Asia-Pacific Tour Diary 1
In Sydney, for today's first of SIIA/FISD's Asia-Pac 2012 events, while preparing to moderate a panel discussion on obtaining high-quality reference data for risk mitigation, I heard from Tim Chamberlain, vice president of data strategy and operations, Asia-Pacific at Standard & Poor's, about the rating agency's use of outsourcing and offshoring to obtain that high quality in its data.
S&P recently established new data operations in India and China, with 700 staff in three locations—Mumbai for ratings, Delhi and Hyderabad for the S&P Capital IQ unit. India offers a well-educated, smart and motivated pool of staff to draw from for data work, Chamberlain finds. S&P's China data operations in Shanghai and Beijing provide a geographic advantage by putting the company closer to the market, in the same language, explains Chamberlain.
Japan, in contrast, has always been more difficult for the data business because of the language barrier for data, with financials not being reported in English. In India, for example, English language does work for data operations, notes Chamberlain. The question of suitability of different countries for data operations appears to have surpassed the cost considerations in the Asia-Pacific region, he says.
At one time, cost alone might have been enough of a deterrent to placing data operations in Japan, but the increasing importance of language and geography has made the market even more challenging, it now appears. In a way, this is a contrasting Asia-Pacific view of the cultural challenges of the Japanese market, or an opposing take about that market, but one having to do with something other than only regulation.
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.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
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. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Data Management
American Bankers Assoc. asks SEC: Do you know what you’re doing?
The industry group disagrees severely with regulators’ interpretation of the Financial Data Transparency Act, hinting at possible legal action in a recently published comment letter.
South Africa’s equity markets court HFTs with tech upgrades
Competition for flow has driven innovation in connectivity, risk, and data provision.
OneTick taps HFT start-up Lo:Tech for crypto market data
Lo:Tech’s founders come from the quant and high-frequency trading space.
JSE rolls out exchange data to cloud Marketplace, built with DataBP
The move—part of a broader cloud migration at the exchange—allows financial firms to connect and subscribe to JSE news, market data, and analytics via the cloud.
Bloomberg launches alt data-driven consumer spend index
The combination of alternative data and traditional macroeconomic data will provide insights into a key component of the US economy, as demonstrated by the data’s use by Chicago’s Federal Reserve Bank.
Kepler Cheuvreux builds proprietary execution platform with Adaptive
The broker wants to move away from third-party technologies as DORA’s risk management requirements could make vendor relationships more cumbersome.
Industry seeks to avoid future clashes over data costs
The IMD Wrap: Max wonders when and why buying data became a blood sport.
Facing platform shutdown, former IEX Cloud head buys its assets in 11th-hour bid
Tim Baker, Pedro Aguayo, and a silent partner have come together to purchase IEX Cloud’s assets days before the exchange was to retire all its products on August 31.