ELS disclosure comparison table builder
ELS and ELB product data is collected automatically from each securities firm. Product structures written as text are split into columns for maturity, observation interval, and early redemption terms, all in a single table.
Product comparison
Before
Checked firm by firm
After
Compared by term in one table
To protect client information, these screens recreate the same features with mock data.
Background
Derivative-linked securities each come with different terms: the length of maturity, how often early redemption is assessed, the underlying assets, and the level at which the product enters the loss zone. Those terms are spread across each securities firm’s disclosure pages.
What we found
Comparing products meant opening each firm’s website in turn, and every site is structured differently. Even with everything collected, the products still could not be compared, because the terms are written as text.
만기3년 조기상환형 (85-85-80-80-75-70) KI45
To a person this is one line, but it holds a 3-year maturity, a 6-month observation interval, early redemption levels for each observation date, and a Knock-In of 45. Unless it is split into separate fields, it still has to be read by eye even after it is placed in a table.
The problem
The harder part was not collection but turning text into columns. Only then can terms be compared with a single sort or filter. Otherwise, the work of opening files goes away, but the work of comparing remains.
What we built
- Source URLs by firm — Staff register and edit which page to collect from for each securities firm on screen. If a disclosure page moves, only that row needs updating
- Selective collection — Scan all registered firms or only the ones needed
- Structure parsing — Maturity in years, observation interval, Knock-Out, and Knock-In are extracted from the product structure notation into separate columns
- Underlying assets split out — Up to three indices or individual stocks are placed in separate columns
- Excel conversion and merging — Results from each firm are combined into one file. A button opens the output folder directly, so results are easy to find
- Job status — The screen shows how far collection has progressed
Results
The program was built and delivered in about two weeks. 27 products sit in one table, with currency, early redemption date, maturity date, return, underlying assets, Knock-Out, and Knock-In each in its own column. A single sort compares products by any term.
Related work is listed under Web data collection.
Related work is also listed under Data analysis.