IBM Readies Reference Data Utility

FRONT PAGE: OPERATIONS

Technology giant IBM is developing a utility-style reference data service that will allow firms to outsource data collection and scrubbing for creating "golden copy" securities masterfiles, officials tell Inside Market Data.

The service has emerged from the reference data consulting that IBM already performs for firms on an individual basis. The company now hopes that firms will want to outsource non-proprietary components of the process.

"A lot of the components are common… and some elements

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