Client Solutions Enabled by Magtia
We helped a Tier 1 investment bank to migrate over 200 applications from a legacy market data consolidated feed to an alternative solution without the need to re-code any applications.
Magtia’s daily mapping files enabled continued use of legacy symbology in conjunction with the new consolidated feed using alternate symbology.
The vendor-agnostic architecture now in place puts the client firmly in control when market data contracts have to be renegotiated.
Cloud based multi-tenanted services
As investment houses increasingly move their applications to the cloud, system vendors are looking to provide a multi-tenant solution. However, multi-tenancy provides a number of challenges, not least in terms of licensing restrictions relating to the use of data in this way.
To facilitate a solution, our client had to select an alternative vendor for reference data which allowed for multi-tenancy usage. Magtia’s symbol mapping enabled the services within the web solution to interoperate seamlessly, enabling the vendor to select the market data service that most suited each element of the cloud service they provide.
Dual sourcing for added resilience and quality
Using Magtia’s daily maps, a premier fund administrator benefits from the ablity to dual source all exchange prices to bolster its central pricing service. Our solution cross-references all instrument identifiers across two major consolidated feeds every day before markets open, including any changes and corporate actions.
Our client is now able to offer a dual source price-checked service, providing clients with extra confidence whilst also reducing operational risk associated with dependence on a single source of exchange prices.
Client symbology agnostic integration
Our client provides web-based portfolio management technology and outsourced services across all investment management and trading functions, including quantitative support, risk analysis, operations, treasury and regulatory reporting.
Thanks to Magtia’s just-in-time cross reference service, the client can process any portfolio delivered to them in any symbology as the Magtia XMAP service translates the data into the internal incumbent system’s symbology.
This means that our client no longer faces any issues with symbology used by their clients, enabling much smoother and faster on-boarding of new business.
Disparate data vendors in front and back office
A Fortune 500 company offering clearing & execution services was looking to renegotiate its market data contracts. To take advantage of the best data deals, their systems would have to use different vendors in the front and back office systems.
Our solution neutralised the issue of symbology mapping, enabling the client to negotiate the best contracts based on services and costs and quickly migrate to the new feed provider without disruption.
Leveraging direct feeds
A Tier 1 bank wanted to extend the use of market data from a direct feed for its execution business to all applications on the bank’s TREP infrastructure.
Magtia’s daily maps enabled the removal of redundant data sources, thereby leveraging investment in the direct feed to realise large savings.