Wake-Up Calls
![michael-shashoua-waters michael-shashoua-waters](/sites/default/files/styles/landscape_750_463/public/import/IMG/317/167317/michael-shashoua-waters.JPG.webp?h=acfe3244&itok=ceJMABf4)
As a new father, I'm getting used to being alerted to very pressing and immediate needs. That also appears to be happening in the feature stories we present to you in this issue, covering topics such as semantic data, trade identifiers, front and back office data dialogues, non-display data usage and also the ever-present topic of big data.
Semantic data technology, as David Newman of the EDM Council tells us, is catching the industry's attention for the operational benefits it can provide. Semantic technology can be used to present data in a way that both people and machines can understand. That makes it more likely that firms can cost-effectively identify and monitor data, by using logical concepts.
The European Market Infrastructure Regulation (EMIR), which includes trade reporting requirements that took effect February 12, as noted in last month's issue, has gotten the industry's attention by establishing Unique Trade Identifiers (UTIs). Nicholas Hamilton delves more deeply into what is involved in working with UTIs. UTIs have been a challenge, in part because specifications for them were incomplete right up until the day before the EMIR deadline. For many firms, this last-minute bit of guidance required them to revise the working definitions they had come up with based on the little they knew.
Front and back offices have had a longstanding rivalry and mutual suspicion-or even mutual contempt. Nonetheless, reference data professionals are taking notice that navigating this divide is increasingly necessary to make constructive progress on their issues.
A policy recommendation issued by a FISD working group is the opening salvo of what could become a fight over fees to obtain non-display data. FISD's Business Issues Policy and Procedures (BIPPS) group asserts that delayed and end-of-day non-display data should have lesser or no fees compared to what is charged for real-time non-display data. The group's reasoning is that less timely forms of this data are neither valuable nor trackable. But the group's membership includes exchanges, some of whom would certainly like to be charging more for all forms of data generated by their activity.
Why does big data still puzzle some in the industry, and face barriers to adoption? That's another facet of data management attracting attention. In "Work in Progress," we hear about how and why many firms are revising their big data strategies.
One final alert: coinciding with this issue, Nicholas Hamilton has been promoted to deputy editor of Inside Reference Data, in well-deserved recognition of the expertise he now has in this subject matter and his excellence in translating developments and news for you. Congratulations to him.
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
‘Feature, not a bug’: Bloomberg makes the case for Figi
Bloomberg created the Figi identifier, but ceded all its rights to the Object Management Group 10 years ago. Here, Bloomberg’s Richard Robinson and Steve Meizanis write to dispel what they believe to be misconceptions about Figi and the FDTA.
SS&C builds data mesh to unite acquired platforms
The vendor is using GenAI and APIs as part of the ongoing project.
Aussie asset managers struggle to meet ‘bank-like’ collateral, margin obligations
New margin and collateral requirements imposed by UMR and its regulator, Apra, are forcing buy-side firms to find tools to help.
Where have all the exchange platform providers gone?
The IMD Wrap: Running an exchange is a profitable business. The margins on market data sales alone can be staggering. And since every exchange needs a reliable and efficient exchange technology stack, Max asks why more vendors aren’t diving into this space.
Reading the bones: Citi, BNY, Morgan Stanley invest in AI, alt data, & private markets
Investment arms at large US banks are taken with emerging technologies such as generative AI, alternative and unstructured data, and private markets as they look to partner with, acquire, and invest in leading startups.
The costly sanctions risks hiding in your supply chain
In an age of geopolitical instability and rising fines, financial firms need to dig deep into the securities they invest in and the issuing company’s network of suppliers and associates.
JP Morgan’s goal of STP in loans materializes on Versana’s platform
The accomplishment highlights the budding digitization of private credit, though it’s still a long road ahead.
As data volumes explode, expect more outages
Waters Wrap: At least for those unprepared—though preparation is no easy task—says Anthony.