Providers of market data are tapping into enterprise data management technology in order to systematize the manufacture and delivery of their products.

An example is Indexium, which calculates and distributes indices for the STOXX Ltd, SIX Swiss Exchange and Deutsche Börse Group.

Indexium has implemented enterprise data management (EDM) technology from Cadis to create new data feeds, validate data and establish new workflows.

“Indexium will use Cadis’ EDM platform to master the data for securities, corporate actions and free float information from multiple sources,” Daniel Simpson, CEO of Cadis, told Markets Media. “Indexium will then distribute the data to its index calculation engine, based on a CEP [complex event processor].”

Cadis employs a two-week proof-of-concept program in which it trains the prospective client to use the platform using its data and processes.

“What’s crucial is that the platform is used by the team that understand and manage the data to solve a problem that they typically face daily, and solving the problem will add considerable value to the company,” Simpson said. “This ensures that the organization is purchasing a fit for purpose solution.”

As a service provider to SIX Group, Deutsche Börse and STOXX, Indexium is tasked with the calculation and maintenance of indices and of additional calculation services regarding indices or index based products as well as the operation and maintenance of systems.

Cadis’ approach to “demystifying data management” enables Indexium to manage its data without any constraints, allowing it to cope with diverse client requirements and data validation rules, said Simpson.

The Cadis EDM platform is the central hub for all transactions, securities, prices, rates, counterparty and issuer data. The goal is to empower those who understand the data to manage the data, no matter the complexity, volume or scope of the project.