BCBS Says Bank Compliance with Risk Aggregation Principles is Unsatisfactory
The Basel Committee on Banking Supervision (BCBS) reports that the level of compliance with its principles for effective risk data aggregation and reporting is unsatisfactory at globally systematically important banks (G-SIBS). It urges the banks to step up their efforts and recommends that they should develop clear roadmaps to achieve full compliance, supervisors should communicate...
OFR Closes Data Standards Breach with Financial Instrument Reference Database
The US Office of Financial Research (OFR) has stepped into the reference data standards debate with plans to prepare and publish a financial instrument reference database including a set of standards for creating and describing financial instrument reference data. The OFR also plans to add a taxonomy or ontology to establish how instruments relate to...
Challenges of MiFID II Reporting Leave Firms Unready for Compliance
Few financial institutions are ready to meet the requirements of transaction reporting under Markets in Financial Instruments Directive II (MiFID II), while many are facing ongoing challenges including understanding the regulatory requirement, sourcing required data and integrating standard data codes. The data management challenges of MiFID II transaction reporting, approaches to compliance, and the benefits...
Hany Choueiri Argues the Case for Information Standards
The biggest challenge to the fourth industrial revolution that will put artificial intelligence (AI), robotics and big data centre stage is a lack of widely agreed information standards caused by obsession with technology rather than information. Hany Choueiri, head of data governance and strategy, EMEA, at State Street, discussed the need for capital markets to...
Ullink Expands MiFID II Solution Portfolio with Automated Trade Reporting
Ullink is developing a portfolio of Markets in Financial Instruments Directive II (MiFID II) products, the latest being an automated trade reporting solution designed to help firms comply with the post-trade transparency rules of the regulation. Coming soon are a post-trade data management product that will create a client order biographies necessary to record keeping...
DTCC DataPro Readies Fundamental Review of the Trading Book Solution
DTCC DataPro is planning to add Fundamental Review of the Trading Book (FRTB), expanded risk and extended exchange-traded funds (ETFs) solutions to its portfolio of data products through 2017. We caught up with Ron Jordan, managing director of Data Services at DTCC, soon after the rebranding of DTCC Data Products to DTCC DataPro to find...
Informatica Builds Out Data Governance Through Diaku Acquisition
Informatica is building out its data governance capability following the late February acquisition of UK data governance software and consulting company Diaku. The company has introduced Informatica Axon, a solution based on Diaku’s flagship Axon data governance technology and integrated the software with its Intelligent Data Platform. The integration adds data governance to data quality,...
Data Management: The CDO evolution
By: Paul Gibson, business consultant, and Nam Tran, data management specialist, Sapient Global Markets At a recent event, HSBC Group chief data officer (CDO) Peter Serenita set an interesting tone with opening remarks discussing how far the industry’s data management capabilities have come and how much further they have to go. The benchmark for this...
Why Agile Data Management is Crucial to Business Transformation
Business transformation has become a must-do for many asset managers in a market characterised by competition, regulation and digital communication, but how can asset managers achieve this, what results are they looking for, and what are the long-term benefits of business transformation based on strong data management and governance foundations? These questions and more were...
Data Management Implications of the Fundamental Review of the Trading Book
Data management for the Fundamental Review of the Trading Book (FRTB) poses problems around identification of risk factors, non-modellable risk factors, internal modelling and regulatory reporting, but solutions can be found by starting early, focussing on data requirements and working with third-party data providers. The data management challenges and opportunities of FRTB were discussed during...