Telekurs says that Mellon Financial has bought its Valordata Feed as part of its enterprise-wide, global reference data infrastructure.
Mellon, using subsidiary Eagle Investment Systems’ (Eagle) data management application, will use the Valordata Feed (VDFTM) to integrate a broad range of securities reference data from VDF – including security descriptions, ID cross-reference and corporate actions/events – into Mellon’s Eagle PACE solution.
Eagle PACE is a data management platform that provides connectivity and data integration from numerous sources and consolidates it in one location, providing a consistent view of investment data.
Consolidating its security master data on the Eagle PACE platform has provided significant benefits to Mellon’s internal and external customers, as it allows Mellon to clean, enrich, extract and distribute data to meet the dynamic reporting and information requirements of the enterprise, as well as the clients.
“We chose Telekurs because of its unique combination of structured database and fully encoded data, as well as extensive global coverage and high quality,” says Amy G. Harkins, Mellon senior vice president and managing director of Mellon market data and director of global asset servicing. “Mellon’s security master file covers descriptive and pricing data for our extensive securities selection, along with corporate actions, which are critical to the effective management of our various customer and internal portfolios. By enriching the Eagle PACE environment with data from Telekurs’ Valordata Feed, Mellon is able to further eliminate human intervention in the security master workflow. This is an invaluable addition to our drive toward STP.”
“Eagle PACE provides the ideal staging platform for the completely encoded data from Telekurs VDF,” says John Lehner, Eagle president. “The synergies of the software and the data will provide extensive benefits to Mellon and other mutual customers in terms of enhanced data quality, improved data processing, reduced errors, extended data extraction and reporting capabilities,” he adds.