542 Digital consulted on, designed and built a bespoke data management system for World Gold Trust Services and State Street Global Advisors to harvest, archive, process and publish performance data for the Exchange Traded Fund SPDRgoldshares (GLD).
Reliability, redundancy and security were critical factors in designing the system and its hosting requirements; as was compliance with stringent industry regulations. Our systems and management processes were scrutinised in January 2016 and approved by Ernst &Young.
The system we built became known as Financial Server and has been continually updated, expanded and enhanced since 2004. Every element of the system: data sources, contacts, formulae, server setups etc., has been meticulously documented in an online ‘Wiki’ infopedia available to clients and developers alike.
GLD ‘s primary listing is on the New York stock exchange with secondary listings on exchanges in Singapore, Hong Kong, Tokyo and Mexico City.
Financial Server harvests product data from five exchanges in different time zones, using different currencies, trading hours and regulations. In addition to this the system archives gold spot price data and FX rates to produce performance figures which are published in the form of dynamic tables and charts within the website and disseminated to stakeholders including the NYSE in the form of xml feeds and .psv files.