SmartStream is in the process of expanding its DClear reference data management offering with new holiday data, entity hierarchies and index management services.
DClear, marketed as a reference data utility, now offers customers a range of managed reference data services to help improve data quality. The utility takes in data from different sources and cleanses it for customers.
When it was first launched, the focus was on scrubbing and cleansing traditional reference data sets, but the offering has since evolved, and SmartStream recently added a corporate actions service to DClear.
The new holiday data, entity hierarchies and index management data cleansing services are set to be released in February. These services will also be based on DClear's "pay as you play business model," says Hugh Stewart, who was appointed sales director for the DClear business in January.
DClear has an advanced permissioning and entitlement system that reflects client contracts, making it possible for the system to tailor data cleansing services for clients.
So far, the company has seen particular client interest in data cleansing of exchange-traded derivatives data. DClear is "on a real roll" in that area, says Stewart, who is now tasked with expanding the DClear business.
In his new role, he will be managing dedicated DClear sales teams in the UK, US and the Asia-Pacific region. "DClear has a lot of assets in the data management world; we just need to raise our visibility," he says.
Stewart is a seasoned data management industry professional, particularly due to his recent position as senior vice-president of sales, EMEA and Asia at enterprise data management software vendor GoldenSource.
As sales director at SmartStream, he will work out of London and report to Richard Cummings, EVP, major markets, SmartStream, who is based in New York.