Market Abuse Translator

The Challenge

Eurizon Capital needed an effective and robust gateway to link their back and front office systems to allow for the verification of data required to monitor Market Abuse, as prescribed by Market Abuse regulation.

This presented a number of headaches – most notably the retrieval of data from various sources which were typically inconsistent with one another (corporate systems, front and back office) as well the necessary normalisation and formatting needed to successfully feed the data into the external SIA Eagle system for compliancy checks.

The Solution – Irion

Irion was just what Eurizon needed as it allows full integration between different areas and different technologies (DB2, File, Oracle, etc). Other stand-out features include:

  • A custom-designed database to extract and properly highlight modified information only, filtering out redundant information
  • Transcoding of input data using external tables to enable projection, separate maintenance and normalisation
  • Associating of data with 12 different categories (including orders, executed, registry tools etc) and formatting of data according to the specifications of the downstream systems
  • Fixed field and multi-record format flows
  • Statistical-type reports to show the system’s input and output volumes along with the number of detected data abnormalities
  • A specific set of rules (introduced by Irion to facilitate testing and production start-up) to verify the quality of the imported data while also optimising and anticipating the detection of problems that would have otherwise been entrusted to the downstream system

The Benefits

Irion’s excellence has given Eurizon Capital real data advantage. The system currently integrates 6 different data sources for a total of about 40 different streams. While designing their package, the need for changes and adaptation of the transcoding and filtering rules emerged from time to time as a result of the initial outcome verifications.

All details of mandatory data which are not available or not consistent are verified thanks to specific rule sets and control reports, and data output redundancy has been reduced thanks to separate rules for individual objects’ verification. As a result, an entity is only ever sent downstream when it has altered since its last transmission.

With powerful data browsing functionalities, the solution also easily and efficiently facilitates the verification of original data and all transcoded data for each processing step up to the final production of the data output.

 

Finally, thanks to automated scheduling functionality, the solution automatically produces the expected cash flows on a daily basis.