Project Description

Top 10 Global Custodian streamlines Global Reference Data Operations with GAIN Security Master

One of the world’s top 10 global custodians uses GAIN Security Master to support the company’s global data operations.

The client is one of the world’s top 10 global custodians with USD 3 trillion in client assets under administration.

The client was looking for a robust and reliable solution to streamline its global data operations servicing its global custody and global fund administration business lines. The firm was relying on a legacy bespoke security master file which was not designed to support the new business imperatives of growth and operational agility set by the firm. Another objective was to maintain full control over data usage and data costs.

AIM Software was chosen as a result of a wider selection process involving all leading data management suppliers to the industry. The Top 10 Global Custodian is using GAIN in its global data operations to streamline the on-boarding and updating of reference data.

A Senior Manager for Data Service Delivery Initiatives commented: “We selected AIM due to a combination of its track record within the Fund Administration and Global Custody industry, and its Business Application approach to data management. In addition, GAIN was chosen due to the level of flexibility available to business operations to accommodate future changes.”

The first scope of the project focused on automating the 300+ instrument setup operations daily, operated 24/7 by three teams present in North America, Europe and Asia-Pacific.

The system creates golden-copies of instrument and issuer data from multiple data vendors including Bloomberg and SIX Financial Information.

The sourcing of the data from vendors leverages the intelligent data sourcing feature of GAIN: data requests are analyzed and then optimized before execution, in order to leverage the reference data already acquired before incurring additional costs. This reduces the number of requests executed and multi-hits, hence multi-hits and the data vendor costs.

The system automatically aggregates and controls the data against defined data quality rules, raising an exception when these rules are not met. Data operators can more quickly identify the most urgent work item by prioritizing tasks based on various parameters. All information needed is readily available to solve data quality issues in a timely manner.

Finally, the product provides data operation users with the unique ability to steer them through a comprehensive set of parameterization, dashboard and monitoring screens. This includes changing mapping of data vendor codes, derivations and selection rules. All this can be performed directly by a business user and does not require any IT knowledge.

“… GAIN was chosen due to the level of flexibility available to business operations to accommodate future changes.”

Head of Data Service Delivery at Top 10 Global Custodian

This has enabled the firm to optimize operational costs, improve client services, and ensure consistent, high quality data across its suite of services for institutional investors from 18 locations across North America, Europe and the Asia Pacific region.

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