The new offering combines LSEG’s pricing services with Yield Book analytics to create pricing information for around 2.9 million bonds with a 20 year look back period.

Regulatory reporting and risk management, security valuation and portfolio analysis, research, index strategy and historical simulations – among other analytics offerings – will be available via Snowflake as a delivery channel.

“The combination of Yield Book’s trusted, in-depth analytics and LSEG’s expertise in evaluated pricing delivers a robust and comprehensive suite of tools to empower clients,” said Emily Prince, group head of analytics at LSEG.

“These tools allow customers to back test portfolios, optimise strategies, and manage risk effectively. By offering this through Snowflake, we ensure seamless access to advanced analytics, enabling more efficient, scalable, and integrated solutions for our clients.”

The move builds on an existing partnership between LSEG and Snowflake. In September, LSEG launched a new cloud-based, ready-to-use enterprise data solution.

Named DataScope Warehouse, the new solution offers cloud-based access to LSEG’s fixed income and equity data records. The DataScope Warehouse will initially be delivered via Snowflake cloud infrastructure, with more cloud providers scheduled to be rolled out next year.

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Rinesh Patel

Named GoldenSource Omni, the solution works by combining operational and analytical investment data into a unified data model.

The native application is specifically focused on streamlining financial reference data integration and works by accelerating the process of onboarding financial reference data into the GoldenSource data model which in turn supports analytics and reporting on Snowflake’s Data Cloud offering.
 
Rinesh Patel, global head of industry, financial services at Snowflake, said: “Together, Snowflake and GoldenSource are enhancing the value offered to firms operating in the financial services sector. GoldenSource is an ideal partner for us with their deep market experience and unique data model that links data across domains, providing a more efficient way for joint customers to run analytics, derive insights and train AI models within the Snowflake platform.” 

GoldenSource Omni allows investment managers to effectively analyse portfolio holdings and exposures as well as more easily accessing specific attributes of a portfolio and automate attribution reporting. 

Jeremy Katzeff, head of buy-side solutions at GoldenSource, explained that this move comes as historically buy-side participants have struggled with the management of disparate datasets, exacerbated by the lack of a comprehensive data model.

“With the launch of GoldenSource Omni, datasets for different asset classes and functions can now be integrated and analyzed within a modern cloud-native environment in one place. Now, firms can replace outdated legacy systems with centralized, cloud-based enterprise data management that is far more efficient and cost effective enabling them to meet the challenges of today.”

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The integrated platform offered by Snowflake gives users access to data storage and processing and analytics solutions via the cloud.

Broadridge said the partnership would allow buy-side users to aggregate their own data and data from third-party vendors into Snowflake’s cloud platform for analysis.

“Data aggregation has continued to be a pain-point for asset managers. There is a strong and ever-growing need to interact with increasingly complex data sets from many sources with speed and efficiency, and our relationship with Snowflake will help our clients overcome these data challenges,” said Eric Bernstein, president of Broadridge asset management solutions.

“This is a continuation of Broadridge’s data strategy and strengthens our leadership position as a technology partner that can empower data-driven results for the asset management industry.”

The partnership follows news in February that Snowflake had teamed up with buy-side giant BlackRock to power its Aladdin Data Cloud platform, with the asset manager also becoming a founding partner in its “Powered by Snowflake” program to address data access challenges faced by the investment community.

Investment bank State Street also teamed up with Snowflake in December last year to launch its front-to-back cloud-native Alpha solution aimed at enhancing its data management offering for buy-side firms.

“With Broadridge as a part of the Snowflake Data Cloud, asset managers will be able to work more efficiently and can have their data work harder for them, allowing for greater collaboration and better results,” said Matt Glickman, vice president for customer product strategy for financial services at Snowflake.

This is the second partnership by Broadridge to the benefit of asset managers after the tech giant partnered with OpenFin earlier this month to deploy its operating system for financial desktops.

The move was aimed at boosting the productivity and efficiency of its trading and portfolio management solution available to asset managers, by giving them access to componentised apps with configurable layouts and intuitive workflows.

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Asset management heavyweight has confirmed plans to launch a new cloud-based data solution via its flagship investment operations platform, Aladdin, to centralise access to critical data for the buy-side.

Known as Aladdin Data Cloud, the new platform will provide a centrally-managed, independent data store equipped with front-to-back data sets from Aladdin which can also be supplemented with proprietary and other third-party sources of data.

BlackRock has teamed up with data cloud specialist, Snowflake, which will power the Aladdin Data Cloud platform.

The project aims to offer investment managers more centralised data access and the ability to query their data on a single, cloud-based platform, fostering operational efficiency across their business.

“Aladdin has been on a journey for three decades to put data at the heart of the investment process. We’re excited to be working with Snowflake’s innovative technology as we enter the next phase of that journey,” said Rob Goldstein, COO of BlackRock.

“Today, each client is able to customise on top of Aladdin and with their instance of Aladdin Studio and the Aladdin Data Cloud, they will have more powerful tools than ever at their disposal.”

The pair confirmed that BlackRock would also be becoming a founding partner in Snowflake’s “Powered by Snowflake” program to further address challenges faced by the investment community around data access in the future.

“With Aladdin as a strategic part of Snowflake Data Cloud, our goal is to create a new industry standard in financial services for accessing, governing and acting on data in a unified and secure data environment,” said Frank Slootman, CEO of Snowflake.

The partnership with snowflake is the latest in a series of developments for BlackRock’s Aladdin platform recently. 

Earlier this year, BlackRock expanded sustainable insights available on Aladdin with the acquisition of a minority stake in data science and sustainable investing analytics firm, Clarity AI. It also launched a software application, Aladdin Climate, aimed at allowing investors to quantify climate risks within portfolios.

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