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Smart Machines: A $10 Trillion Capacity Windfall or a $10 Trillion Jobs Deficit?
By Adam Devine, VP Product Marketing, WorkFusion Predictable, monotonous data work costs the United States, Canada and Europe over $10 trillion of human intelligence each year, and that number is growing. You know the kind of work: a data analyst sitting in front of two screens, one flashing an endless stream of unstructured content, the…
The Challenges and Opportunities of Smart Data Governance Strategies
The development of data governance strategies is being driven by regulation, but a smart strategy can deliver far more than regulatory compliance and give financial firms the ability to improve their customer relationships and increase profitability. With data governance at the top of the agenda at many banks, its challenges and opportunities will be discussed…
Interactive Data to be Acquired by Intercontinental Exchange for $5.2 billion
After much debate about the future of data vendor Interactive Data, it has emerged that Intercontinental Exchange has bought the company from its private equity backers for $5.2 billion. The backers Silver Lake and Warburg Pincus originally purchased the company for $3.4 billion in 2010. The deal ends over a year of speculation about when…
Finding a Balance Between Standards and Flexibility in Data Architecture
The integration of standards and flexibility into data architecture is an ongoing challenge for financial firms that must not only improve operational efficiency, but also sustain adaptability to support business and regulatory change. Both are important, but potentially opposed to each other, begging the question of how best to find an optimal balance between standards…
MarkLogic and ModelDR Propose a BCBS 239 Compliance Solution Based on Data Point Modelling
MarkLogic and ModelDR are challenging traditional approaches to BCBS 239 compliance with a solution that combines MarkLogic’s non-relational, multiple model database platform and ModelDR’s data point modelling software. The companies detailed their approach in a recent webinar, Sustained Compliance with BCBS 239, and said banks implementing the solution could lower costs, increase agility and ensure…
Thomson Reuters Eases Burden of Regulatory Shareholding Disclosures
Thomson Reuters has added significant shareholder and beneficial ownership data to its DataScope Select reference data platform in support of asset managers that must comply with regulations covering the disclosure of holdings in sensitive industries and holdings that exceed a percentage threshold of the outstanding capital of a company. The global regulations covering these disclosures…
Markit Aims to Improve Third-Party Risk Management with KY3P Platform
Markit has introduced a utility-type service designed to help banks – and other large organisations – improve their operational risk management around third-party products and services. Called Know Your Third Party (KY3P), the service allows third-party vendors to upload and update information about their businesses once, and permission many banks to access the information as…
Questions Remain About Using ISINs as Instrument Identifiers for MiFID II and MiFIR
By Chris Pickles, Co-Chair of FIX Trading Community’s Reference Data Subgroup and Member of the Bloomberg Open Symbology Team The work of the Reference Data Subgroup of the FIX Trading Community starts again this week after the hiatus of waiting for the final recommendations of ESMA regarding Technical Specifications for MiFID II/MiFIR compliance. As these…
Philippe Chambadal Details Development of the SmartStream Reference Data Utility
After the long-awaited public announcement of the SmartStream Reference Data Utility – or SPReD, the Securities Product Reference Data utility – earlier this week, A-Team caught up with SmartStream CEO Philippe Chambadal to find out more about the utility and its ongoing development. The utility is owned jointly by SmartStream, Goldman Sachs, JPMorgan Chase and…
Global LEI Foundation Swings into Action After Taking Operational Control of the Global LEI System
The Global Legal Entity Identifier Foundation (GLEIF) has become the central operating unit of the Global LEI System (GLEIS), ending the interim system overseen and coordinated by the Regulatory Oversight Committee (ROC) of the LEI and setting in motion activities including an accreditation process for pre-Local Operating Units (LOUs), a quality management programme, and expansion…