This post is sponsored by Interactive Data.
Martin Williams is recognized as an expert on the creation, collection and distribution of high-quality reference data for use across the financial instrument processing lifecycle. As vice president of Interactive Data's Pricing and Reference Data Product Development team, Mr. Williams is responsible for the product strategy and for identifying and developing new business opportunities. Here he talks about how managed data services can help solve issues with data quality.
Question: What are managed data services and how do they differ from traditional data management?
Marty Williams: Managed data services are hosted solutions that provide access to great breadth and depth of data, using standard interfaces. By utilizing managed data services, firms are able to minimize internal IT and data management requirements and receive access to a wealth of data directly to their desktops, enabling a broader range of users to leverage information.
Traditionally, firms would manage the data acquisition, technology and infrastructure independently, but this has proven to be a time consuming and expensive practice. By using managed data services, firms are enabling organisations to achieve their business goals, with peace of mind that their critical data is being effectively managed.
Q: What challenges can companies address using managed data services?
MW: The evolution of investment strategy has transformed the use of data. Investment firms are striving to achieve greater on-demand access to mission-critical content, while simultaneously having to manage cost pressures associated with the design, maintenance and hosting of such architectures.
Managed data services help address these challenges by providing access to a comprehensive universe of global multi-asset class data, enabling efficient delivery of data services, and providing scalability via networks and technology infrastructures maintained and managed by the host.
Q: Which areas can benefit from managed data services?
MW: Managed data services enable portfolio managers and investment firms the ability to implement their investment strategy more seamlessly. They allow organizations of all sizes to leverage the technology infrastructure and access to security master data without the investment in database software.
Hosted solutions allow smaller firms to bypass a significant portion of infrastructure development and maintenance costs. These efficiencies enable small and midsize firms to compete more effectively with their larger rivals.
Q: How can managed data services help with new compliance rules?
MW: Managed data services can also provide a range of pre- and post-trade monitoring tools for meeting compliance, strategic and operational goals. Investment firms can more easily establish parameters for meeting client-specific goals. For example, managed data services make it easier to meet objectives such as monitoring for so-called “sin stock” assets in portfolios.
Q: What should companies think about when considering providers for data management?
MW: When considering providers for data management, the most essential factor is the ability to offer a comprehensive suite of technology solutions. The data vendor selected should be able to scale their solutions to meet not only your current but also future needs.
A fully equipped managed data service provider offers comprehensive support for virtual infrastructures and will have strong global disaster recovery plans in place.
Interactive Data’s Apex® Managed Data Service is a hosted solution that gives you access to our complete universe of multi-asset data, using standard interfaces. We minimize the strain on IT and data management resources, delivering data to the desktop efficiently, allowing a broader range of users to leverage information. Our scalable technology reduces barriers to entering new lines of business.