Reference data
Trusted data fundamental to AI efficacy across the capital markets
As firms modernize infrastructures and embed AI into critical workflows, high-quality pricing and reference data will continue its evolution from operational necessity to competitive advantage
How governance-first architecture stabilizes complex systems
Chetan Patil argues that many transformation projects fail not because of the technology but because of weak data governance. Adopting a governance-first discipline early (and building speed, resiliency, and credibility over time) is best.
US regulators remove FIGI proposal from joint FDTA rules
The Financial Data Transparency Act’s final rules omit an earlier proposal to establish the FIGI as a common financial instrument identifier across regulatory reporting activities.
A new market data hope or an expanding Empire
Market data is now part of systemic infrastructure rather than just a commercial product. Tim Versteeg questions if market data is becoming too powerful to fail.
Data industry spend hits $50B for first time in new report
A new product by BCG Expand will track market data vendor size and market share as it seeks to show data users where the market is heading.
Waters Wavelength Ep. 349: The other Amsterdam and more Cusip drama
This week, Reb joins Shen to give an update on the latest legal fight involving Cusip Global Services.
The public market data formula is coming to private markets
As interest in private markets grows, S&P Global, Bloomberg, and ICE are including increasingly valuable data in their offerings.
SocGen streamlines corporate actions with Euroclear tool
The French bank is deploying the Cash+ service to help improve the elective dividends process.
Securities industry nears tipping point for dual messaging standards
Industry groups call for a freeze on ISO 15022 maintenance to accelerate ISO 20022 adoption.
GenAI and data quality converge at T. Rowe Price’s (Data) Lake Como
Jay Como was hired by T. Rowe Price in 2023, just as generative AI was rippling across the capital markets. Rather than accepting data quality as a hindrance to AI development, his team wants to use AI and agents to help solve this long-standing issue.
Pennsylvania entity files antitrust suit against Cusip Global Services
Complaint challenges CGS’s position as the US national numbering agency.
Identity resolution is key to future of tokenization
Firms should think not only about tokenization’s potential but also the underlying infrastructure and identity resolution, writes Cusip Global Services’ Matthew Bastian in this guest column.
TMX eyes global expansion in 2026 through data offering
The exchange operator bought Verity last fall in an expansion of its Datalinx business with a goal of growing it presence outside of Canada.
Will overnight trading in equity markets expand next year? It’s complicated.
The potential for expanded overnight trading in US equity markets sparked debate this year, whether people liked it or not.
Plaintiffs propose to represent all non-database Cusip licensees in last 7 years
If granted, the recent motion for class certification in the ongoing case against Cusip Global Services would allow end-user firms and third-party data vendors alike to join the lawsuit.
How to build a solid business case for market data optimisation
Build a business case that gets a 'yes'
Messaging’s chameleon: The changing faces and use cases of ISO 20022
The standard is being enhanced beyond its core payments messaging function to be adopted for new business needs.
A network of Cusip workarounds keeps the retirement industry humming
Restrictive data licenses—the subject of an ongoing antitrust case against Cusip Global Services—are felt keenly in the retirement space, where an amalgam of identifiers meant to ensure licensing compliance create headaches for investment advisers and…
LLMs are making alternative datasets ‘fuzzy’
Waters Wrap: While large language models and generative/agentic AI offer an endless amount of opportunity, they are also exposing unforeseen risks and challenges.
Best data governance solution—Siepe
Siepe wins Best data governance solution at the IMD & IRD Awards 2025.
Best reference data initiative—Derivatives Services Bureau
The DSB wins Best reference data initiative at the IMD & IRD Awards 2025.