Trade reporting challenges require data re-think
Data accuracy issues are hampering some firms’ regulatory reporting abilities. So why aren’t data professionals more involved? And how can compliance costs be turned into revenue drivers?
As the amount of regulation governing participants in the financial markets increases, so does the compliance burden on these firms. Many require voluminous amounts of data to report an event or transaction, with each report containing dozens of fields that must be filled out, often using data stored in different systems within a firm.
For example, when the revised Mifid II and Mifir rules came into force governing financial transactions in Europe in 2018, the number of fields in a transaction
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