Lynx Financial Launches Passage Data Model For Investment Processing

BOSTON--Lynx Financial has introduced an investment processing data model that allows operations managers to ensure that all investment applications receive consistent information. The system, which runs in a number of database management environments, is aimed at reducing operational risk caused by mismatches between trading and settlement systems.

The new data model -- Passage -- was launched early this month. Passage is Lynx's second product; the first was Tradelynx, a FIX engine. The firm's background is in providing consulting services to the financial services industry.

According to Lynx president Jacqueline Alvarez, Lynx decided to productize the Passage data model after identifying a gap in the marketplace. She says the system cuts down on the manual reentry of data between a firm's various operating units and departments, thus reducing the possibility of inconsistent data. This in turn lessens the chances of various investment processing applications' dealing with incorrect information.

Passage is a security master database that runs with Oracle, Sybase, DB2, Informix and Microsoft SQL Server database systems. It creates a central repository for all transaction data across all instrument classes. It can handle trades in equities, fixed income, convertibles, options, futures, commodities, indexes, swaps, baskets and currencies.

In addition to ensuring that all disparate trade information is captured accurately, Passage monitors all data to check that the appropriate accounting principles have been applied. This is aimed at applying a consistent approach to management of information as it's processed throughout the enterprise.

Passage has been designed to run with applications covering a number of functions. These include security terms and conditions, portfolio management and trading, accounting, settlement and clearing, client accounting, and administration and user access.