SmartStream RDU goes live on Cboe Europe to bolster reference data coverage

Rick Steves

In addition to the 105 Market Identifier Codes (MICs) currently supported by SmartStream RDU, it will act as a processing agent, managing the complete data lifecycle

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SmartStream Technologies has announced the go-live with Cboe Europe, a new Amsterdam-based futures and options exchange, to further bolster its reference data coverage.

SmartStream’s financial Reference Data Utility (RDU) will make available Cboe Europe data to its clients, from Cboe Europe data to its Exchange Traded Derivative Service to allow users to mutualise the processes needed to manage the exchange’s data.

In addition to the 105 Market Identifier Codes (MICs) currently supported by SmartStream RDU, it will act as a processing agent, managing the complete data lifecycle – sourcing, validation, enrichment, cross-referencing, and critically applying cleansing best practices to deliver the highest quality data, in the formats required, the firm stated.

Linda Coffman, EVP, SmartStream RDU, commented: “We are delighted to welcome Cboe Europe to our extensive set of listed derivatives data. With this new collaboration we will be assisting our customers so that they are prepared and trading on day one with access to complete and accurate reference data. With our Exchange Traded Derivatives Service we will eliminate risk with full coverage reference data for all participants”.

SmartStream has recently launched an Exchange Notification Service (ENS) as part of its SmartStream RDU solution suite and developed in partnership with clients.

Designed to track, consolidate and normalize reference data notifications published by each exchange, the ENS service addresses the mammoth task of managing all subscriptions from more than 100 exchanges where derivatives are traded.

In conjunction with several clients, SmartStream realized that missing exchange notifications – due to multiple exchanges and formats – in the reference data space can be very costly.

SmartStream claims its Reference Data Utility (RDU) is the only service provider to produce a consolidated list of normalized notifications. ENS will be added to the suite so that firms no longer need to incur the operational overheads of manually monitoring these notices.

The service published intraday notifications immediately as they help drive quality improvements across functional areas, such as trading, risk mitigation, validating vendor notifications for corporate actions, and feed changes.

“Each exchange publishes notifications at various time intervals throughout the day and does not follow a standard template, or delivery method to publish the notifications used across the industry”, Linda Coffman said at the time.

“With this in mind and following conversations with our clients, we decided to build the ENS. The service overcomes these issues with real-time intelligence and encompasses all the information that a financial firm needs to manage its reference data from the exchanges”.

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