Compatible Messaging Standards Are Key To Brazil’s Emergence
Strapline: Golden Copy

The opportunities that emerging markets typically offer, especially when established and mature markets aren't doing so well, aren't always as great as they might seem at first glance. Recently, Inside Reference Data reported on the scarcity of evaluated price information in emerging markets, which is an obstacle to getting accurate and fast pricing data. An evaluated pricing professional observed that in any new market, information is generally going to be scarce. Developing markets aren't able to match the timeliness of data delivery seen in developed markets.
Therefore, firms doing business in the developing markets have to spend to support their front offices' abilities to get timely data sources. The key to spending wisely toward that goal, however, means taking a wider view of what areas within a firm are keys to achieving faster data, including personnel, infrastructure and operational professionalism.
Add to this the other hurdles for data management in emerging markets, particularly proprietary standards – specific to a single country's markets. The Brazilian markets are a good example of this. Brazil has in some ways graduated out of emerging market status, achieving greater transparency and attracting data providers and services both large and small. These outside providers face competition from established local providers who have an advantage of being better suited to their home turf. The outside providers' infrastructure can be too far ahead of what Brazilian systems can accommodate.
Having such incompatible standards seems counter-intuitive when organizations such as Swift are trying to make data and messaging standards compatible and consistent worldwide. The industry co-operative is making inroads in working with the relevant parties in that country. "We have to be able to go after local markets and ask what we can do to help the industry with transaction flow to Latin American markets or make it more consistent and standardized around the world," says Eileen Dignen, managing director, banking accounts and initiatives, at Swift.
The outside data providers in an emerging market such as Brazil will have a harder time focusing their investment on improving the quality and speed of data if proprietary standards remain the only game in town. Addressing this issue is a necessary step for a market that is trying to shed its "emerging" label.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Data Management
Demand for private markets data turns users into providers
Buy-side firms seeking standardized, user-friendly datasets are turning toward a new section of the alternatives market to get their fix—each other.
LSEG-AWS extend partnership, Deutsche Bank’s AI plans, GenAI (and regular AI) concerns, and more
The Waters Cooler: Nasdaq and MTFs bicker about data fees, Craig Donohue to take the reins at Cboe, and Clearwater closes its Beacon deal, in this week’s news roundup.
From server farms to actual farms, ‘reuse and recycle’ is a winning strategy
The IMD Wrap: Max looks at the innovative ways that capital markets are applying the principles of “reduce, reuse, and recycle” to promote efficiency and keep datacenters running.
Study: RAG-based LLMs less safe than non-RAG
Researchers at Bloomberg have found that retrieval-augmented generation is not as safe as once thought. As a result, they put forward a new taxonomy to help firms mitigate AI risk.
Friendly fire? Nasdaq squeezes MTF competitors with steep fee increase
The stock exchange almost tripled the prices of some datasets for multilateral trading facilities, with sources saying the move is the latest effort by exchanges to offset declining trading revenues.
Waters Wavelength Ep. 314: Capco’s Bertie Haskins
Bertie Haskins, executive director and head of data for Apac and Middle East at Capco, joins to discuss the challenges of commercializing data.
Nasdaq, AWS offer cloud exchange in a box for regional venues
The companies will leverage the experience gained from their relationship to provide an expanded range of services, including cloud and AI capabilities, to other market operators.
Bank of America reduces, reuses, and recycles tech for markets division
Voice of the CTO: When it comes to the old build, buy, or borrow debate, Ashok Krishnan and his team are increasingly leaning into repurposing tech that is tried and true.