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: MiFID II and FRTB Data Analytics, Benchmarks and Risk Modelling

Markets in Financial Instruments Directive II (MiFID II) and the Fundamental Review of the Trading Book (FRTB) require huge volumes of data to be sourced and managed. This webinar will discuss what sort of data analytics you need to implement to be able to process and analyse MiFID II data, and what risk model data,...

BLOG

The Case Against Ripping and Replacing: Why Capital Markets Firms Should Build Intelligence Into What They Already Have

By Neil Vernon, Chief Product Officer, Gresham. For years, capital markets firms have faced the same challenge: modernising sprawling, legacy data systems. Each attempt follows a familiar pattern – ambitious platform overhauls, eight-figure budgets, years of disruption – yet the old systems often remain in use long after the new ones are live. Replacing systems...

EVENT

AI in Capital Markets Summit London

Now in its 3rd year, the AI in Capital Markets Summit returns with a focus on the practicalities of onboarding AI enterprise wide for business value creation. Whilst AI offers huge potential to revolutionise capital markets operations many are struggling to move beyond pilot phase to generate substantial value from AI.

GUIDE

RegTech Suppliers Guide 2020/2021

Welcome to the second edition of A-Team Group’s RegTech Suppliers Guide, an essential aid for financial institutions sourcing innovative solutions to improve their regulatory response, and a showcase for encumbent and new RegTech vendors with offerings designed to match market demand. Available free of charge and based on an industry-wide survey, the guide provides a...