SmartStream Technologies , the provider of financial reference data utility (RDU) solutions , today announces the launch of its suite of application programming interfaces (APIs) – for faster access to services providing accurate data, with improved customer service, increased operational efficiency, flexibility and competitiveness. The new comprehensive API suite will save financial institutions significant amounts of infrastructure costs, along with an affordable and easy-to-deploy service.
Financial institutions are now realizing the need to evolve, with many of them executing digital transformation projects, including the deployment of APIs. RDU services currently fall into two categories: Safety Reference Data and Regulatory Reference Data. Safety reference data solutions available on an API will include a referenced derivatives service, with data collected from over 100 exchange platforms and full coverage of options, futures, options on futures and spreads calendars, as well as an action service. In addition, a fixed income solution will be accessible via an API at the beginning of 2021.
It will also be possible to access RDU’s regulatory reference data services via API. Companies can rely on RDU’s MiFID II solution and the Systematic Internaliser Registry – the latter providing full visibility of systematic internaliser services available across Europe, down to individual security level. The SFTR enrichment API will continue to be provided.
Linda Coffman, Executive Vice President, SmartStream RDU, says: “As APIs become essential in most banking institutions and are the subject of ongoing discussions with our customers – we have succeeded in providing them with a convenient and cost-effective to get the specific data they need, without the need for complex and time-consuming technology projects or back-end databases. We enable them to stay competitive in a changing API world. Plus, added value technological lies in its ability to ensure digital transformation without requiring a complete overhaul of existing infrastructures – thus avoiding measures that are often costly, risky and disruptive “.
Rocky Martinez, Chief Technology Officer, SmartStream RDU, says: “The RDU is set to revolutionize industry benchmarks at all levels of the investment ecosystem, from small buy-side investors to large sell organizations. -side. By removing the barriers to standardized, cleansed, and accurate data, organizations can quickly build and deploy new algorithms, new customer strategies, and increase revenue. I am very confident in the future and in the benefits that our range of APIs will bring our customers “.
The open communication of APIs makes it possible to link systems between different operations or to collect electronic data from external sources, thus bringing a new lease of life to past infrastructures. SmartStream strives to maintain the highest level of accuracy, carefully cleaning and verifying data and ensuring maximum access to users. Created by teams of highly skilled developers, data scientists and industry experts, RDU’s API Suite has been designed with ease of deployment and ease of access in mind, having been validated through extensive testing.
Accessing reliable benchmarks is becoming more important than ever. For companies burdened by a past architecture, or under pressure to keep costs to a minimum, API services providing high-quality master data provide much-needed help, enabling systems to be digitized, without the disruptive impact usually associated with overhaul of technological infrastructure.