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The iGATE Patni Solutions Guide to Comprehensive Reference Data Management

For years, reference data has been a necessary, inconspicuous player, basically ignored as a cost of doing business and purchased as needed to support operational silos. As trading volumes increased and customers demanded greater efficiency and accuracy (with fewer failed trades), and as regulators required greater transparency and accountability, the role of reference datawhich includes important classes of data such as legal entity and counterparty datahas taken on a greater significance to the organization.

A New Approach towards Reference Data Management Architecture


New approaches are needed by the industry to stem the onslaught of dynamic regulatory requirements, corporate-mandated cost reductions, and improved governance demanded by senior risk officers. iGATE Patni has deployed new methodologies, proprietary software, and tools from industry leading software vendors to tackle the reference data management challenge. There are many 3rd party providers of point products that focus on specific elements in the chain of reference data management, but do not have a holistic view of the complexities surrounding the life cycle of reference data. iGATE Patni is in rare company with its end-to-end capabilities and consultative approach.

Assess

Automate

Assure

Assessment and analysis of your enterprise architecture and reference data flow. Develop a point-in-time understanding of volume, source flow, and distribution of data.

Index, clean, and normalize all data elements from various asset classes through automation and expert inputs.

Assure standardized reference data is available from a central repository for downstream use through manual data cleansing, new securities setup and corporate actions processing.

In its simplest form, the architecture that supports and defines Patnis reference data management solution covers three fundamental components of the data life cycle: Assess, Automate and Assure. These components represent a unique, holistic approach to reference data management that meets the rigors of contemporary data governance, cost reductions, and regulatory compliance.
Banking and Financial Services

Comprehensive Reference Data Management Solution


Based on the fundamental components of the data life cycle, iGATE Patni has developed a holistic, nine-step solution for end-to-end reference data management. Our Reference Data Management Solution (RDMS) enables a company to manage the entire reference data environment from vendor data rationalization to enterprise reference data architecture design and integration, and from indexing to automated data cleansing and distribution.

Holistic RDMS Offering


Reference and Data Rationalization (RADAR) Index and normalize securities data Manual data cleansing support New securities setup Reference data efficiency dashboards

Supporting Enterprise data architecture assessment

Core Managed RDMS Offering Automated data cleansing systems Corporate actions processing

Supporting Enterprise reference data distribution

The RDMS has nine solution components which are designed to address client specific requirements during the reference data management lifecycle. iGATE Patnis solution can be implemented either as a complete end-to-end solution or implemented individually. iGATE Patni consults with its clients to determine which approach will be the most effective. The nine modules are tied to operational best practices and are further supported by best-of-breed industry software tools.

Reference and Data Rationalization (RADAR)


The RADAR solution allows you to focus on the incoming reference data feeds as well as downstream data distribution. The RADAR process workflow identifies, catalogs, and evaluates all vendor and internal reference data feeds and creates a cross reference of each data element. It will indicate purchase frequency, data duplication, and data distribution patterns. This allows iGATE Patni to build a cost savings and risk mitigation plan tailored to the operational needs within a particular group, or across the organization.

Enterprise Data Architecture Assessment


Creating a central or federated model of data management should take into account the organization context. An effective, low risk approach needs to be truly holistic which is why iGATE Patni explicitly includes reference data in its discovery and analysis process so that any implementation of an enterprise architecture incorporates reference data at its core.

Index and Normalize Securities Data


Using a set of industry standard tools, iGATE Patni can create a consistent single enterprise-wide key matrix for all securities. This matrix becomes the basis for unique security identification and data distribution.

Automated Data Cleansing


iGATE Patni supports major rules-based commercial or in-house reference data cleansing systems to process reference data with the goal of creating a golden copy of data. The automated system gets you to about a 70% clean level, quickly, through a starter set of feed handlers, an instrument logical data model, and basic cleansing rules.

Manual Data Cleansing Support


Complex asset classes are more likely to generate exceptions through the daily cleansing process. This is especially true with pricing. Automated data cleansing is not enough to create and maintain an accurate security master file (SMF) and needs to be augmented with manual cleaning support to achieve a higher level of clean data. Manual data cleansing support is handled by iGATE Patnis experts either working offshore, or nearshore depending on data handling and security rules. Our goal is bring your reference data to a 99% clean level so that downstream users can be confident of its accuracy and usability.

