Financial institutions need to consolidate positions and transactions from various internal systems to achieve a holistic view of portfolios and associated risk.
At SIFMA Financial Services Technology Expo, GoldenSource Corporation, a global provider of enterprise data management (EDM) solutions for financial institutions worldwide, today released its Data Warehouse solution, which will help customers achieve these consolidation goals by creating an enterprise wide view of data from various operational and decision support systems, and housing it in a single repository.
By linking data elements relating to the same object, the Data Warehouse will create an enterprise-wide view of risk, performance and compliance for clients, particularly in the asset management community, who need accurate and comprehensive end-of-day reporting. Buy-side customers will no longer need to build a warehouse on top of their data model or hire teams to construct it for them, saving the firm both time and money.
"Disparate market events continue highlighting the fact that capital markets as an industry faces an urgent need to bring more transparency, coherence, and speed to data. Firms that think their T+1 or worse risk picture is good enough are rolling the dice. If recent events have shown us anything, it is that mixing real-time and historical data across all trading activity to provide an accurate intraday picture of exposure is a base requirement and I expect will ultimately be a regulatory requirement," commented Adam Honoré, research director at Aite Group.
"Firms previously operated siloed systems in different locations, making it difficult to have consistent reporting and get a handle on risk exposure and positions across the organisation. Some firms have dozens of position keeping systems. We are addressing this market need with the Data Warehouse solution, which can be taken as either a component of our core offering or as a standalone product," said Mike Meriton, GoldenSource CEO. "We're already helping two firms consolidate data from different systems in this way. We are enabling them to quickly and e and easily make changes required by impending regulatory requirements which are pressuring them to deliver increased transparency, consistent reporting and centralised access to data."
The GoldenSource Data Warehouse will help improve analysis and reporting providing asset managers with a quick, single view of their customer's portfolios. Traders, middle and back office managers will, in addition, have an enterprise level view of risk and exposure.
A key differentiator of the Data Warehouse is that data will be gathered and held even after being purged from its original system location, maintaining compliance with regulatory standards. Providing additional ease of use, the Data Warehouse will be accessible over the web, and include improved data visualisation features and reporting detail such as a schedule of realised gains and losses, purchases and sales, funds under management by asset type, bond holdings by maturity detail and rating, securities, accounts, positions, total account value and NAV for funds.
Available now, the GoldenSource Data Warehouse can fully integrate into the GoldenSource platform, and can incorporate seamlessly with existing GoldenSource reference data solutions.