FIA Tech adds cash and collateral to reference data services for derivatives

FIA Tech announced that it has further enhanced its reference data offering with three new services aimed at increasing efficiency in the futures markets. The new services form part of FIA Tech’s strategy and commitment to providing the industry standard reference data to the derivatives industry and serve as valuable stand-alone data sets as well as add-ons to existing services.

Cash and collateral: during the lifecycle of a product, multiple events can occur that impact post-trade processing. Many of these events require participants to manually extract and parse exchange/CCP information, which carries heavy overhead cost. One of these many events is the static data related to collateral management. FIA Tech’s Cash & Collateral service provides users with a standardized, aggregated view of collateral instruments accepted by global clearing houses and a number of associated relevant static data points including haircuts, concentration limits, and fees.

Cross reference symbology: the futures industry currently wastes significant time and resources manually collecting and mapping product codes. FIA Tech’s new mapping tool provides firms with an easy way to link widely utilized vendor symbologies for product reference data to the exchange venue product code and other FIA Tech product codes such as Docs standard codes. Cross Reference Symbology is offered as an add-on for each of the new and existing FIA Tech services.

Contract specifications: provides users with the ability to standardize contract classification, identify basic trading information, and identify crucial settlement dates associated with futures contracts. This comprehensive data set of contract information can be adapted to firms’ specific requirements, delivered daily in the format/structure of choice. The comprehensive reference data suite dramatically reduces manual collection and maintenance efforts by financial institutions’ operations teams.

Andrew Castello, head of Reference Data for FIA Tech, said in a statement: “This expansion of FIA Tech’s reference data offering allows us to better service our customers by unifying our product reference data across services and improving our system functionality. We have seen strong market demand for these offerings and believe they will offer significant value to existing and new customers.”

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