Syn~ the Global Broker Services division of GBST
Reference Data
Manage complex data interactions between transaction engines and central data sources, with unprecedented STEP, more streamlined operations and improved risk management
Customer focus
All organisations with a multiplicity of processing systems all using common data
Benefits
Material cost savings by consolidating customer creation and management process
Significantly better STP through increased data integrity
Coherent representation of all customer facing data
Improved risk management capabilities
Streamlining of overall party management workflow
Challenges and solutions
Every organisation in the securities industry has a multiplicity of processing systems all referencing common data and shares the challenge of ensuring that information is up-to-date and available to the systems that need it, on demand. While recognising that poor reference data is already a major cause of straight through processing (STP) failure, today banks and brokers must cope with increasingly complex interactions between central reference data and distributed transaction processing systems which further exacerbate the problem.
Syn
Reference’s unique paradigm for modelling everything to do with reference data simplifies and speeds up the creation of new product types, customers and markets, changing behaviours and managing complex lifecycles. This embraces scrubbing of inbound data, authorisation rules, golden copy generation and distribution.
SynReference is first to also offer automation of straight through exception processing (STEP). As well as providing an enterprise common repository for party data, SynReference provides a comprehensive workflow-based framework for managing the data lifecycle on a ‘just in time’ basis and a means to transform and transmit this common data to recipient systems either by a ‘push’ or ‘on request’ mechanism.
Featured customer
Mitsubishi UFJ Securities International plc (MUSI)
Don Simpson, managing director of operations and technology
MUSI uses Syn
for settlements and reference data and has achieved STP rates of 95 per cent. “SynReferenceData has also provided us with a platform for increasing volumes five or tenfold without requiring an increase in staff.”