Charles River Development has officially launched a new data management platform that will help fund managers integrate reference, issuer, benchmark-index and pricing data into their front- and middle-office applications.
The Charles River Data Service is part of the company's integrated Managed Services products, which include trade order management, compliance, execution management and performance measurement.
"As the volume of data feeds surge, concerns over data costs, complexity and errors also grows," said Brad Haigis, director of data services for Charles River Development. "If data is not properly fed into a system or is mismapped there can be severe repurcussions in user satisfaction, productivity and accuracy."
Such problems most often with fixed-income assets when firms try to do the integration on their own or rely on commercial data warehouses. The Charles River Data Service, now used by four fund managers, reduces the potential for error by aggregating data, validating it and delivering it into Charles River's investment management system through direct feeds from data sources. The service will allow fund managers to audit the dtaa and help setting up new securities for trading.
-- This article first appeared on Securities Technology Monitor.