Netik upgrades reference and market data technology

Source: Netik

Netik, the global financial data management and reporting vendor, is today launching Netik Container v2.0 upgrading its Netik Global Securities Master solution, Netik GSMSM, to give firms complete local control over reference and market data.

This further underwrites the ability of the Netik GSM solution to deliver proven cost savings of over 30%.

Netik GSM, a managed service for the acquisition, cleansing, consolidation and distribution of reference and market data, delivers 30% cost reductions and round-the-clock support allowing clients to focus on their core business. Netik's 'on-site' container technology platform was developed following Netik's purchase of Capco Reference Data Services (CRDS) in early 2008 and the subsequent integration of components from their leading data warehouse with the managed data service.

With Netik Container, Netik is responding to the need for firms to retain control and apply their own specific, and often proprietary, rules to their reference and market data prior to its ultimate distribution to their consuming applications. Netik Container enables clients to manage, change, authorize and distribute, not only the cleansed reference and market data arriving from the Netik GSM service utility, but their own data as well. Netik Container facilitates the communication of securities of interest to Netik GSM and streamlines downstream distribution as it fully integrates with consuming client side applications as well as the Netik GSM data source.

John Wise, Chief Executive Officer of Netik, stated, "We recognize our clients' need to be in charge of their own reference and market data. Netik GSM, together with Netik Container, truly empowers our clients and provides them with the best of both worlds; the benefits of cost reductions and high quality data from a fully managed utility, combined with the ability to manage and control their own data from an 'on-site' container. It delivers the highest quality reference and market data and puts the control back into the users' hands."

Netik has interfaces to all the major vendors and exchanges and is an agent for over 100 different feeds including Bloomberg, Thomson Reuters, Six Telekurs and Interactive Data.

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