Business Challenge: The Bank's data infrastructure consisted of a myriad of independent legacy systems focused on individual processing requirements for internal business units or locations. Further complicating the infrastructure, each system utilized its own data model and required users to maintain & update

interfaces to a variety of external data vendors such as, Reuters, Bloomberg, etc. The growing data discrepancies between systems had been identified as a major source for increasing penalties & fees incurred as the results of late or failed trades. Additionally, the high operational costs for maintaining such a large number of systems coupled with the cost of the separate vendor agreements was seen as a draw on revenue.

Solution: By utilizing GoldenSource's software, the Bank was able to implement a centralized reference data repository capable of maintaining data across differing product types, lines of business, and geographies. In addition, GoldenSource lowered the operational and development costs for maintaining and creating new vendor interfaces. The Securities & Products solution is an open application architecture that allowed the bank to easily distribute data throughout the organization from the central repository, making it a major component of the Bank's infrastructure as it moves toward Straight-Through-Processing (STP).

Benefits: The Bank has indicated that purely by consolidating vendor contracts, and eliminating redundant feeds, they have been able to produce a significant annual savings, which will continue to grow as the use of the central repository expands throughout the Bank. In addition, the Bank has reduced operational costs. Specific return on investments included: Consolidation or elimination of data vendor contracts for current customers generating a net savings of 180,000 USD a year; Elimination of ad hoc security inquires across 8 departments creating a savings of 12,000 USD a month and the drastic reduction in penalties and fees related to trade failures.