Today’s modern derivatives trading environment is driving change in the use and application of reference data to automate interoperability and enable efficient trade processing. The need to connect internal and external trading components and to manage electronic market connectivity, programme trading, regulatory reporting risk management and quality of service are, all critically dependent on good quality and timely delivery of data.
The goal of seamless processing, from order routing through to clearing and settlement, is essential to shift scarce organisational resource to focus more on exceptions and is a natural response to the major challenge of scalability of in-house and vendor solutions against a backdrop of significant trading growth. Quality data, formatted fit-for-purpose to connect trading components, can produce efficient workflows with significantly reduced implementation costs.
Symbol identifiers enable trade data to be passed between many functional platforms and are an essential solution in the complex and component based architecture of modern trading operations. Symbology translations enable sell side firms to offer trading, risk management and clearing and settlement services whatever the preferred buy side’s platform of choice.
For firms providing brokerage services, symbology data feeds enable the seamless on-boarding of new clients, who may use differing technologies for market data, order execution and portfolio management. Firms that use the Xymbology feed can gain a competitive advantage in winning new business, more often than not by a switch sale, with minimum disruption and high quality of service.
Euromoney TRADEDATA is an independent business with an industry neutral position, a strength that encourages multi-vendor participation in this specialist area of symbol mapping. This makes our Xymbology service the leading smart data feed of instrument data enriched with root or trade series level symbols, mapped to key market data and back office vendor identifiers.
Xymbology feeds allow orders from client platforms to be instantly mapped into clearing and settlement systems. Open positions can be dynamically tracked for clients by using the same symbology to retrieve real-time prices from market data connections and produce reports with enhanced attribute information.
Since the introduction of Xymbology in 2004, we have worked with our clients and alliance partners to build both choice and competition in services offered to the buy side community. This has enabled sell side firms to improve the quality of service to their clients through unrestricted support of vendor platforms.
In addition, the application of cross-vendor symbology mapping has improved middle office risk and portfolio management and for the back office it has enhanced efficiencies in straight-through-processing for clearing and settlement.
Clients that benefit from our services include global banks, dedicated derivative houses, exchanges, independent software vendors, regulators and publishers with data distributed to the EMEA, Americas and APAC geographic areas.
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