Leading global investment bank seeking single source of standardised reference data and multi-vendor symbol mapping

About the company

A market-leading US global banking and investment management organisation offering a comprehensive range of financial and risk management products and services to institutions, corporates, SMEs, governments and individuals.


This organisation has a complex, global trading ecosystem of multiple infrastructures, platforms and ‘end user’ destinations, applications, processes and workflows supporting different business areas.
The challenge

The client needed efficient ‘connectivity’ to multiple exchanges, trading venues and data vendors to source and manage derivatives reference data to support myriad pre-trade, execution and post-trade processes and workflows.

This connectivity is essential to mitigate data discrepancies that could lead to delays in order execution, or trade breaks. The process of gathering the data required to support trading and enterprise activities efficiently was an enormous challenge in and of itself. Different exchanges use different formats, creating programming headaches for internal developers tasked with ingesting this data into multiple systems.

Effectively managing the complexity of standardising, normalising and mapping data from multiple and disparate sources, and delivering it seamlessly to various front, middle and back-office applications (operating across complex, siloed and often legacy infrastructure) requires specialist knowledge and expertise across a range of venue connectivity, data engineering and data formatting disciplines.

As such, managing this activity directly is extremely costly and resource-heavy, with a higher risk of error and associated risk of financial loss, client dissatisfaction and reputational damage.

The solution
We deliver a single source of data that is normalised, validated, standardised and mapped before delivery, to multiple business areas within this bank.
A single, golden source of information
Same data supporting different systems and workflows

A single source of data, cross-vendor symbol identifier mapping (exchanges, execution venues and data vendors) and seamless data workflow integration supports a much more efficient global trading and transaction processing ecosystem for this client.

Specifically, FOW is providing core reference data for futures and options trading activity from multiple global exchanges, associated symbology mappings and a number of supplementary data files

We deliver a single source of data that is normalised, validated, standardised and mapped before delivery, to multiple business areas within this bank. The same datasets are delivered in the same formats to multiple client systems. Key to this activity is ensuring the consistency of the data itself across all processes in the end to end transaction lifecycle.

By delivering all data as a single ‘golden’ source, but in separate files, this client is able to build specific enterprise workflows, for example, sending trading and holiday dates to front offices and core data to middle office operations to support reconciliations.

The benefits
This client benefits from a consistent and trusted single source of reference data, multi-source symbology mapping expertise and seamless data workflow integration, contributing to a more efficient global trading and transaction processing ecosystem.
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    Reduction of complexity, cost and resource commitment
    By using FOW to manage its derivatives reference data management obligations with respect to the different needs of front, middle and back offices, the client is able to free up resources to focus on the revenue generating elements of its trading activity.
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    Data engineering experience and expertise, mapping and matching data across global venues and vendors
    For over 25 years, FOW’s specialist data and
    development teams have curated and built up a comprehensive, proven and highly competitive symbol identifier mapping service. This significant knowledge base, continuously enhanced Symbology service and specialist service support is very difficult for firms to replicate and maintain in-house, and is simply not available from major data vendors.
FOW Data Solutions used
Instant symbol mapping and dynamic tracking across front, middle and back offices
Customised, cost-effective data for exchange traded and OTC products
Trusted by the world’s leading financial institutions – here’s just a selection
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Get in touch
If you are looking for a consistent and trusted single source of reference data with multi-source symbology mapping integrated seamlessly into your data workflow - get in contact today.
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