BST Awards 2024: Best buy-side data management product—NeoXam

Overview

NeoXam DataHub is a data management platform from Paris-based NeoXam designed to help buy-side firms address the challenges they face around managing and extracting maximum value from the large volumes of data they consume. It supports a wide range of asset classes and data types, including reference data, market data, ESG data, and xBOR data: investment book of record, accounting book of record, performance book of record and custody book of record data. DataHub helps buy-side firms avoid data silos and ensures high-quality, consolidated data, which is crucial for accurate decision-making, efficient operations and regulatory compliance.

The solution  

NeoXam DataHub creates a centralized data repository that spans the full data lifecycle, from ingestion and cleansing to distribution and reporting. It ensures data consistency through data governance and validation workflows. By integrating with multiple data sources and systems, DataHub eliminates data silos, providing buy-side firms with a single source/version of the “truth”. This helps firms optimize data usage for investment decision-making, operations, client reporting, and regulatory compliance, ultimately improving their efficiency and accuracy.

Secret sauce  

NeoXam DataHub comes with out-of-the-box functionality (pre-configured data models, connectors, screens, workflows, etc.), while also allowing/supporting flexibility in terms of configuration. This allows clients to get a head start on the implementation, leveraging years of experience and client feedback “baked” into the solution. It also allows them to adapt the data model, data sourcing, distribution and workflows to their specific needs, without having to request a change to the core product.

Recent milestones

• NeoXam developed advanced ESG capabilities, including cascading data across entity hierarchies for more granular insights.
• NeoXam introduced a new web-based UI/UX for improved extract, transform and load (ETL) processes and dashboard configuration, enhancing the user experience and efficiency.
• NeoXam launched new standard REST and GraphQL APIs, along with the ability to distribute data to a Snowflake share, broadening integration and data-sharing options.

We are delighted to have won this award and thank the judging panel and WatersTechnology. It is testament not only to all the hard work done by the team in making the end-user experience as good as it can possibly be, but also the relationship we have with our clients, which allows us to respond to their changing needs and enhance DataHub accordingly

Yann Bloch, head of product and pre-sales Americas, NeoXam

Future objectives

NeoXam plans to:

• Complete the ESG data value chain by integrating ESG data with holdings and roll-ups across portfolios and entities to produce European ESG template (EET) reports.
• Introduce operational data lineage visualization and enhanced tracking/enforcement of data entitlements.
• Implement data virtualization across different DataHub instances for larger deployments and externally stored data, enabling management, governance and access to off-platform data.

Why they won

NeoXam’s outstanding DataHub offering is responsible for delivering the win for the Paris-based data management specialist in the best buy-side data management product category of this year’s BST Awards. There was a time not long ago that S&P Global Market Intelligence EDM―formerly Markit EDM, and before that, Cadis―dominated this category, but that hegemony was ended by Alveo’s win in 2022. Now, NeoXam has emerged top in one of the most difficult-to-win individual categories of all 37 on offer, showing that its success in the corresponding category of this year’s Sell-Side Technology Awards was no aberration.      

By winning this category in the BST Awards for the first time, NeoXam has not only usurped S&P Global’s crown, but it has shown that can compete with the industry’s leading lights and that it, too, is now part of that elite handful of providers. Make no mistake, this is a big deal…and possibly the most significant win of this year’s BST Awards. The next challenge for NeoXam is to win this category again next year, which as these awards have shown over the years, is no easy feat. That said, who would bet against NeoXam repeating this year’s stellar performance?