About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Calyon’s Moutot Elaborates on Centralised Counterparty Database Challenge

Subscribe to our newsletter

Calyon has been engaged in a lengthy project to connect its “patchwork of IT systems” for counterparty data and has, thus far, managed to eliminate 30,000 duplicates, said Serge Moutot, the firm’s head of global referentials management. He explained to FIMA delegates that the decision to centralise and integrate counterparty data across the firm was taken following the merger of Credit Lyonnais and Credit Agricole.

“We had 65,000 records at the start and now we have 85,000 counterpart records in the new centralised system,” he told delegates. “There is now full synchronisation across the organisation with the central database and we have moved at a rate of one migration per month.”

The project has not yet been completed but the main regional hubs have been tackled, including Paris, London and New York, said Moutot. The types of data are harmonised across the central and the local systems, although certain complex elements are still managed at the level of the country. Due to the common data vocabulary, it has become easier to deal with discrepancies and processing costs have been reduced, he said.

Nearly all counterparts are now listed in the central database: “At the beginning, 30% of counterparts had a unique identifier and now 80% are covered.”

Moutot’s team was created in July and the focus for the data management project for the next year will be on migrating the Hong Kong office to the centralised golden copy data, ongoing administration and creating a “middle office” space for discussion between the back office and the front.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: ESG: A Growth Opportunity and a Regulatory Challenge

ESG investing, regulation and compliance are central concerns for financial institutions, although not all jurisdictions are equal. In the US, ESG has become a partisan issue making SEC regulation uncertain; the EU is on good form and has already implemented multiple regulations; and Asia Pacific is advancing as regulators and exchanges deploy ESG rules. Greenwashing...

BLOG

Complex Sanctions Environment Demands Powerful Screening Monitors: SIX Report

Sanctions screening technology has never been more important for financial institutions as new geopolitical and economic threats create the riskiest trading environment in recent history. That is the key finding of a new report, that highlights the need for greater resilience among organisations to the raised threat level faced by the global financial system. In...

EVENT

RegTech Summit London

Now in its 9th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2019/2020 – Seventh Edition

Welcome to A-Team Group’s best read handbook, the Regulatory Data Handbook, which is now in its seventh edition and continues to grow in terms of the number of regulations covered, the detail of each regulation and the impact that all the rules and regulations will have on data and data management at your institution. This...