Press Release
October 6, 2015

Goodwin Advises SmartStream in Partnership with Major Banks to Create New Reference Data Utility

Goodwin Procter attorneys advised SmartStream in its recently announced partnership with Goldman Sachs, JPMorgan Chase and Morgan Stanley to create SmartStream Reference Data Utility, informally known as Securities Product Reference Data (SPReD). The banks will be clients of the utility, which provides services for instrument reference data normalization and validation across asset classes. SPReD operates around the clock from centers in New York, London, Bristol, San Jose, Mumbai and Bangalore.

SmartStream provides Transaction Lifecycle Management solutions and Managed Services to transform the middle and back-office operations for financial institutions. The company has over 1,500 clients, including 70 of the world’s top 100 banks. SmartStream is based in London.

The Goodwin Procter team advising SmartStream was led by Ilan Nissan and Oreste Cipolla (Corporate), Bill Weiss (Tax) and Joel Lehrer (IP).

To learn more, please read the joint press release. Coverage of the partnership included an August 19 article in The Wall Street Journal.