SemLab is currently entering a Shared Reference Data project with distributed ledger technology, in order to simplify reference data processes. Reference data is a headache for financial instrument services, where there is a lack of coordination, legacy data systems and inefficient processes. SemLab will make the current legacy obsolete and stop the need of having own record keeping with inevitable and costly inconsistencies that need to be reconciled. The project aim is to tackle these problems through the distributed ledger prototype simulate the collaborative management of reference data, as well as the use of that data for corporate bond issuance. The project is now open for participants in the financial service industry. Data suppliers, buy- and sell side participants will be part of the project, benefit in first user experience in crypto data.
Participants could interact with reference data after issuance, with any proposed changes requiring validation by the underwriter to ensure the ledger provided a single, immutable record of all data related to the bond. The partners allowing regulators and network participants to view in real time which parties on the ledger have created, issued and proposed amendments to the data record.
The project outcome is a shared reference data platform based on disturbed ledger technology. Results intend to demonstrate accurate and automated blockchain ref data and reduce reference data costs while improving latency and operational risks in back offices. Reference Data will be managed by one sophisticated agile system without the need of own data copies.
SemLab is combing Artificial Intelligence and Blockchain technology to cover over 15 million financial instruments in more than 200 markets, to improve risk management, maintain compliance with regulatory mandates and maximize operational efficiency. Artificial Intelligence, eg natural language processing, machine learning is used in text analytics in order to integrate reference content correctly.
For more participating in the first crypto-data blockchain project please contact sales@semlab.nl