Banque Privée Edmond de Rothschild and IPS

Banque Privée Edmond de Rothschild and IPS
Timed to global exchange closures.
Banque Privée Edmond de Rothschild is
capitalizing on the flexibility and timeliness of
SIX Financial Information’s Intraday Pricing
Service (IPS). With this fast, efficient and flexible
service, the client chooses to time its pricing
snapshots to specific exchange closures across
global time zones.
Historic origins
Banque Privée Edmond de Rothschild is one of the
world largest independent financial advisory groups.
With over 1,700 employees worldwide, spread over
40 countries such as Beijing, Dubai, London, Paris
and New York. In Geneva, Banque Privée Edmond de
Rothschild is one of the largest private banks focusing on private banking, wealth engineering and investment research. The bank pays close attention to the
performance of their structured products, funds and
portfolio management, always tailoring their services
to clients needs.
Hunting for flexible intraday pricing
Banque Privée Edmond de Rothschild aimed to reduce
their costly and time consuming process of obtaining
end-of-day prices and looked to get automated realtime prices more efficiently. The ultimate goal was
to close customers’ deposits immediately after the
market closure, especially for customers’ deposits for
Asian entities and Asian clients, where delays were
up to 2 days.
Banque Privée Edmond de Rothschild was shopping
for an efficient and flexible solution, but most of all it
had to be reliable. Another important criteria was that
the bank wanted to diversify the sources, in that they
did not want to rely on a single data flow or form of
technology.
Since Banque Privée Edmond de Rothschild, has
been a satisfied customer of SIX Financial Information
Valordata Feed (VDF) for many years, it was a natural
choice to consider existing SIX Financial Information
products. As Marc-Henri Balma, Director Securities & Cash Administration at Banque Privée Edmond de
Rothschild states, “Partnering with SIX Financial Information was our preferred choice for this project. Since
we already receive a vast amount of high-quality data
from VDF, it made sense to exploit the synergies to be
able to achieve our goals in time and within budget.”
A stand-out service
SIX Financial Information’s IPS combines a world class
securities database with a flexible delivery system for
superior asset servicing and portfolio valuation. SIX
Financial Information showcased how IPS delivers
precise snapshots in a single, consistent format timed
to client specifications.
Additionally, the two flows, VDF and IPS, speak the
same language, making them easy to integrate but
use two different technologies. Thus fulfilling the
source diversification requirement set by Banque
Privée Edmond de Rothschild. In the event of IPS experiencing technical problems, this will not affect the
VDF flow, which works using a different technology
and environment.
LSS 17:15 / 17:35
TOR 17:00 / 17:15
TYO 15:00 / 15:15
ENX 17:30 / 17:45
HKG 16:00 / 16:15
NMS 16:00 / 16:15
NYX 16:00 / 16:15
SWX 17:35 / 18:05
ETR 17:30 / 17:45
Stock Exchange Closing Time / IPS Time (Local time)
IPS provides snapshots within a close range of the
local stock exchange closing time.
SIN 17:00 / 17:20
SAO 20:00 / 20:15
In an unanimous decision, the management of Banque
Privée Edmond de Rothschild chose to move forward
with IPS. However, prior to fully committing to the
service, testing was required to ensure data reliability
and timeliness. “We quickly realized that the Intraday
Pricing Service was the one solution that fulfilled all
of our business and technical requirements,” reflects
Marc-Henri Balma.
Flawless implementation
Banque Privée Edmond de Rothschild Geneva’s financial data warehousing and data management solutions
provider, DERAM S.A., worked side-by-side with SIX
Financial Information to test and implement the new
service. DERAM’s extensive experience with multiflows enabled them to see the advantages of an intraday flow for obtaining the latest prices. With IPS,
updating can be managed easily, even in different
geographic zones.
The objective of the IPS testing, was to ensure that
implementation of the service was up to par with the
client expectation. The entire testing period lasted
about 1 month, and DERAM was able to retrieve reliable statistics on the quality and robustness of the
implementation.
03.13 / PDF only / def+us
Each day of the testing phase, DERAM drew up statistics on approximately 30,000 instruments. The results
were in line with DERAM’s expectations and those of
Banque Privée Edmond de Rothschild. The IPS prices
that differ from VDF concern only 1.6 per thousand
on average of the 30,000 prices – marking it a remarkable result.
“The quality, robustness and timeliness of the IPS data
is excellent. Furthermore, the entire implementation
process was on time and worked seamlessly,” reaffirms Tony Zanetti, CEO of DERAM S.A.
Profiting from real-time prices
Since the implementation phase was finished in the
fall of 2012, Banque Privée Edmond de Rothschild has
been benefiting from the latest pricing data, in the format that best suits their needs. “IPS has enabled us
to save a significant amount of time by being able to
automatically retrieve the pricing data when and how
we need it, which enables us to give even more focus
on our clients,” comments Marc-Henri Balma.
As a result of the complexities associated with different time zones and exchange closures, the timeliness
of IPS enables the bank to meet the needs of the various entities on other continents which experienced
significant delays such as the Americas and Asia. IPS
allows Banque Privée Edmond de Rothschild to close
their deposits at the closing of each market, which
significantly reduces the processing time and power
utilized by local IT infrastructure.
IPS benefits at a glance:
– Unlimited daily price, index and currency
snapshots from an extensive global database
updated 24 / 7.
– Multiple delivery formats with flexible choice of
delivery frequency and selection of price types.
– Consistent format ensures high quality data and
supports regulatory compliance.
– Customized price data delivered at exact times.
For more information, please contact your local SIX Financial Information office and a representative will be happy to assist you.
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