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

FPL and FISD Sign Agreement to Work Together on Data Standards

Subscribe to our newsletter

FIX Protocol Limited (FPL) and the Software and Information Industry Association’s (SIIA) Financial Information Services Division (FISD) have signed an agreement to work together on improving the interoperability of data standards and increasing the industry’s adoption of STP. The statement of understanding formalises the relationship between the two non-profit organisations that has been ongoing for some time and paves the way for them to collaborate on reference and market data industry best practices.

FPL, which owns the intellectual property rights of the Financial Information eXchange Protocol (FIX), indicates it will work with the securities industry focused FISD to improve operational transparency, integration and interoperability between market participants and regulators.

Jim Northey, co-chair of the FPL Americas Regional Committee and its industry standards liaison, reckons the formalisation of the agreement will facilitate even greater collaboration: “The result of which will be of significant benefit to all industry participants in the area of reference data standards and transparency.”

Bill Nichols, FISD programme director for securities automation processing, claims that the fact that the barriers are breaking down between market and reference data will spur on collaboration between the two. “FISD and FPL are uniquely positioned to provide our members with a venue within which to cover all aspects of the landscape, from legal issues to down and dirty technical details,” he adds.

FPL has agreed to actively contribute to the FISD Data Model Working Group, which was recently formed to consolidate and extend existing instrument data models into a framework that addresses the business issues exposed by the current credit crisis. These issues include the intermittent and inconsistent reconciliation of business and technical practices across merged and acquired platforms, and the relationship between streaming trade data and reference/proprietary information stored in multiple relational databases, says FISD.

Similarly, FISD has also recently agreed to collaborate with JWG-IT with a view to increasing the value of the activities of its risk and regulation and data model working groups.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: The challenges and potential of data marketplaces

Data is the lifeblood of capital markets. It is also a valuable commodity providing financial institutions with additional insight when gathered in an internal data marketplace, or packaged and sold externally to other institutions. While the theory is sound, the practice of setting up a data marketplace can be challenging. Internally, vast amounts of data...

BLOG

DTCC Automates Voluntary Corporate Actions Lifecycle

The Depository Trust & Clearing Corporation (DTCC) has made a further move to fully automate the corporate actions lifecycle with the processing of the US market’s first automated voluntary reorganisation ISO 20022 instruction. The process was carried out by DTCC subsidiary The Deposit Trust Company (DTC) using its newly automated voluntary reorganisation service, which is...

EVENT

Data Management Summit New York City

Now in its 12th year, the Data Management Summit (DMS) in New York brings together the North American, capital markets enterprise data management community, to explore the evolution of data strategy and how to leverage data to drive compliance and business insight.

GUIDE

ESG Data Handbook 2022

The ESG landscape is changing faster than anyone could have imagined even five years ago. With tens of trillions of dollars expected to have been committed to sustainable assets by the end of the decade, it’s never been more important for financial institutions of all sizes to stay abreast of changes in the ESG data...