Overview
A Tier 1 hedge fund looking to automate its futures and options data workflows and introduce a high-quality independent data source to validate and enrich its reference data.
Challenge
The hedge fund had identified gaps in data coverage from its current providers, particularly around Dividend Futures instrument types. It was also looking to introduce a third independent data source to validate against its existing providers, and needed support maintaining cross-reference symbology between LSEG RIC codes and Bloomberg IDs.
Solution
The hedge fund implemented Smartstream’s Listed Derivatives Reference Data Service, addressing coverage gaps across multiple instrument types and providing a cross-reference symbology capability to map securities across exchanges and data vendors.
Benefits
The hedge fund filled its data coverage gaps and automated previously manual reference data processes. The introduction of a high-quality independent data source improved validation accuracy across existing providers. Smartstream’s cross-symbology capability streamlined the management of identifier mappings between LSEG and Bloomberg, reducing operational burden and improving data consistency across the fund’s workflows.
