Golden Copy Securities Pricing Compilation Automation
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Solution Overview
Problem
Current systems for compiling golden copies of securities pricing information are labor-intensive and costly, as they rely on multiple sources with varying data freshness and require manual handling, leading to inconsistencies and increased costs due to time differences and foreign exchange fluctuations.
Innovation Solution
A system and method for automatically compiling golden copies of securities pricing information using a customizable application that allows subscribers to define rules for data sources, prioritizing them to ensure complete and verified pricing data, with built-in rationality checks and contingency measures to handle stale or missing prices.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If manual processes are used to compile golden copies of securities pricing from multiple sources, then flexibility in handling different subscriber requirements and data sources is maintained, but labor intensity and cost increase significantly
Solution Approach 1:
The system enables automated self-service compilation of golden copies by allowing subscribers to define their own rules, data sources, and priorities through a user-friendly interface. The automated application executes these rules without manual intervention, reducing labor intensity while maintaining the flexibility to accommodate individual subscriber requirements.
Solution Approach 2:
The system allows dynamic configuration of multiple parameters including data source priorities, asset class specifications, currency preferences, and timing requirements. These parameters can be adjusted by subscribers to match their specific needs, providing flexibility while the automated processing handles the complexity of managing these varying parameters across multiple subscribers.
2Reliability
If multiple information sources are used to ensure complete pricing data, then data completeness improves, but data inconsistency and processing complexity increase due to time differences and foreign exchange fluctuations
Solution Approach 1:
The system performs preliminary actions by allowing subscribers to pre-define their data source priorities, asset class preferences, and timing requirements before the compilation process begins. This advance configuration simplifies the actual processing by having all rules and parameters predetermined, reducing processing complexity while ensuring complete data collection from the appropriate sources.
Solution Approach 2:
The system implements feedback mechanisms through rationality checks that verify the consistency and completeness of pricing data collected from multiple sources. The automated application compares data across sources, identifies inconsistencies due to time differences or currency fluctuations, and applies corrective logic based on subscriber-defined rules, thereby maintaining data reliability without manual intervention.
3Productivity
If automated processes are implemented to reduce labor and cost, then productivity and efficiency improve, but the ability to handle customized subscriber requirements and complex data source priorities may be reduced
Solution Approach 1:
The automated application is designed with multi-functionality to handle diverse subscriber requirements through a universal rule-based framework. Subscribers can configure asset class specifications, data source priorities, currency preferences, and timing requirements within the same automated system, allowing it to adapt to customized needs while maintaining high productivity through automation.
Solution Approach 2:
The system incorporates dynamic configuration capabilities that allow subscribers to modify their rules, data sources, and preferences at any time. The automated application dynamically adjusts its processing logic based on these changes, ensuring both speed of compilation and the ability to accommodate evolving subscriber requirements without sacrificing customization capability.
Data Source
AI summary
Systems, methods, and computer program products include a golden copy application for compiling golden copies of securities pricing according to a set of securities rules established by a subscriber that can be used in a computing environment and embodied in computer readable media. Disclosed embodiments of a golden copy application can compile each subscriber's golden copy in accordance with specific rules defined by the subscriber relative to which information source should be used for different asset classes. Each subscriber can identify more than one information source for each asset class, and rank those sources in order of desirability.