BACKGROUND

A leading global provider of integrated solutions for institutional asset managers used Markit EDM to provision the security master supporting their multi-client investment management platform. The organization wanted to adopt an approach that would extend the capabilities to also satisfy their wealth management (and banking) security master needs. Both within and outside of Investment Management Services, their clients have growing demands for customization. Meradia was engaged to facilitate and contribute to a series of design workshops with the aim of answering three key questions:

  • Could Markit EDM (and the supporting systems) meet the growing needs of the Investment Management Service and the requirements from Wealth Management Solutions?
  • What changes would need to be made to the existing Markit EDM implementation in order to meet these extended requirements?
  • Is Markit EDM the appropriate platform to move forward with in the attempt to deliver a single, shared, enterprise security master?

ANALYSIS AND RESULTS

The client’s decision timeline dictated that we approach the recommendation project in an expedited manner. Meradia’s Markit EDM lead had originally helped the client design their Investment Management Services security master and so was able to expedite current state analysis by focusing on deployed changes compared to original design. With this baseline, Meradia convened a series of workshop sessions with representatives from technology, data management and business stakeholders from each of the business lines to understand actual requirements, translate these into common frames of reference, and investigate any technology or architecture constraints and programs that would impact decisions. The output from these workshops were translated into a prioritized list of both shared and unique requirements and then measured against current capabilities as well as planned enhancements to identify gaps and estimate the work effort to remediate. The client was able to use this output to estimate the costs of adopting Markit EDM as the preferred solution and to compare this to an internal alternative platform. Further, Meradia’s deliverables included detailed recommendations for enhancements to the existing platform and, where required, restructuring to meet the additional requirements.

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