Tap Solutions launches data cleansing and management tools

Source: Tap Solutions

TAP Solutions chose the 2005 SIA conference in New York City to launch TAPMaster Editor and TAPMaster Consolidator, two new market and reference data management modules to complement their leading data acquisition and deployment platform for the global financial services industry.

"We are thrilled to announce the availability of the new Editor and Consolidator product modules," says Marc Alvarez, EVP Products and Marketing at TAP Solutions. "For our customers, these two new additions significantly extend the already considerable power and functionality of TAPMaster to provide reference and market data on demand across the enterprise. With these new tools, firms can regain control of their data and customize its usage to fit their business needs."

Editor provides full editorial control of client data content, whether internally generated or externally acquired from vendors like Bloomberg, Reuters, FTID, S&P, Xcitek, and Morningstar. Editor is turnkey functionality, allowing users to detect, modify, and commit changes and corrections to their production database. The module detects suspect data, identified either automatically by the system or by business users, and provides full workflow control for review and approval. In addition, the same interfaces are available for users to contribute their own content to the database, including adding new securities records to support their business operations.

Consolidator produces single composite records across all customer data sources in real-time, leveraging the original TAPMaster dedicated composite database. Tools include: data priorization based on a customer's preferred data sources, asset classes, and data types required for the business; real-time updating of the consolidated record in priority order as new data is made available; and complete management and reporting control using built-in web based interfaces.

"Customers know what data they need to run their business, but unfortunately it arrives in widely varying quality from multiple sources, in multiple formats, during multiple times of the day," says Mr. Alvarez. "TAPMaster is a proven platform that unlocks that data from legacy systems, empowering firms to decide what data they want and when. With the addition of these new, sophisticated data management controls they have a turnkey securities data hub running right out of the box."

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