Thomson Reuters has launched DataScope Equities Plus, an enhanced, customisable bulk data feed offering continuously updated reference data and end-of-day pricing on instruments and securities.
The company’s DataScope Solutions, which covers more than 650 structured notes and derivatives, already provides pricing, referential and security master data attributes that support pre-trade, trade and post-trade operational workflow requirements across the front, middle and back offices of financial institutions. DataScope Equities Plus will provide an advance view of instruments and securities before the start of each trading day.
DataScope Equities Plus is a reflection of and a response to the need for more timely and accurate information around clients' books, said Stuart Martin (pictured), global head of asset servicing at Thomson Reuters. “It can be seen as a hybrid between DataScope Select – which is our flagship cross-asset product as well as portfolio-driven – and DataScope Equities, which delivers end-of-day pricing and reference data sets,” said Martin. “DataScope Equities Plus is looking at the legacy product, and making the process much more flexible on how the customer would request that data with intra-day updates on referential content. Clients will have regular updates and this will allow them to upload, for instance, a security master data file before trading and be able to reflect what happens between the end-of-day reference file and the morning file. By doing this, clients can keep the master regularly up to date and choose what data they get from that file, whether it is the delta or other fields that they are interested in. This process can now be repeated or scheduled throughout the day.”
Reference data will now be delivered in 15-minute increments, with each instalment reflecting changes across all content sets and subscriptions. Pricing data is supplied end-of-day, with corrections and late-market changes delivered as they become available – eliminating the need for early maintenance and historical pricing files.
End-of-day delivery has become outdated because of reporting checks and balances, and disclosure requirements, according to Martin. “We’re leveraging existing technology and infrastructure to provide a very intuitive and robust bulk delivery tool for the back office,” said Martin. “The data can be tailored to meet internal needs so that positions can be updated as and when it is needed with the collateral management and credit line.”
DataScope Equities Plus, said Martin, adds to Thomson Reuters’ core offering which has traditionally been aimed at providing post-trade back-office functionalities and the more recent focus on the middle office’s needs around risk management and risk analytics. “There are a number of new regulatory requirements coming into force which will have an impact on how we collect, manage and report transactions,” said Martin. “The developments on our risk portfolio analytics around volatility skews, credit curves, and so on are a good example of what we are trying to do.”
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