systems and processes used to manage reference and pricing data had resulted in inconsistent data quality and inefficient operations. Client resources were being employed simply to reconcile data across Order Management, Portfolio Management and Accounting systems in an effort to manage daily processing. The ability to meet business, regulatory and risk management demands was severely restricted. This resulted in a situation where in-house processing could no longer meet the functional and operational needs of the business. Requirement In order to meet the business demands, a requirement was defined to deliver a high quality data management environment to increase operational efficiency and reduce operational risk. The client chose to implement the Bloomberg Polarlake EDM Managed Service. A phased approach was adopted to cover: Pricing Master Security Master Security Set-Up Corporate Action Processing Full People and Technology Process Integration with the in-house system environment which included legacy Order Management, Portfolio Accounting and Data Warehouse applications Fig. 1 Managed Service Topology

2 Managed Service Components Price Master and Security Master The following Pricing and Security Master Functionality is delivered on a daily basis: Application of Client Business Rules The manufacturing of consistent Security and Price Master data through the standard process of applying client business rules to the vendor and internally sourced data. The pricing business rules include: Vendor feed on-boarding and management The Service manages and delivers vendor data sourced from Bloomberg and Markit including proactive liaison with vendors and client to pre-empt any breaks in the supply chain Client Data On-boarding Client data is on-boarded to the service and managed to the same operational levels as vendor data. - Pre-Order price content selection rules - Establishment of a Waterfall price hierarchy using both client and vendor pricing sources - Price Exception Handling and missing price processes - Mapping of pricing data formats for delivery to client Portfolio Accounting system, Advent Geneva. Monitoring and Exception Processing The client provides custom files including price data sourced from internal trade order management systems. Operational Intelligence Bloomberg PolarLake Data Operations provides continuous monitoring and delivery of the pricing and Security Master data production process from acceptance of daily client securities of interest files to the delivery of price and security master data. Managed Service dashboards display the status of client data uploads, vendor requests and data distribution providing transparency of the complete process enabling the client to make informed decisions quickly and reliably. Exception Handling Monitoring and resolution of exceptions. Delivery of resolved exceptions to downstream systems.

3 Security Set-Up Corporate Actions Processing In order for the service to fully meet the operational and data management requirements, it was essential to provide an industrial strength Security Set-Up process. A process which was not only complete but one which functioned at speed, was fully integrated with the current system environment and transparent. The service delivers this complete environment which client accesses through the Bloomberg PolarLake Workstation which provides: Security Search and Selection Matching and Integration of Multiple Instrument identifiers Data transformation and integration with client Order/ Portfolio Management systems and internal Data Warehouse A complete audit trail The managed service transforms cash dividend, stock dividend, and stock split corporate action data from Bloomberg Global Equity files to the formats required by the client internal systems such as Advent Geneva. The transformed data is available to browse and search via the Bloomberg PolarLake Workstation. The process is activated as part of the integrated automated daily process and may also be triggered manually to cover any exception processing. Fig. 2 Security Set-Up and Process Integration.

4 Process Integration - People Process Integration - Technology Bloomberg PolarLake Data Operations staff work in tandem with client staff to implement, monitor and manage industrial strength processes, creating a seamless data operations workflow between the Managed Service and the Client environment. The Managed Service Data Operations Activities include: Processing Procedures including Security Set-Up Exception Management Client Support Vendor Notifications - collecting, indexing, searching, and resolving vendor notifications. Data Validation Rules management for creation, testing, and implementation of validation rules In order for the service to succeed in providing high data quality together with timely, consistent processing and take full advantage of the data provided by the Service, the high performance technical integration of Geneva and Eze Castle portfolio management and order management systems was essential. This was achieved through the use of the Bloomberg PolarLake Agent Node which delivers seamless integration between the client s in-house proprietary or third party systems and the Managed Service ensuring the best possible client experience of the Managed Service. Fig. 3 Complete Data Integration Monitoring and Management

5 Asset Class Coverage The Managed Service covers a wide range of Asset Classes ranging from Asset Backed Securities to Warrants In total 66 Asset Classes are processed and managed in this client environment.

6 Result Buy-Side Case Study Through the Managed Service, the client has: Applied an extensive and fully audited Data Governance policy Significantly reduced processing times to fully meet business requirements Implemented a fully integrated Security and Pricing Master covering 66 security types without having to purchase or install software Removed themselves from the continuous software upgrade cycle and vendor feed management process Implemented a fully integrated Security Set-Up process On-boarded to the Managed Service in a low risk iterative process which began with the implementation of the Price Master and was followed by security Master and Security Set-Up Accessed in a single project an environment which provides: o o o BPO: Bloomberg PolarLake experienced Data Operations staff manage industrial strength processes based on client Data Management policies Software As A Service: Bloomberg PolarLake hosts, maintains and continues to invest in the Data Management systems in order that the clients does not have to. The system is transparently upgraded with added functionality and zero client service impact. This removed the client from the treadmill of software development and upgrades to Data Management platforms Cloud Computing: Bloomberg PolarLake maintained private cloud running Bloomberg PolarLake grid technologies processing over 1.4bn records per day, leveraging the economies of scale of the Bloomberg PolarLake infrastructure which is highly secure and independently audited by a 3 rd party tier 1 audit firm