Data Quality's Regulatory Vulnerability
Regulation & Standards special report Q&A with Mark Bands of ANZ Institutional Bank
What facet of data operations is most vulnerable to regulatory compliance issues?
Data quality management. There is now an unprecedented need to collect, evaluate, categorize, compile and report information to regulators. The January 2014 report by the Senior Supervisors Group of the New York Federal Reserve Bank highlighted ongoing issues within banks related to the need for both timeliness and quality in the underlying reporting data. The nexus of data virtue and the need for speed remains the single-most at-risk aspect of data operations today.
How prepared is the industry to comply with new regulations addressing derivatives data management issues, such as AIFMD and CFTC rules?
Across the industry-hedge funds, investment banks, broker-dealers and exchanges-the level of preparedness with respect to data quality, operating model development and technological capability remains misaligned. This is due to firms having started from dissimilar baselines. More practically, different firms have demonstrated divergent levels of organizational flexibility needed to meet the host of challenges presented by the ever-evolving regulatory context.
Has the proliferation of transaction and customer identifiers proved beneficial to data management?
It has. The legal entity identifier, unique swap identifier, unique product identifier and unique trade identifier are all unique, unambiguous and universal codes for use in financial transactions. These are aimed at enabling data aggregation across different business units of multiple financial firms, globally. They have not yet provided the transparency panacea regulators hoped for, but data managers now have a data "genome" with which they have at least commenced trying to meet mapping and aggregation goals.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Bank-led consortium takes aim at position reporting
Five banks, including Barclays, BNP Paribas, Goldman Sachs and HSBC, have joined forces to mitigate interpretation and implementation errors in position reporting disclosures.
This Week: BBH, AllianceBernstein add data solutions, Deutsche Börse-Nodal Exchange, and more
A summary of some of the latest financial technology news.
Consortium backs BGC’s effort to challenge CME
Banks and market makers—including BofA, Citi, Goldman, Jump and Tower—will have a 26% stake in FMX.
Symphony boosts Cloud9 voice offerings with AI
The messaging and collaboration platform builds on Cloud9’s capabilities as it embraces the AI wave in what CEO Brad Levy calls “incremental” steps.
Can exchanges leverage new tech to claw back ETF share from RFQ platforms?
Systematic trading strategies and proliferating data are bringing efficiency to an otherwise-fragmented European ETF market.
Nasdaq reshuffles tech divisions post-Adenza
Adenza is now fully integrated into the exchange operator’s ecosystem, bringing opportunities for new business and a fresh perspective on how fintech fits into its strategy.
Liquidnet sees electronic future for gray bond trading
TP Icap’s gray market bond trading unit has more than doubled transactions in the first quarter of 2024.
This Week: HKEx's new derivatives platform; GoldenSource; Quonian-SimCorp, and more
A summary of some of the latest financial technology news.
Most read
- Chris Edmonds takes the reins at ICE Fixed Income and Data Services
- DTCC urges affirmation focus ahead of T+1 move
- Women in Technology & Data Awards 2024: All the winners and why they won