A Client Pain Point, Adding Securities, Solved

Did you know the most common request our clients send to our Data Support team is to add securities to the shared (or global) security master?  A client’s typical workflow is:

• Attempt to book a position
• Discover a security is missing
• Send an email requesting the security be added
• Wait for response
• Re-book the position

So Heeran Patel, Ilker Ozturk, and Peter Loizou from our UK office recognized that this was a frustrating and time consuming process for our clients, and built a web service solution, the Security Uploader.  This web service puts the power back into the client’s hands—they’re able to create securities quickly and efficiently. And clients who have automated the booking of trades into Imagine can add this functionality directly into their process avoiding breaks and rejection management.

How Does this Web Service Work?

The client runs the Security Uploader web service with a file containing a list of identifiers (e.g., CUSIP ). The list of security identifiers is passed to the Security Uploader web service,  which leverages Imagine’s integration with market data vendors to query the corresponding security terms and conditions, and automatically loads it into Imagine’s global security master. Previously, each request could take an hour or more depending on the number of securities to be added. Now? This entire process is reduced to three to four minutes.

If the security cannot be added for any reason a case is automatically created and assigned to the Data Team. The Data Team investigates and reaches out to the client with a resolution or an explanation of the error.

I Want to Run This Web Service!

You can! The web service is currently available and accepts any combination of these identifier types: ISIN,CUSIP,SEDOL or RIC. Contact us to have it enabled for your use. Our consultants will provide you with a quick demonstration on how to run the web service.

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About the Author
Brendan Hayes has been with Imagine for more than seven years; first in Sales and now in Consulting. He has been involved with IFP since its initial phase. Brendan holds a bachelor’s degree in Computer Engineering from Rochester Institute of Technology.

Brendan can be contacted by email or phone: 212-317-7629

2 thoughts on “A Client Pain Point, Adding Securities, Solved

  1. Hi Eric,

    The current list of securities are BND, FRN (fixed to float are not supported), TBD, TBL, and CD. Let me know if you want someone to reach out.

    Trever

    Like

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