The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

An Incremental and Practical Approach to Data Integration is Best, Agrees Golden Copy Repository Panel

Share article

In order to ensure that downstream departments remain in synch with central data management projects, firms must adopt an incremental and practical approach to data integration, agreed FIMA’s panel on the practicalities of managing a golden copy repository. Peter Giordano, executive director of institutional equities at Oppenheimer & Co, recommended that firms roll out the projects piece by piece rather than take a big bang approach to data management.

Chris Johnson, head of data management, Institutional Fund Services, Europe, for HSBC Securities Services, told delegates to focus on meeting the needs of “downstream consumers” by getting users around the table to discuss their data needs. “You also need to allow for differences across client groups,” he said.

Julia Sutton, global head of customer accounts operations at Citi, agreed that communication with user groups is key: “You need to let them vent and tell you the problems they are experiencing as well as what they want from their data in the future.”

Giordano also contended that time should be well spent before a project is launched to think of all the possible future requirements of the data system from user groups. He warned delegates to be aware that future data requirements may be changed by events such as mergers and acquisitions.

HSBC’s Johnson said that standardisation can only go so far as there remain complex downstream issues that cannot be standardised. “You should attempt to tackle as much as you can but understand that this cannot be done for every single area,” he said.
Sutton added that the data management endeavour is similar to “constant firefighting” and teams need to “keep digging away at it” to succeed.

Related content

WEBINAR

Recorded Webinar: Deploying cloud solutions in modern trading infrastructures

Don’t miss this opportunity to view the recording of this recently held webinar. Cloud technology and other hosted solutions are finding increasing favour in in modern trading infrastructures, but how best can they be deployed and what can they deliver? The webinar will discuss the challenges and opportunities of cloud and hosted trading solutions, and...

BLOG

NeoXam Partners With ICE on Pricing, Reference Data

Financial software firm NeoXam, which specialists in transaction software solutions, has integrated ICE Data Services’ pricing and reference data into its Enterprise Data Management (EDM solution). The new partnership will give NeoXam customers access to pricing, fixed income evaluated prices, reference data and corporate actions from ICE Data Services. The data will be available through...

EVENT

Data Management Summit USA Virtual

Data Management Summit USA Virtual will explore how sell side and buy side financial institutions are navigating the global crisis and adapting their data strategies to manage in today’s new normal environment.

GUIDE

Complex Event Processing

Over the past couple of years, Complex Event Processing has emerged as a hot technology for the financial markets, and its flexibility has been leveraged in applications as diverse as market data cleansing, to algorithmic trading, to compliance monitoring, to risk management. CEP is a solution to many problems, which is one reason why the...