SmartStream partners with data vendors 11 December 2015London Reporter: Mark Dugdale
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SmartStream has signed up seven data vendors to its new bank-backed Reference Data Utility (RDU).
Euromoney TradeData, Exchange Data International, Interactive Data Corp, S&P Capital IQ, S&P Dow Jones Indices, SIX Financial Information and Thomson Reuters have all agreed for the SmartStream RDU to process their data on behalf of mutual customers.
Markit and SmartStream are also working towards integrating Markit’s credit default swap reference data within the RDU.
Goldman Sachs, J.P. Morgan Chase and Morgan Stanley teamed up with SmartStream in October to create the new reference data utility, which is informally known as Securities Product Reference Data (SPReD).
The RDU provides clients with an environment for data collection, cleansing, and change management based on customised integration standards to generate a flexible, bespoke security master database.
Philippe Chambadal, CEO of SmartStream, said: “As we talk with our clients and prospects, they want to spend more with their data vendors, not less—as a result of regulatory initiatives or to add value to their businesses. The RDU’s mission is to lower the cost of processing reference data.”
“Delivering on that mission creates opportunities for data vendors as we open up space for additional spend and as we lower data integration costs—one of the biggest barriers to purchasing more vendor data. We welcome the prospect of working with each of our data vendor partners to build more value for our mutual clients.”
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