GoldenSource, the leading independent provider of Enterprise Data Management (EDM) and Master Data Management (MDM) solutions for the securities and investment management industry, has launched version 8.7 of its data management suite.

The twin accomplishments of the 8.7 release are to (a) dramatically improve the user experience of [our] clients and (b) to release an industry leading Market Data Solution as a fully integrated module.

The User Experience has been improved by taking significant steps forward in three areas – a completely re-worked user interface, vastly improved user empowerment tools and a dramatic increase in UI performance. By using cutting edge technology and architecture and inserting an object layer above the award winning GoldenSource Data Model, 8.7 users, both data operations and technical, will experience a transformation in the look, feel and flow of the user interface.

The new state-of-the art tools give data operations [staff/officers/teams] across the buy and sell side the power to configure validation and derivation rules and make screen and workflow modifications themselves, without requiring technical support.

As a result of these changes to 8.7, individual users can configure their own dashboards without having to submit requests to IT. Importantly, this allows users to manage data and service quality through their own personalised screens. Data quality management is an iterative process and dashboards need to be flexible in order to react to tighter quality levels over time. UI response times have also moved further ahead of the market for greater efficiency.

Regulations such BCBS 239, MiFID II, FATCA and Solvency II, have also been drivers for the upgrade – as banks look to demonstrate greater control over their data for reporting.  Regulations increasingly require aggregation of transaction and reference data for reporting. The ability to bring that data together, leverage a single repository to comply with various regulations and to incorporate reporting through an approved mechanism is a step change in cost effective regulatory compliance capability.

Tom Stock, Head of the Product Management function at GoldenSource, said: “8.7 is all about great user empowerment – providing both the brokerage and asset management community with greater flexibility and control over their data. If problems crop up in data quality, the business now has the ability to write new rules, instead of having to go through the IT department. This, in turn, frees up internal IT resources to focus on new projects. We’re proud to be ahead in usability following this investment in our UI. It finally, truly complements the quality of our data model and functionality.”

Another important addition to 8.7 is the full integration of GoldenSource’s Market Data Solution – which links traditional reference data such as corporate actions and end-of-day pricing, with more time-critical market data, including intraday pricing, rates and curves. Requirements such as IPV, PRUVAL, P&L attribution and VaR back-testing are now addressed as part of a single integrated solution. Centralised market data and risk position management greatly accelerates compliance with the Fundamental Review of the Trading Book (FRTB).

Finally, in what is a very feature-rich release, GoldenSource brings Product mastering fully under its EDM Umbrella. The ability to put governance and workflow around product management, whether those products are Funds, Instruments, OTC products or even services, is now also subject to regulatory scrutiny and valuable to its customers.