Press releases 2008
15 July 2008
London Stock Exchange launches UnaVista Broker Matching Utility for post-trade data
The London Stock Exchange today announced the launch of the UnaVista Broker Matching Utility (BMU), a new service for the central matching of post-trade data across prime brokers, executing brokers and hedge funds. The BMU service runs on UnaVista, the London Stock Exchange’s web-based matching, reconciliation and data integration service hosted at the Exchange’s data centre.
In a market where matching is often manual and the complexity of system integration is a barrier to automation, the UnaVista BMU provides industry participants with a powerful central matching service that is flexible and fast to implement. The BMU extends further the functionality of the Exchange’s UnaVista platform, which already provides many matching and reconciliation services for tier one investment banks.
Features of the UnaVista BMU include:
- Central matching of post-trade data across prime brokers, executing brokers and hedge funds
- Exception monitoring through a browser-based dashboard
- Simple and fast integration to other systems
- Independence from specific data formats with the ability to handle multiple data standards
- Security of the Exchange’s data centre
Commenting on the new service, David Lester, Chief Information Officer at the London Stock Exchange, said:
“The UnaVista Broker Matching Utility represents another step in our goal to bring efficiencies to the market. It gives those responsible for post-trade processing of trades a quick and simple method for automating matching processes. UnaVista removes the need for large scale implementation projects which are traditionally associated with legacy matching and reconciliation systems.”
The UnaVista BMU will launch its pilot service this month. The full service will be available to prime brokers, executing brokers and hedge funds from Q4 2008.
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Notes to editors
· About UnaVista
UnaVista is the London Stock Exchange’s global data integration, validation, matching and reconciliation service which enables clients to identify inconsistencies across any data type. The matching, reconciliation and validation of trade, securities and reference data across complex global environments has long been a challenge for financial services institutions. By standardising global matching and reconciliation in one service, UnaVista can reduce the risk and costs associated with maintaining multiple applications.
UnaVista removes manual processes that typically use outdated technologies and paper-based procedures, helping to automate and streamline operations. The core of the service is a flexible rules-based engine that allows data to be matched and reconciled from any source and across any business function.
UnaVista’s configurable website interface enables the service to be deployed across multiple service uses such as matching, pre and post settlement reconciliation, multi-system integration and reconciliation, reference data management and proprietary data management. As a result, UnaVista offers significant benefits and standardisation to many areas of the organisation.