Download this article as printable PDF

• GAIN as pricing master
• Integration of 10+ pricing sources
• Daily pricing of more than one million securities
• Dynamic selection and validation rules
• Seamless IT integration
  

Clearstream International, one of the leading custodians in Europe with more than one million securities under management, has implemented GAIN Golden Copy as a central pricing hub to increase the pricing coverage, price timeliness and price quality. GAIN is used to streamline the processing of data from 10+ internal and external sources based on an extensive rule framework.

Due to the high market volatility and the need to enhance the risk management, it became necessary for Clearstream to increase the pricing coverage, pricing timeliness and quality with a central data management solution that could be seamlessly and swiftly integrated into the existing IT environment.

GAIN covers the customer’s needs
Clearstream’s decision in favour of AIM Software’s Golden Copy solution followed a comparative analysis of proven data management suites on the market.

The decision to pursue the project with AIM Software was taken for a number of reasons:

Strong connectivity of GAIN: Prompted by the effects of the financial crisis, Clearstream saw the need to increase the pricing coverage by improving the analysis of its pricing data coming from 10+ internal and external sources. With its connectivity to 15+ commercial data feeds on the one hand and the flexible import architecture for standard formats on the other, GAIN is able to cover Clearstream’s existing and future requirements. By drawing upon flexible request mechanisms driven by business rules, the coverage of market prices for Clearstream’s vast portfolio was considerably increased.

Strong rule framework of GAIN: Building on GAIN’s rule framework with flexible ranking functionalities, Clearstream was able to implement a comprehensive logic related to the selection and validation of instrument prices. The pricing logic implemented on the basis of the GAIN Rule Engine, features an improved price source classification based on dynamic rules.

Seamless integration into Clearstream’s IT environment: One of the decisive factors influencing the decision for GAIN was the ability to seamlessly integrate GAIN Golden Copy into the existing IT architecture. GAIN was completely embedded into existing IT processes, which greatly facilitates the operations of the system within Clearstream.

Fast implementation: Based on the extensive model parameterization proposed by AIM Software, the implementation time for the solution was considerably reduced. The entire pricing master integration was realized in only 7 months – one of the shortest integration periods for such a project in Europe. This rapid deployment became possible by utilizing standard sets of mappings, workflows and rules as well as predefined processes derived from the know-how of AIM Software’s previous implementations.

Transparency of the platform: The entire business logic created for Clearstream was implemented in GAIN’s Configuration Central module which allows for the creation of rules, mappings and workflows in a graphical power user GUI. The transparent and easy definition of the business logic will allow Clearstream to be independent in the maintenance and extension of the logic in accordance with future needs. 

Fine tuned pricing workflow
The GAIN pricing workflow customized for Clearstream mainly consists of three different phases: Price normalization, price pre-selection and price validation.

About Clearstream International | www. clearstream.com

Clearstream is a global supplier of post trade services serving 2.500 customers in 100 countries. It has over €10 trillion in assets under custody.
It is both an International Central Securities Depository (ICSD) based in Luxembourg and a Central Securities Depository (CSD) in Germany.

For further information please contact:
AIM Software
T: +43 1 512 46 52
office@aimsoftware.com
www.aimsoftware.com