Thomson Reuters is to supply reference data to SmartStream’s Securities Product Reference Data utility. As part of the agreement, SmartStream will have access to Thomson Reuters PermID, a machine-readable identifier that creates a unique reference for any data item. The SmartStream utility will provide services for instrument reference data normalisation and validation across all asset.

“We see tremendous benefits to the financial industry embracing a centralised reference data utility,” said Philippe Chambadal, chief executive of SmartStream. “Trusted and reliable reference data will continue to drive our business and that of our growing clients. Our utility is designed to ensure that our clients have full access to the most comprehensive reference data available.”

The utility will provide clients with a multi-tenanted, auditable environment for data collection, cleansing, and change management based on customised integration standards to generate a bespoke security master database.