-
USD1.5m
annual cost savings
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50+
new indices
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2x
faster turnaround
CLIENT CHALLENGES
- The index management team of a large UK-based index provider needed support with the daily generation of benchmark indices and required daily maintenance of the database of index stocks with attribute analysis such as of price movement, share changes, corporate action adjustment, dividends, IPO addition, suspension, delisting and cross-currency rates.
- The client also required a quarterly review of the constituents’ industry classification, free floats, foreign ownership restrictions and weights
OUR APPROACH
- Acuity’s team of index and technology analysts initially created a database of index stocks containing all requisite data points and automated tools to extract data from different data sources. They also created SQL and VBA programs to process a high volume of data into databases from different sources and generate a daily exceptions report for further investigation.
- A team of analysts investigated these exceptions from different market sources, exchanges and companies concerned and updated the database daily.
- SQL programs are executed daily to generate indices before the European markets open.
IMPACT DELIVERED
- The client is able to leverage Acuity’s support in index services to reduce the cost of maintaining indices, freeing up senior research capacity
- The client has added a good number of indices since enlisting Acuity’s support for index maintenance
- The indices are reported three hours ahead of schedule, helping the client reposition them to their clients
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