Corporate Actions Processing


Corporate actions need to be applied to the SMF to keep it accurate. Corporate actions data feeds can be automatically applied but in more complex situations such as electives, our offshore experts can work with you to ensure accuracy of the SMF. iGATE Patni continuously monitors the corporate actions feeds and applies them to the SMF automatically with manual support for complex electives.

New Securities Setup


New securities which are simple can be set up automatically using vendor feeds, but in the case of complex asset classes our offshore experts can rapidly analyze term sheets to manually set them up in the SMF.

Enterprise Reference Data Distribution


Data Distribution from a central repository is a key outcome and expectation from the Reference data management program. iGATE Patni enables BOCADE (Buy-Once-Cleanse-And-Distribute-Everywhere) reference data distribution across the enterprise.

Reference Data Efficiency Dashboards


Reference data efficiency dashboards supply up-to-date information on data flows, usage, exceptions, and more. Data managers, risk managers and others have real-time reports on how, where, and when reference data is being usedacross the organization.

Features of iGATE Patni Reference Data Management Solution


Enterprise Reference Data Planning services delivered by experienced professionals in reference data strategy and architecture to optimize the procurement, storage, cleansing, and distribution of reference data across functional groups and geographies. Establishment of a hub, which provides a universal security identifier across various data sources, both internal and external. Validation techniques for data items such as maturity dates, P/E ratios, durations, deltas, gammas, coupon schedules, etc. Augments automated cleansing systems with manual support from reference data experts to achieve 99% clean reference data. The RDMS Services portfolio includes: Reference data purchase de-duplication and identification of unused data Overall data management architecture and configuration Addition or modification of new or existing data feeds and asset types Data validation and inspection/exception rules management Customization of user interfaces Analysis and planning for data distribution to consuming applications Reporting and monitoring solutions iGATE Patni RDMS is offered as a single component, totally managed drop-in service integrated within a clients IT environment, or as individual components a client can select from to suit mission requirements.

Select Success Stories


Brought in new sources and systems for a global asset management company in a merger and acquisition scenario Data maintenance and control for one of the world's largest life insurance and pension group Facilitated reference data management solution for a leading global asset management company Simplified complex instrument processing for a major insurance and investment company based in the United States

Business Value
The benefits achieved from the RDMS solution: Savings
50% savings in Reference Data Management expense (Reduced Total Cost of Ownership) Elimination of large upfront license and maintenance capital expense Reduction in reference data feed costs by removing duplication

Accuracy
Nearly 100% accurate and up-to-date reference data Efficient and timely data distribution to all consuming systems

Flexibility
RDMS can be delivered as technology infrastructure in-house, managed or as a service Easier scalability through offshore resourcing Rapid speed of implementation and transition

Banking and Financial Services Expertise


iGATE Patni banking and Financial Services (BFS) has over three decades of experience delivering integrated IT and BPO solutions to meet the needs of financial institutions globally. Among the areas of domain expertise within our Asset Management and Securities practice are: Reference data management Operational fund accounting Financial control and reporting Reconciliation services
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Next Steps
Call our Banking and Financial industry experts on (001) 978-317-3641 in US or (044) 7827 927 810 in UK to schedule a no-obligation consultation on reference data management. For more information on our Reference Data Management services, visit our web site at http://www.igatepatni.com/bfs/solutions/reference-data-management-solution.aspx

REGIONAL HEADQUARTERS
NORTH AMERICA
USA
Fremont Tel: +1 510 896 3000 Fax: +1 510 896 3010 Toll Free No. : 877 92 iGATE/ 877 924 4283 6528 Cambridge Tel: +1 617 914 8000 Fax: +1 617 914 8200

EUROPE, MIDDLE-EAST, AFRICA


United Kingdom
Heathrow Tel: +44 20 8283 2300 Fax: +44 20 8759 9501

ASIA-PACIFIC
India
Bengaluru Tel: +91 80 4104 0000 Fax: +91 80 4125 9090 Mumbai Tel: +91 22 6693 0500 Fax: +91 22 6693 0211

Japan
Tokyo Tel: +81 3 3222 8031 Fax: +81 3 3222 8030

Contact: bfs@igatepatni.com
Copyright 2011 iGATE Corporation. All rights reserved.

www.igatepatni.com

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