SmartStream launches new API suite with range of reference data services
By Megha Bhattacharya
SmartStream Technologies has announced the launch of its new API suite in a bid to offer quicker access to services providing accurate data, with improved customer service, operational efficiency, greater agility, and competitiveness. The new API is expected to enable financial institutions to save infrastructure costs and implement an affordable service. SmartStream’s Reference Data Utility’s (RDU) regulatory reference data services can now be accessed by API.
Firms can tap into the RDU’s MiFID II solution and the Systematic Internaliser Registry – the latter offering clarity into the systematic internaliser services available across Europe, down to the individual security level. The SFTR enrichment API will also continue to be provided.
Linda Coffman, Executive Vice President, SmartStream RDU, stated, “As APIs become essential in most banking organisations and in continuous discussion with our clients – we managed to provide them with a convenient cost-effective means of obtaining the specific data they want, with no complex time consuming and expensive technology projects, and with no master database necessary. We are enabling them to remain competitive in a progressive world of APIs. In addition, the technology’s appeal lies in its ability to facilitate digital transformation without the need for a total overhaul of existing infrastructure – which, as firms have often found in the past, can be a costly, risky and a disruptive exercise”.
Recently, SmartStream announced the certification for PCI-DSS version 3.2.1, level 1, thus gaining additional reassurance to serve card and digital payments customers and process personal identifiable information across the world. The certification is, in a lot of cases, mandatory for solutions partners. The company’s reconciliations platform and OnDemand (SaaS) services have been certified at a high level of security standards.
Rocky Martinez, Chief Technology Officer, SmartStream RDU, commented, “The RDU is positioned to provide industry reference data disruption to every level of the investment industry, from the small buy-side investors to large sell-side organisations. By removing the large resource barrier to normalised, cleansed, and accurate data, organisations can quickly create and implement new algorithms, client strategies, and increase revenue. I am very excited about the future and the benefits that our APIs suite will have with our customers”.
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