FIA Tech And JDX Partner On Global Product Reference Database

FIA Technology Services (FIA Tech) announced the creation of a global reference database of exchange-traded derivative product data which is being implemented across all FIA Tech services.  The database, which is available free of charge to all FIA Tech Brokerage Services subscribers, was compiled in partnership with JDX Consulting. 

The reference database will include industry-wide contract-level specifications including symbols, official contract descriptions, and currency information.  Additionally, the database organizes contracts into standardized groupings to simplify brokerage processing. 

“This database will allow our clearing member customers to seamlessly connect to and integrate with industry systems, vendors and exchanges,” said Nick Solinger, president of FIA Tech.  “Using a single golden source will improve efficiency and interoperability.  We anticipate reduced data management costs for our customers, their IT providers as well as fewer breaks in post-trade and brokerage processing.”

“The industry is focused on consolidation, standardization and simplification,” said Devika Darbari, CEO Americas of JDX Consulting. “The creation of a single global reference database of exchange-traded derivative products is a welcomed solution, which will help the industry gain these key objectives along with creating efficiencies, reducing costs and ensuring the effective management of reference data. JDX were honored to have been selected and partner with the FIA Tech to bring this solution to the market.”