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| Agreement provides reference data to SmartStream with access to Thomson Reuters PermID, streamlining complex data collection for clients |
NEW YORK & LONDON, Oct 29, 2015 - (ACN Newswire) - Thomson Reuters today announced that it will now deliver reference data to SmartStream's Reference Data Utility, known as Securities Product Reference Data (SPReD). As part of the agreement, SmartStream will have access to Thomson Reuters PermID, the machine-readable identifier developed to create a unique reference for any data item. SPReD will provide services for instrument reference data normalization and validation across all asset classes to many of the industry's leading banks.
"We see tremendous benefits to the financial industry embracing a centralized Reference Data Utility, and we are delighted to be working with firms such as Thomson Reuters to help deliver the critical reference data needed to make this a reality for our clients," said Philippe Chambadal, CEO of SmartStream. "Trusted and reliable reference data will continue to drive our business and that of our growing clients. Our Utility is designed to ensure that our clients have full access to the most comprehensive reference data available."
SPReD will provide clients with a multi-tenanted, auditable environment for data collection, cleansing, and change management based on customized integration standards to generate a flexible, bespoke security master database. Leveraging common market processes, incorporating best practices and individual controls, consumers of instrument data across capital markets will potentially benefit from savings and operations improvements as clients of the Utility.
"While it will be no simple task to establish a Utility for reference data, one of the tenets of such an effort is ensuring that the data that feeds the Utility is of high quality," said Virginie O'Shea, senior analyst at Aite Group. "Establishing key industry partnerships sets the Utility on a good foot forward to gain wider traction further down the road. Widespread adoption is the ultimate aim of the Utility, after all."
"Working with our global clients and other providers to deliver solutions designed to simplify and enable them to conduct global business is at the core of our mission," said Debra Walton, chief content & product officer at Thomson Reuters. "The opportunity to collaborate with SmartStream to deliver our reference data services through this new Utility is consistent with our commitment to data quality and delivering our content into whatever data governance, software infrastructure or operational model our clients select."
"We are particularly pleased that SmartStream has chosen to adopt Thomson Reuters PermID; this is an important step for the industry in solving the increasingly complex challenge of data integration and data linking," added Walton.
Thomson Reuters Pricing & Reference Service is a global solution that covers over 2.5 million fixed income securities, derivatives and loans, priced daily, including: collateralized loan obligations (CLOs), collateralized debt obligations (CDOs), asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), credit default swaps (CDS), corporates, US municipals, structured products and more. For more information on Thomson Reuters Pricing & Reference Service, please visit: www.prdcommunity.com.
Thomson Reuters PermID is a machine-readable identifier developed to create a unique reference for any data item. Unlike stock tickers and other such symbols, PermID never changes. PermID was developed by Thomson Reuters to manage its own internal datasets and is now being made available more widely to help solve the big data challenges faced by multiple industries. For more information about Thomson Reuters PermID, please visit https://permid.org/.
Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to http://thomsonreuters.com/.
CONTACTS
Lemuel Brewster
Thomson Reuters
Senior Public Relations Director, Financial & Risk
Office +1-646-223-5147
Mobile +1-917-805-1089
lemuel.brewster@thomsonreuters.com
Dan Bradley
Thomson Reuters
PR Director, Financial Technology Platforms
Office +44 (0)20-7542-7024
dan.bradley@thomsonreuters.com
Brian Bertsch
Thomson Reuters
Office +1-646-223-5985
brian.bertsch@thomsonreuters.com
###
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Thomson Reuters Corporation via Globenewswire
Topic: Press release summary
Source: Thomson Reuters
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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