2015 Forecast: Data Management Improvements Will Be Slow
Adoption of new systems, upgrades and responses to regulatory drivers factor into likely measured response
As 2014 drew to a close, Inside Reference Data took some time to ask respected data management operations executives, both at financial firms and the service providers who work with those firms, what they see as the likely trends for this new year.
Several of our interviewees cited BCBS 239, the European risk data aggregation guidelines that require regular stress tests in which financial firms determine if their capital reserves can pass muster in a crisis (the US equivalent is CCAR, the Comprehensive Capital Analysis and Review procedures).
Overall, those responding described ways that incremental changes in data management are more likely to occur in 2015.
ANZ Institutional Bank's Mark Bands, responding to our question about what new technology will make a mark on reference data operations, said the focus will be on maturing existing capabilities to reach their full potential. BNP Paribas' Vincent Benita said the realization of the value of data, more than any technology, will change the reference data landscape. By that, he meant firms having greater appreciation of the licensing potential of their data. Thomson Reuters' Tim Lind also pointed to maturing of data management infrastructure, as opposed to "breakthrough innovations." And Rimes Technologies' Steve Cheng takes this further, stating that no specific new technology will affect reference data in 2015.
That doesn't necessarily mean nothing of any interest will happen. Making data management technology more mature and more capable requires work to integrate data sources, devise data strategies and update and enhance data systems.
Could application programming interfaces (APIs) be the smartest or most effective option, given the need to improve the sophistication of data management systems, adding and upgrading their capabilities? Eagle Investment Systems' Paul McInnis said he sees more usage of APIs happening. Or will cloud-based services prove more popular, as GoldenSource's John Eley said; or big data technology, as BNP Paribas' Vincent Benita noted? Cloud resources could be smoother at the task of obtaining all available data, including unstructured data and social sentiment data that Eley and Lind cited as important.
The bottom line in all of this could be managing expectations, whether it's those of regulators, as HSBC's Chris Johnson said, or data consumers' expectations for what systems and services can accomplish. While the past year has seen considerable progress, particularly with legal entity identifiers and elevating data issues to the boardroom level, as those who responded to our trend questions did attest, 2015 is likely to be dominated by figuring out the nuts and bolts of data operations that need to change to carry out grander plans.
The series of interviews began appearing December 17 and will continue daily through the end of this year. Inside Reference Data wishes our readers a happy holidays and new year. This column will return in 2015.
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.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
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. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Data Management
Symphony boosts Cloud9 voice offerings with AI
The messaging and collaboration platform builds on Cloud9’s capabilities as it embraces the AI wave in what CEO Brad Levy calls “incremental” steps.
MSCI counts the cost of bank M&A, looks ahead to custom indexes, AI
Cancellations of overlapping contracts following a bank merger put a dent in MSCI’s earnings, but management remains upbeat about the potential of recent acquisitions and new technology developments.
Nasdaq reshuffles tech divisions post-Adenza
Adenza is now fully integrated into the exchange operator’s ecosystem, bringing opportunities for new business and a fresh perspective on how fintech fits into its strategy.
This Week: HKEx's new derivatives platform; GoldenSource; Quonian-SimCorp, and more
A summary of some of the latest financial technology news.
Chris Edmonds takes the reins at ICE Fixed Income and Data Services
Edmonds is now leading ICE’s fixed income and data business as the rush to provide better data and analytics in fixed income builds.
Deutsche Börse democratizes data with Marketplace offering
Deutsche Börse Group is set to unveil its Marketplace, a one-stop data shop designed to simplify and streamline data acquisition and consumption for its clients, while also surfacing data from across the firm to its own users. Jan Stiebing and Sven…
DSB says industry is ready to meet UPI mandate ahead of deadline
The Unique Product Identifier will be required for certain OTC derivatives in the EU at the end of April, following US adoption in January.
Mapping a successful data journey: strategy, execution and sustainability
A well-planned data journey can positively impact an organization’s long-term trajectory. However, it is important to have clarity not only in the strategy but also in successful execution and sustainability for the long haul, argues data veteran Subbiah Subramanian.
Most read
- Chris Edmonds takes the reins at ICE Fixed Income and Data Services
- Deutsche Börse democratizes data with Marketplace offering
- Waters Wavelength Podcast: Broadridge’s Joseph Lo on GPTs