USE CASE 1: Reference Data / LE Matching on Demand
The Intelligent Data Platform™ (IDP) for Reference Data is a big data solution that brings together Legal entity (LE) reference data, pricing, and analytics across all asset classes, security types and fields on a single platform. This unified platform allows you to easily and rapidly integrate traditional as well as alternative third party data into your inhouse applications and CRM systems via a REST API.
The Intelligent Data Platform™ (IDP) applies big data technologies as well as state of the art AI driven matching capability to create a managed or deployed mastering service with highly scalable data warehouse capacity for all required data attributes in one immutable cache on demand.
USE CASE 2: Authentication and Access Control of external fee liable vendor services
The Intelligent Data Platform™ (IDP) for Authentication and Access Control is a service that combines client market data subscription data from multiple vendors, manages user authentications and analyzes usage across multiple platforms, in order to ensure users are optimally permissioned for the market data they need, and also provides detailed reporting for audit and compliance purposes.
Accessing Reference Data for M&A, Research / Data Science, Trading, Risk, Compliance and Finance creates unique challenges for business, technology, and data managers.
The West Highland Intelligent Data Platform (IDP) helps firms access third party reference data from a single API, change or add sources seamlessly and easily ingest and integrate into their existing systems and workflows.
Intelligent Data Platform (IDP)
An agile tool that allows business systems to retrieve all required data attributes for millions of legal entities, contacts, traded securities and other data with minimal or no expense line impact, reducing costs across the enterprise.
Matching
LE matching is performed by IDP automatically, resulting in a golden record source of accurately matched global entities.
Symbology and Security Identifier Change Management
IDP’s big data technology maintains the lineage of any legal entity, symbol or security identifier to the parent entity based on appropriate business rules and industry best practices.
Machine Learning (ML)
IDP uses the latest ML techniques for improved matching capability and data quality.
Admin features allow for LE’s to be manually matched or overridden.
Vendor data can be compared and quality checked.
Times Series Analysis
Historical Store of time series for back-testing and investment analysis.
Source Management
Easily add or remove data sources as required.
ML based matching
Improved vendor onboarding, data quality and service availability on demand
Linked C-Suite, board contact information for active and inactive clients
Enhanced legal disclosures for prior deals via IDP dynamic legal entity hierarchy
Efficient vendor source mgmt.
Entitlements mapping per user & bank group plus compliance module
Custom Dashboards per bank group
Robust API for big data consumption
Centralized sourcing and 24/6.5 operational support
Low touch administration and lower TCO
One of the key contributors to cost of ownership of Market Data for Financial Services firms is the different data offerings from providers and the need for the firm to prove to the vendor or auditors that they are compliant with all the data use terms and conditions within the firm.
An example of this is users running a market data application (e.g., Bloomberg, Eikon) and also subscribing to that vendor’s data through an OMS/EMS platform. Since the client cannot programmatically prove that the user has the desktop the vendor may charge a second instance for the service.
Firms are paying twice for vendor services which is due to their inability to prove to the vendor that the same user is accessing the data from 2 different vendor platforms. Typically, it is an application license fee that is forced onto the firm and since it’s an application that could support 100’s or 1000’s of users this could add up to significant costs.
Intelligent Data Platform provides the capability to programmatically authenticate and authorize user’s 3rd Party applications with their market data desktop. It also tracks the usage of that authorization and login details such as how often a user is logged in, and what content a user requests, which is useful for compliance and audit reporting.
Intelligent Data Platform Benefits:
Better visibility into vendor application data consumption
Reduce and control spend by authorizing and authenticating applications
Full audit trail of usage for vendor reporting
