SmartStream's RDU Success Story
RDU, The Reference Data Utility, is an industry lead utility initiative that provides financial institutions with accurate, timely, and reliable instrument/securities reference data in a cost-effective way it once and correctly for the industry. RDU reduces the headaches and problems associated inaccurate and inconsistent data that negatively affects electronic trading and algorithms, pre & post-trade settlements, risk management systems, regulatory reporting, etc. RDU’s laser-like focus on data accuracy, timeliness, and reliability comes from our demanding clients that strive for 100 percent accuracy so we employ a best-in-class Data Quality Program that cleanses, validates against rules, normalizes, cross-references, and enriches data which ensures substantial reduction in exceptions, trade breaks and fails, and other downstream problems associated with inaccurate and inconsistent data.
'NAFIS is the place where leaders in the data industry go to exchange ideas and information; keep abreast of new technology, services, and regulations; network; and conduct business. Where you get one new client, or many, the show is a good place to be if you’re in the data industry.'
RDU’s challenge is getting the word out to industry participants. Every financial institution has challenges with instrument/securities reference data, however, change happens at a slow pace. The first part in change is letting people know about new services like RDU, educating them, and showing them how it positively impacts their business.
- Visibility and awareness
- We met a good number of people that were interested in learning about the RDU
- We generated a number of leads
- Plans in place to convert these leads in to sales and revenue.