By: Cost Optics  05-Apr-2012

Vision is a market data inventory management system, built with the latest, open interface, development languages and engineered with flexible infrastructure architectures for any size of organisation. For years market data professionals have had little choice but to use legacy inventory management systems. These systems, while designed for the Market Data Professional, have not only failed to keep pace with the ever changing product and inventory in the market data environment, but have also failed to address the large, non-uniform nature of financial organisations. Market Data Professionals in turn have built procedures, systems and reconciliations to manage the deficiencies.

Vision frees the Market Data Administrator from this inflexibility. By reconciling market data inventory back to the original vendor contracts and access control systems, while abstracting the data across a varied and non-uniform organisation; Vision creates an operational flexibility to the Administrator that was previously unavailable.

Vision’s goal in this is flexibility: Quality, Easily-accessible Management Information. From this goal we achieve accurate ledger posting, liability control and spend efficiency; allowing your department to correct data, without continually double guessing your moves.

Vision achieves this through the leverage of mature, yet recent technologies:

  • Cloud based infrastructure: Delivering a responsive, highly available and recoverable system. Our queue based, distributed enterprise model removes the delay and latency of communicating to a centralised location, while maintaining data integrity across the platform. While available in a cloud deployment, Vision is also available in a managed, partly managed and unmanaged deployment. This offers full flexibility for organisations who want an out-sourced services, through to those who want full in-house management and includes those who may want to utilise an off-site backup or BCP deployment.
  • Event Driven, online system: No monthly data cuts or reporting runs. With an event-driven paradigm at its core, Vision provides real-time views of market data inventories, while providing the ability to slice data at any time for comparative reporting or ledger posting.
  • Data Tracking: Unique to Vision is the “inventory as an event in time”. Vision provides a proprietary method for uniquely managing a market data item from procurement to cancellation. Data items can take on its own set of attributes, allowing accurate reporting and management.
  • Time Slicing: The concept of “monthly data reports” is gone. Vision allows you to view your inventory today, the other day, at a historical point of time or a point of time in the future. This unique feature allows you to profile your run-rate given your obligations, snapshot positions and run general ledger transactions at any time.
  • Transactional model: Transaction based, web-oriented architecture delivers flexible data retrieval and data entry. Access to new sources of data no longer present considerable development effort, but instead leverage a data manipulation interface. Downstream from vision, reporting and procure systems are easily interfaced with minimal to no development work within the organisation.
  • Complex Event Processing (CEP): Event, Notification, Action. Taken from our experience is real-time message management, Vision provides real-time action on any changes in the data universe, while triggering real-time data quality, consistency and completeness checking.
  • Persistent Correlation: Vision’s persistent correlation engine continually validates the integrity of data from the context of the contract, access control system or liability management system.
  • Complex Data interpretation: Vision understand accepted market data concepts such as redistributing applications, application pre-requisites, application pre-requisites.
  • GUI and accessibility: Browser contained, Vision’s GUI is kept to a minimum intentionally. For the MIS recipient, we integrate with preferred tools, usually Excel, while providing a rich web-services framework for custom data linking and reporting. Vision is multi-lingual, including Asia language support in database and GUI.

Vision is of modular design, with modules fitting one of three types:

  • Core: Database, data integrity, enterprise scaling, event correlation and event processing
  • Ingestion: Inbound data feeds and updates
  • Post: Outbound ledgers, processing, reporting, access controls

At the heart of Vision, is the Database Core. Core provides you with data abstraction, data integrity, exception management, data completeness and a scalability framework. Simplistic, deterministic and flexible; Core provides you with a reliable and complete data inventory model.

Stability and Scalability

Data Access Layer: A peer-to-peer database layer providing multiple database sites for global enterprises.

  • Scalability: Multiple database instances at processing locations.
  • Speed of Access: Updates are acknowledged locally, applied globally using a proprietary conflict management algorithm.
  • Reliability: Inter-site communication failures are seamlessly managed with reliable queuing between databases.
  • Continuity: The peer-to-peer model can also be applied to firm’s that would like an immediately available, offsite Business Continuity instances of their database, where a third party service provider needs access, or for scenarios where a regulator requires an onshore copy of data.

Access and MIS

Web Services Layer: A remote, distributed request and response interface for use by the Data Access Layer and enhanced for user enquiries.

  • Accessibility: Access to the Vision Core for applications, user interfaces, Vision sub-systems, procurement systems and efficiency systems.
  • Security: Matrix based security access, with attributes including location, functional group and authority. Delivering on today’s complex access requirements to contend with regulatory, third party (offshore / captive entity) and other levels of access.
  • Compatibility: Backward compatibility for legacy inventory systems
  • Reduced Cost of Investment: No re-write of existing application or procurement system logic. While unable to leverage enhanced facilities, you existing systems will continue to operate.

Business Rules and Data Integrity

Correlation Manager:Providing semantic data management, the manager apples the inventory against business rules.

  • Compliance: Inventory data is matched, real-time against business rules. Business rules are defined throughout the inventory and contract data. Thes manager provides correlation between the data points, interpreting the semantics of the data. Where the data is in conflict, a violation of a business rule as an example, the correlation manager permits the conflict but maintains a persistent flag against the data item ready for administrator correction. Once remedied, the data conflict is closed.
  • Job flow: The correlation manager operates to a known set of rules. Organisations operating run-books or activity based functions can take the guess-work out of administration, documenting job flows and standardising activities.
Contract Event Manager:

The contract event manager is a contract management sub-system.

  • Contract Management: The management of thousands of concurrent contracts, with ever changing terms and conditions is not unusual. The contract manager provides not only a snap-shot of the contract as applied today, but a set of terms and conditions that you have agreed with your vendor for now and in the future.
  • Alarms and events: Scanning contracts real-time, the event manager will provide you, via the correlation manager, alarms and warnings for upcoming changes to the inventory.
  • Contact Linking: Sub-contracts, addendums, master agreements are all understood as is their scope.

Manually entering inventory data is not only inefficient use of skilled administrators’ time, but will always lead to data quality issues. Vision provides assistance with a number of proprietary interfaces and automation systems.
Please note that the automation systems are not part of the basic package.

Asset Management Modules:

Automated data ingestion modules, linked to the correlation engine, with the ability of real time data loads or periodic batch snapshots. All loaders have the ability to provide part, or sub-loads, for organisations without a uniform or central asset management structure. Asset management modules are essentially data transformation modules. They may operate on data provided through any support medium, these include web-services (pushed from remote system), databases tables (snapshots or real-time polling), file parsers (batch jobs), drop files (on demand batch jobs).

  • Human Capital Management Interface: SAP, PeopleSoft, generic configurations
  • Bloomberg Interface: SID files, sharing user overlays
  • Reuters Interface: eSpresso, AAA
  • RMDS Interface: DACS5, DACS6, support for proposed multi-profile DACS, HARCO
  • GL Trade: VOR
  • Direct Feeds: Entitlement data interpretation for NYSE Wombat, ActivFinancial.
  • Generic interface: Template module for easy configuration against any data source.
  • Payment Management Modules
  • Asset Efficiency Modules

Vision Output Modules

  • DACS Interface
  • General Ledger Interface
  • PeopleSoft / ePro interface