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You have an application that
needs a Security Master
Now you just need to get one. Unfortunately, as you
are probably finding out, no one will "just sell
you one." Unfortunate, but true. This is due to
a couple reasons:
- Security Masters are dynamic. Depending on trading
styles, your Security Master may be out of date the
day after you bought it.
- A full Security Master that included every possible
security that one might trade, with every possible
field would be extremely large and unwieldy to actually
"sell to someone."
- There really is no single source of data that has
all fields of all asset types that you might need.
There are many data providers that try, but none exist
that can possibly satisfy everyone.
- Even if a single provider has all the fields you
want, they are more than likely spread out through
several different products requiring different agreements
and different data feeds, and none of them come together
in a single "file" or database.
As you are finding out, in order to have a fully functional
Security Master, you almost always need to have at least
2 if not 3 or more data sources to fill your Security
Master. Further you need other analytic tools and resources
to research assets that aren't immediately obvious or
which are quite complex.
For even the simplest applications, a dedicated employee
will need to spend a part of their day, every day, simply
maintaining the Security Master, in addition to dealing
with the complexities of keeping your application running
smoothly. If there is any significant trading volume
of a variety of products through the system, you will
quickly find you'll need a team of people. Larger firms
have entire departments dedicated to Security Master
research. At a bare minimum you will need at least one
dedicated analyst, and a person to back them up, not
to mention IT support people to implement and maintain
the data feeds, developers to consolidate feeds and
integrate them into your application.
We can help with all of this.
What we'll do:
- We'll come in and look at your reporting and data
needs. We will work with you to deconstruct your reports
to determine the necessary underlying data fields.
- We'll determine what sort of assets you work with
and what relevant fields you need.
- We'll work with you to find an economical combination
of data providers and help you get set up with them.
- We'll then access these feeds directly, on your
behalf, and consolidate them together.
- We'll create a set of procedures with you to support
your nightly or quarterly data processing and ensure
that as new securities are encountered, their flagged
and identified as soon as possible, and update your
Security Master.
- If an security falls out of the realm of your existing
data providers for some reason, we can research it
to understand (a) what it actually is and (b) why
it isn't in your current set of data feeds, and what
step needs to be taken to correct the issue.
- On an ongoing basis, we'll check the validity of
existing data and look for errors or omissions in
your Security Master Database.
Learn about the features of our Security Master Service's
Frequently Asked
Questions about the SMS
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