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The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

What do you think of the reference data services out there?

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After a refreshing couple of weeks on a European break, we’re back in the full swing of things. And boy, are things swinging! As well as producing our fine publications, A-Team has embarked on a commissioned survey to understand what reference data managers really think about the information services out there, and how various firms are approaching data management.

What do you really think of the quality and cost of reference data sources; is there cooperation between the front and back office when it comes to data, do you think there are benefits to be had from a high level of cooperation; how advanced is the industry in centralizing data management to support enterprise applications, etc., etc. Many of you may have heard from us already and we’d like to extend a big thanks to all who have already spared some time to help us on this quest. To those of you that haven’t yet: check out our online survey at http://www.surveymonkey.com/s.asp?u=60061621541 or get in touch with us – ask for Angela at +44 (0)20 8691 6194. This is your chance to contribute to an industry-wide survey of real user attitudes to reference data services. The results will of course be kept strictly confidential (no names mentioned) as we understand how sensitive some of the issues can be. The results will only be shared using aggregate responses without identifying individual participants in any way. Of course, we don’t expect you to do this for nothing: as a sign of our appreciation, we’re making sure all participants receive an advance copy of our findings in our upcoming report (due in mid-October – just in time for Sibos). What better way to find out what your peers are up to and to benchmark your responses against the rest of the industry. So, what are you waiting for? We’ve found the responses fascinating so far. One of the themes emerging ties in with themes running through this issue of Reference Data Review: how regulatory requirements are driving many data initiatives. In our lead story, David Paris details the approach Deutsche Bank has taken to ensure compliance with Know Your Client requirements – an approach that has resulted in wider operational benefits than just compliance. Paris spoke at a Cicada breakfast event in London a couple of weeks ago that focused solely on the importance of data to KYC requirements – a subject close to their heart. A former Cicadian, Ken Price, has also recognized the need for quality data about financial institutions’ counterparts and clients by pulling together and comparing counterparty data from a number of industry participants and giving them feedback on the quality of their data. Particularly useful for risk management functions. And in a contributed article from Telekurs Financial’s Urs Bischoff, the Basel II accord which has major implications for data quality, is examined.

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