A new Enterprise Data Management (EDM) Council has been established by over 20 representatives from corporate and investment banks, asset management companies, and competing industry vendors. The development has been led by GoldenSource, SunGard and IBM. The aim is to use the council as a forum to discuss the best practices for standardising and integrating reference and transaction data covering five categories: securities, customers, counterparties, transactions and positions, upon which compliance with regulatory requirements is heavily dependent. Dale Richards, president of enterprise data management at SunGard says that the agenda, and how any adoption of best practices might work have yet to be defined. But ideas such as creating a data management certification program have been discussed. The council is being differentiated from SunGard’s advisory board (RDR, Nov 2004), which is focused on managed or outsourced data services offerings, and RDUG or FISD’s efforts by its focus on actual vendor solutions. The first real meeting, following the confirmation of the agenda and members, is expected for October.
A-Team Insight Blogs
Enterprise Data Management Council Established
Rising volumes and increasing complexity of corporate actions are challenging market participants’ efforts to reconcile data, automate corporate actions processing, and contain costs. The culprits causing these challenges include legacy systems, missing skills, manual processes, data quality issues, and a lack of standardisation. Added to these is the increasing complexity of corporate actions such as...
QSuper, one of Australia’s largest superannuation funds, has selected Matrix IDM’s data management product to provide a fully integrated solution across security, pricing, positions, accounts, risk, performance, and corporate actions data. The fund was looking for an off-the-shelf data warehouse to support a data strategy project that would create a vendor and custodian agnostic data...
This summit will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.
This year has truly been a year of change for the data management community. Regulators and industry participants alike have been keenly focused on the importance of data with regards to compliance and risk management considerations. The UK Financial Services Authority’s fining of Barclays for transaction reporting failures as a result of inconsistent underlying reference...