Two distinct assets, and only one is licensable data

SMARTSTREAMManage supplier listing

Two distinct assets, and only one is licensable data. (1) Reconciliation telemetry generated by running a trade-lifecycle reconciliation platform across FX, money markets, derivatives, fixed income, equities, repo and commodities: a normalised, linked 'golden record' per trade stitched across execution venues, booking tools, confirmation platforms, clearing houses, settlement systems, valuation engines and the general ledger, with every lifecycle event timestamped, plus the exception and break population itself — two-way and three-way matching results against counterparties and clearing utilities, break reasons and trends, settlement timeliness and straight-through-processing rates. (2) A maintained static-data estate sold as Reference Data Services: standing settlement instructions, standing payment instructions, asset and security master data, PSET data and safekeeping records. The golden-record layer is the interesting byproduct — a cross-system reconciliation of the same trade as seen by six or more independent systems, effectively a labelled corpus of real-world data disagreement and correction; the reference-data estate is the conventional licensable product.