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Ballintrae Exchange Rules and Regulations Database (BERRD)

What you can and can’t do with exchange pricing data has al­ways been complex but it is fast becoming a minefield. Cum­bersome language, rules that lack clarity and change often without notification are just part of the problem. The exchanges are more aggressively and more frequently target­ing financial services organisations to ensure they are accu­rately reporting usage, market data experts are often finding out that that their interpretation is being challenged more of­ten. The process that follows can be hugely time-consuming and expensive, often involving lawyers and more often than not resulting in hefty penalties and reputational damage.

Ballintrae’s unique and newly updated online database, Ballintrae Ex­change Rules and Regulation Database (BERRD), which is com­pletely independent of the exchanges, has been created and improved to help the industry’s ongoing information and reporting needs. It blows away the complexity and introduces clarity and pro­tection for organisations. We have created a single source of reference for all Exchange policies to bring transparency to the market.

The database contains everything an organisation needs to know about the more than 153 Global exchanges, making it a must-have for any financial services organisation receiv­ing, downloading, manipulating and/or distributing informa­tion from the exchanges.

It also features a secure, “private area” for individual clients which is specific to them, that only they can view and populate. The private area is commonly used for uploading client specific contracts and documents as well as viewing the Ballintrae client’s summaries, comments and detail relating to the Ballintrae data. Any additions are instantly uploaded and visible on the client’s web view of BERRD For compliance purposes, clients cannot edit Ballintrae data.

Functionality and benefits:

  • Web enabled allowing easy access anywhere in the world
  • Highly intuitive online database which is password protected
  • Provides your market data teams with the information they need at the touch of a button
  • Updated on a weekly basis and verified by the in-house Ballintrae team
  • Ability to compare a single policy area across multiple exchanges
  • Download Matrix reports from BERRD into excel
  • Ability to search by location or by Thomson Reuter’s or Bloomberg code
  • Changes to exchange rules and pricing will be communicated to clients on a real time basis.
  • Assists with providing more accurate reporting to the exchanges in terms of data usage
  • Complex policy summarised by the Ballintrae team in straightforward terms.
  • Ballintrae is working with the exchanges to validate our interpretations of their rules and regulations
  • Taking out any ambiguity in the policy.

Secure, private area developed in Microsoft Dynamics which is very flexible offering client relationship manager functionality

The database can be customised to meet any specific needs.

Click here to open the BERRD product sheet

*Please note the actual spread sheet has been formatted only for visualisation purposes. The information exported to MS Excel is in plain table.

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BMAP – Ballintrae Mapping Tool

Provides Management with a Complete Overview of Market Data Usage and Flow

Ballintrae has created a revolutionary, unique and flexible market data modelling tool that visualises an organisations’ market data consumption and provides the tools to maintain a complete inventory of all the applications, servers and databases which are part of the market data flow.

At present, many organisations spend a lot of time and effort collecting market data information for audits conducted by exchanges and vendors. Once implemented BMAP can be easily maintained and provides a market data team with market data application information for audits and management decision making.

Once implemented BMAP can be easily maintained and will store not only market data application information but also Exchange usage information for audits and management decision, as well as creating valued schematics which many Exchange/vendors will require when undertaking an audit.

Click here to open the BMAP product sheet


Technical details

BMAP has a thin-client, browser-based graphical interface allowing for easy implementation throughout an organisation. The interface has been written in HTML 5.0 ensuring compatibility with portable tablet devices in addition to desktops. The database itself is based upon Microsoft Dynamics software. This can be securely hosted on Ballintrae servers or alternatively installed at a client site.

Key features include:

  • Detailed records can be maintained for each object type (i.e. applications, database etc) and bespoke fields can be added during the implementation of BMAP.
  • Summary pdf documents can be created, which, by way of an example can be provided to application business owners or third party auditors.
  • Maps can be filtered to visualise a subset of the information held within BMAP, for example a map could be filtered to just show the consumption of data from one particular Exchange.
  • Notes and tasks with target dates can be added by the market data team to maintain a record of on-going initiatives.
  • Multiple maps can be created, and maintained and map objects (applications etc) can be shared across maps.

The BMAP market data consumption map is dynamically updated when an object or link is added, deleted or edited. Different object types (data source, application etc) are represented by different shapes within the map. Colours can be set by clients allowing for a high degree of personalisation.

The BMAP key allows users to filter the visualised map. This could be used to, for example, view the flow of market data from just one exchange or focus on just one object type. The keys can be hidden or displayed at any time by the user.

Clients can maintain detailed inventory information about the applications, data sources, databases and websites within which they use market data. Each object has a number of associated fields to hold a variety of information relating to that object. Fields include: datasets used within the object, application owner information, application deployment information, known compliance issues. The application fields can be customised at the time of set up.

Benefits

  • Identify and calculate potential exchange liability
  • Model future market data strategies and assess their impact with ease
  • Identify cost saving initiatives and cost rationalisation
  • Massively reduce resources and time required to manage an exchange audits
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Audit Services

For peace of mind before, during or after an audit from an exchange, our team of experts is on hand to advise and support your Market Data Team.

Ballintrae offers the following services in the Market Data Audit and compliance area:

  • Pre-audit health Check
  • Audit Management
  • Post Audit Project Implementation
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Pre-Audit Health Check

Many companies have multiple data feeds from various Vendors and Exchanges which, in turn, feed into an array of internal and external applications. This makes it very hard to understand exactly where the data is going within a company and exactly what data is being fed downstream.

We offer our clients a complete data mapping and Exchange Audit Compliance service. By conducting on-site interviews we create a complete Market Data flow chart and identify reporting errors and potential liabilities. We also recommend areas of potential cost reduction. Clients are also presented with a project plan of how to implement any fixes or recommendations.

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Audit Management

Exchange Audits are a necessary evil for Exchanges but also a drain on client resources.

Ballintrae has a team of Exchange regulation and audit specialists who can help manage the extra work load in an efficient manner by liaising with the Exchanges to answer the queries and double check any analysis they provide. This helps speed up the audit process and ensures minimal impact on business as usual.

Our role also includes negotiating with the Exchanges and ensuring a level playing field is applied to all banks when a liability is identified.

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Post Audit Project Implementation

Often Audits identify areas or processes that need to tightened or changed but the pressure is off once the audit is complete! Ballintrae has a team of Market Data specialists with experience of implementing post audit solutions managing anything that needs to be done. This can include ensuring future compliance or where applicable introducing processes to remove any over spend with the Exchange.

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Reference Data

Reference data is fundamental data upon which other data is based and is critical to organisations operating within financial markets. Reference data falls into three broad categories:

  • Party - names, addresses, relationships, accounts
  • Instrument - issues, issuers, asset classes, risk ratings
  • Primitive - countries, cities, currencies, public holiday schedules

Without adequate reference data, trades will fall through, market risk cannot be calculated, settlement will fail and the impact significant including financial loss. As a result, the organisation will incur settlement penalties, regulatory fines and unnecessary IT software license costs & hardware.

At Ballintrae, our consultants have the experience to review data quality within applications to ensure data is maintained reliably.