Tools launched to enable easier integration to LM TOM services
The London Market Target Operating Model (LM TOM) Data Programme has launched a suite of three tools – known collectively as Common Services – to facilitate integration and access to LM TOM services in a simple, secure and standardised way:
- Single Sign On – enabling users to access LM TOM solutions seamlessly through a single username and password. For most users, this will be the same credentials used to access their workplace IT services. The system works without the need for any passwords to be shared with LM TOM and reduces the number of times a user has to login to different systems.
- API Gateway – an easy way for firms to integrate LM TOM and third-party services in their own back office IT systems, helping firms to adopt new solutions quickly and efficiently.
- Secure Data Exchange – an optional component providing a channel to exchange securely encrypted files of any type up to 1GB between market participants and, in time, with LM TOM solutions.
Facilitating internal and external integration of LM TOM Solutions plays a crucial role in increasing the adoption of different parts of the LM TOM Modernisation Programme and represents a systemic shift in the way that the London Market will consume and access services and data in the future.
Joe Dainty, Global Head of Operations at Lloyd’s and Change Sponsor of the LM TOM said: “This represents a year of hard work from the LM TOM team, TMEL, market firms and vendors. This project sits at the heart of the LM TOM and it is good news that it has the potential to deliver efficiencies, ease of use for users and easier integration for straight-through processing.”
Mark Chapman, Group CIO of Global Aerospace and Chair of TMEL Board commented: “This is a really useful set of tools into which existing systems can easily integrate, creating a strong foundation for more to come. We are very proud that TMEL – which is already providing The Message Exchange to over 100 market firms – is now able to offer these services to the whole market. From the initial design stage, through the development and testing phases – and in the critical task of agreeing the Market User Agreement – a number of market firms have been pivotal to our work with their invaluable feedback and support. We would like to thank all those firms involved for their time and effort.”
DA SATS will be the first solution to use the Single Sign On to provide access for users in market firms. DA SATS will also use the web API Gateway to access essential reference data from multiple market sources, including the Market Business Glossary. This method of accessing reference data will also be available for market participants’ system-to-system use.
All these components are based around Microsoft’s Azure B2B service. The majority of market organisations already have some form of Azure presence, but even if a business does not it will still be able to use many of the tools.
The team is engaging with market firms and vendors to establish what other applications and APIs can be provided. To get involved, or to find out more about the Common Services, please visit tomsupports.london/common-services or email CS@tomsupports.london (For information about DA SATS, please visit tomsupports.london/delegated-authority).