These are challenging times for trading firms, who need to plan for upcoming regulatory changes, drive growth today and position for success in the future. One of the ways to achieve these objectives is to focus on data management. In this post, guest blogger Paul Obrocki, Accenture’s Global Data Management lead for Capital Markets, talks about the importance of implementing a data management strategy throughout the enterprise.
What are special considerations that trading firms should consider when developing a data management strategy?
Firms that are involved in heavy trading need to consider their service level agreements (SLAs), especially where new issue set-ups and data correction is concerned.
What’s the best approach to managing data in trading firms?
I think the best approach is for trading firms to implement a way to prioritize, so that trading-related data can be processed quickly.
When it comes to data management, what mistakes do trading firms make?
A common mistake is to build a system that supports high performance in trading, but not the rest of the enterprise. This results in redundant systems and creates extra work to satisfy compliance or risk.
How are trading firms preparing for upcoming regulations?
There’s a lack of clarity in the upcoming regulations, so most firms are focusing on core technologies that will enable them to adapt to regulatory changes.
What are trends that will affect data management?
There are two trends that will affect trading firms’ data management efforts:
- Increasing volume in securities.
- Expansion into foreign markets, where data quality can be poor.
Do you have questions about data management strategy for trading firms?