Getting a handle on your market data is crucial
Containing data expenses, maintaining the integrity of access to fee liable and reportable proprietary data has never been more challenging and crucial due to market volatility, legacy applications, and the availability of technical workarounds.
Looking for new revenue vendor firms are focusing on non-compliant application usage to achieve their growth goals
Organization structure and setup when it comes to governance and best practices around application access and consumption of fee liable data has become a large focus from exchanges and 3rd party service providers hungry for revenue growth through audits. Third party P&L, front and back office systems, directly sourced data as well as derived data and redistribution is a particular area of focus.
Most firms have a line of site and have controls around fee liable data permissions for desktop users, but hundreds and thousands of application with systemic downstream, distributed accesses can be nearly impossible to control, almost like a treasure hunt with a metal detector on the beach!
Empowering field level application authentication and authorization usage for immutable data storage access
Intelligent Data Platform (IDP) brings together state of the art immutable data storage, application authentication and authorization to the field level. If your smart order routing, execution management, risk management or fund accounting system have large, high performance and expensive data needs, IDP can handle these requests and maintain compliance around access to data sources, and comply with programmatically derived usage rights.
Intelligent Data Platform Benefits:
- IDP is implemented on a state-of-the-art, cloud-based cluster running Apache spark. The cluster fully supports continuous availability and readily scales with load requirements, ensuring our service is always responsive to clients’ needs,
- IDP’s data architecture authenticates users of the applications. Once connected with the IDP API, authorization (e.g., permission) of those programmatic users is available down to the field ensuring contract compliance.
- IDP’s service provides a single source of truth destination accessible to anyone across the organization that is authenticated by source ID and IP address, and authorized down to the field level for fee liable services.
- Full audit trail is captured for vendor or business usage reporting.
- IDP creates cost saving efficiencies by preventing unfettered and non-required access to fee liable data, storing that data internally for future use, thereby reducing the number of requests made to a fee liable connection by netting duplicative requests
West Highland Support Services is a vendor-agnostic managed service provider, recognized globally as an industry authority and thought partner for market data, referential and professional services for over 20 years.
West Highland is referred to as “The Gold Standard” for managing, installing and architecting robust market data platforms. We continue to lead the industry with innovative tools and services that increase visibility, manage capacity and maximize uptime while reducing overall operating expense.
To learn more visit www.westhighland.net
