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 GoldenSource EDM, its data management suite.

The twin accomplishments of the 8.7 release are to (a) introduce an advanced user experience and (b) to include an industry leading Market Data Solution as a fully integrated module.

This means that GoldenSource EDM is optimized for the next wave of business, operations and IT needs to address the evolving demands of multi-regulatory compliance and reporting, harmonized data across the organization, and productivity gains.

The User Experience has been transformed by taking significant steps forward in three areas – a completely re-engineered user interface, innovative user empowerment tools and a dramatic increase in UI performance.  By using cutting edge technology and architecture and creating an object layer above the award winning GoldenSource Data Model, 8.7 users, both data operations, technical and business, will experience a transformation in the look, feel and flow of the user interface.  GoldenSource Objects will also make for smooth upgrade paths, with more than a dozen clients already committed. This is a record at this stage of a release cycle and testament to the value of the new 8.7 capabilities.

The new state-of-the art tools give data operations 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.  These tools also ensure compliance with segregation of duty requirements.

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.    

Regulations such BCBS 239, MiFID II, FATCA, FRTB and Solvency II, have also been drivers for the upgrade – as banks and the buy-side 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 data consumers with greater flexibility and control over their data and related processes. 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 User Experience. It 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, curves and surfaces. Requirements such as IPV, PRUVAL, P&L attribution, expected shortfall, VaR and 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. An organisation’s 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 for its customers to have assurance of the suitability of the products they are buying.