Waters Rankings 2023: Best managed data service provider—SmartStream

Product/service: SmartStream Reference Data Services


SmartStream’s Reference Data Services offering features a data management outsourcing service, tailored to clients’ individual requirements, designed to lower costs, improve data quality, and facilitate positive revenue generation. The service allows data, policies, and procedures to be managed using firms’ own proprietary rules. Clients can mix and match data outsourcing services with off-the-shelf reference data products, creating a hybrid model.

“SmartStream is committed to delivering exceptional service to clients. The data management outsourcing service utilizes specialist subject matter and data quality experts without any additional charges. By leveraging experienced industry practitioners, SmartStream’s Reference Data Services provides the same level of quality and control typically achieved with a large internal team, helping financial institutions reduce overall costs. Moreover, clients have the option to leverage the security master and regulatory datasets, further reducing indirect costs.” 
Linda Coffman, executive vice president, SmartStream

The solution

SmartStream Reference Data Services offering simplifies data by providing a platform/service and a team of data experts available round the clock. They provide the necessary data for users’ security master before the trading day begins, eliminating the need for data loaders, aggregation rules, and constant monitoring of vendor or exchange-feed changes. The service crosses asset classes for both regulatory and security master datasets.

Secret sauce

The data API suite, based on Rest technology, provides access to data, enabling enhanced customer service, operational efficiency, and increased competitiveness. With its high-quality reference data, it integrates with the investment industry, from retail to enterprise, eliminating obstacles in obtaining normalized, cleansed, and accurate data. This facilitates the implementation of new algorithms, client strategies, and ultimately, revenue growth.

Recent milestones

SmartStream’s Reference Data management outsourcing services provide full-spectrum coverage of reference data, validated by the firm’s Reference Data Utility subject matter experts, supporting compliance with regulatory mandates such as Mifid II and the UK’s Securities Financing Transactions Regulation (SFTR). 

Future objectives

SmartStream offers financial institutions the opportunity to outsource data management complexities to a specialist provider. By utilizing SmartStream’s expertise and technology, clients can streamline operations, cut costs, and enhance data quality. Reference Data Services will continue to expand its data coverage across various asset classes, delivering a standardized dataset for clients’ regulatory and security master requirements. 

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