Master Data Hub Integration
Our client is one of the world's largest energy service providers.
Over the past 12 months this client has partnered with Digiterre to meet urgent requirements with regards to transforming and standardizing data across core trading systems. Using an iterative approach and working with the client's in-house business analysts and technical architects, Digiterre designed and developed a Master Data Management (MDM) solution. As well as being the single source of centralized master data the solution also functions as a cross reference service to conform dimensions in data from systems that haven't adopted centralized master data.
"As a result of our diversified trading activity, we have multiple systems, some of which are not within direct internal control. We needed a solution that could act as a centralized store and as an integration tool to conform dimensions across systems not in our control or that were difficult to change. The dual purpose design delivered by Digiterre of centralized management combined with a cross reference service, allowed us to do that," says the supplier's principal business analyst.
This solution now forms the backbone for a host of other systems
covering market trade reporting, portfolio reporting and automated
trade entry.
The client selected Digiterre because of the high quality of our
people and our track record for delivering custom solutions
within demanding front and middle office trading environments, as
well as our ability to provide a flexible and tailored project
approach while still delivering to a fixed price.
The Challenge
The client faced a challenge in the variety, volume and complexity of the instruments traded and of the supporting reference data. Trading a wide range of products in oil, gas, power, carbon, freight and coal, the client also deals with high volumes of reference data including counterparties, traders, markets and locations, to name a few.
Any financial or commodity trading business covering a wide range of products and markets and using a variety of different systems needs a way of standardizing data so it can be transferred between systems and to enable consolidated reporting and analysis. Before Digiterre's implementation of the MDM solution, the client utilized four teams of business analysts using Excel to manually aggregate market data and to produce reports.
The Solution
Digiterre designed and built a Master Data Management solution used to standardize the streams of trade data coming in to the client's systems. Built as a web service and designed to sit within a service-oriented architecture, the solution maintains all of the client's mapping and reference data within a central database, making it available to any system within the client's needing to hold standardized data.
The MDM system has been developed over a series of phases, three
of which are complete and the fourth is in progress at the time of
writing. This phased approach has allowed the client to introduce
the MDM concept to the organization in stages and to bring the
solution to market quickly.
In parallel to the MDM development, Digiterre has also developed
two other systems for the client that integrate with the MDM
services and help to realize the benefits they bring.
The Market Trade Data Warehouse loads market trade data from the
Trayport system and uses the MDM to standardize and validate the
data before storing it in a data warehouse optimized for reporting.
Whereas previously the client's risk
analysts, compliance officers and traders would have had to wait
for data to become available, the client can now use Business
Objects to provide near real time analysis of the client's trading
activity against the market.
"Forward thinking organizations are implementing MDM solutions to eliminate redundant data and enable timely and accurate enterprise reporting and analysis. We are delighted to be able to help our client achieve this," says Julian Webb, Chief Operating Officer, Digiterre.
Digiterre has also delivered an Automated Trade Entry (ATE) system that takes feeds of trades from brokers and exchanges, standardizes and validates the trade data using MDM and then passes the resulting trade records through to the client's relevant system.
The suite of systems being developed by both the client and Digiterre in partnership, with the Master Data Management service lying at the heart of the architecture, are transforming the way that the client's IT infrastructure is supporting the business. It is enabling more seamless integration between systems, supporting straight through processing and delivering robust data repositories based on accurate, up-to-date and standardized data allowing greatly improved analytics and business intelligence.