Solving the Puzzle

The Tower Group's recent reports on reference data cited a higher priority for reference data projects and progress in outsourcing reference data activities. This was taken as an optimistic sign that financial enterprises were tackling the reference data and data management problem.

Then, on May 22, the Group of Thirty's Global Clearing & Settlement Committee released its Final Monitoring Report. This summarized the industry's progress less optimistically: "The implementation of reference

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