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Complex Client Structures and Fragmented Systems Landscapes Large organisations often resort to managing their client data not as a strategic imperative, but rather as a function of projects that are conceived to solve a specific challenge. There are common organizational and data management challenges faced by large organisations with projects involving client data irrespective of the drivers for change. There are also a number of key considerations, which are relevant for business and technology project stakeholders at all levels and disciplines. Factors that define the environment in which practitioners operate on client/entity data related projects include the maturity of the existing client data architecture, the enterprise data governance & entity data management strategy, and the specific project / programme drivers. Regardless of these factors, there are 5 key considerations for project practitioners that should help them to steer the project towards success, ensuring that the resultant outcomes are sustainable in their own right, as well as providing a stable foundation for future improvements:

Written by Haider Mannan, Senior Sales Director

The data systems currently serving firms are no longer able to meet the needs of the future regulatory state. As a result, this year will be marked by the emergence of new operating models, largely under pressure from regulatory requirements.


In order to have the right data, any capital firm will need data feeds from multiple vendors. According to a recent FIMA report 28% of capital markets businesses expect the number and complexity of new data feeds to challenge the scalability and flexibility of their systems within the next 2 years. Hear from Stuart Smith, VP Client Operations EMEA & APAC at GoldenSource, who discusses the key to managing the end to end data processes that support the main drivers of data growth identified in the FIMA report, namely complying with regulations (35%) and taking on new areas of business (27%).


Banks are looking at a multitude of options in order to increase efficiency and profitability. To this end, shared utilities come up a lot in conversation as a potential solution.

By Prashant Kumar - Senior Vice President of Business Development

The Challenge

Data is in the limelight. The challenge is not just about clean data around settlements and clearing, to resolve out trades. There's ever increasing regulatory reporting too, and greater demands for insightful data for all areas of the business. Reports for regulators have to be immaculate. The scrutiny is high, the consequences are serious.


Prudent Valuation

The European Union's Capital Requirements Regulation - CRR defined under Regulation No 575/2013 - defines the requirements relating to prudent valuation (PRUVAL) adjustments of banks' fair-valued positions. The purpose of the regulation is to mandate banks to set capital aside for the "uncertainty" of valuations that are inherent in the mark-to-market and mark-to-model approaches used by trading institutions.

Regulation becomes law

The regulation became law in Q1, 2016. Banks are now expected to comply with the Regulatory Technical Standard (RTS) that the EBA published on the back of the regulation. But the bank of England thinks the industry is not up to standard yet.


As the EMIR mandatory clearing of interest rate swaps kicks in for Europe's biggest firms), Neill Vanlint of , GoldenSource and Nick Newport of InteDelta explore the operational challenges facing CCPs and argue that an industrial revolution is called for to prevent operational risk seeping into the system.

The CCP Landscape

The CCP landscape is at an inflection point. Although it's evolved hugely over the six short years since its establishment, the industry will see a major shift in requirements over the next 6-18 months. EMIR's mandatory clearing of interest rate swaps is the latest of many deadlines coming thick and fast after a series of delays, and as a result, volumes are set to increase dramatically in the coming months. That will bring challenge, but also opportunity for those who are well-positioned to take advantage of it. What has, to date, been something of a cottage industry is set for an industrial revolution.


Stemming the rising tide of data costs

When financial data practitioners get together, the conversation ultimately turns to the struggle for power in a fight against the rising cost of data. This held true during a recent Financial Information Services Association event in Sydney where practitioners voiced concerns that the industry continues to lose control over the shifting costs within their data contracts.

Data increasingly underpins critical functions for financial services companies that are looking for efficient growth amid increased regulatory demands. The same data that previously could be accessed for free is now appearing in contracts as a cost, and practitioners say they’re losing more control of contracts as vendors squeeze out any freebies.


A real example of the decision to either buy your EDM solution, or build it in-house

Written by Prashant Kumar - Senior Vice President of Business Development

I was talking to a CIO of a high yielding Hedge Fund recently. He described a need in his org around classical security master features along with reporting and position aggregating needs which were "data warehouseish" in nature. I consider him to be a tech guru and he has a strong track record of delivering on time. He queried whether he can just build this himself?

I was able to tell him with confidence that even with the right balance of domain IP and development resources, it will take 2-3 years to get a first stable cut out. Even longer if it's meant to be truly multi-domain (i.e. Products, positions, customers, counterparties with the hardest part being modeling the links between these). You simply can't just throw bodies at this.

He asked how I arrived at this number. Well, we've been doing this for 30 years. Here's the thought process I described:


And in some cases, way too much

Stop Lights - Doing More

The term EDM has long stood for Enterprise Data Management, and now it would seem that, in this same vein, Everyone's Doing More.

The industry hit a pivotal moment following the financial crisis: It quickly realized there was a greater need for regulation and control of assets.

These combined to spawn an explosion of reporting mandates and the need to respond to new opportunities faster and more cost efficiently, but with a granular view of exposure and risk.


As global FX volumes rise, Dev Bhudia of GoldenSource explains why certain asset managers and hedge funds are seeking alternative ways to manage pricing risk

From the EU extending sanctions on Russia to China devaluing the Yuan, there is no shortage of events affecting a fund manager’s investment strategy. But in the midst of such volatility, the priority for any fund manager remains the same: deliver absolute returns in an increasingly competitive, intricate and highly regulated market.


04 June 2015

Five years on from FATCA's inception, Dev Bhudia of GoldenSource argues that in order to realise new revenue streams from customer data, financial institutions can no longer afford to view regulations in isolation.

They say birthdays are the perfect time to reflect and for many banks, the fifth anniversary of FATCA is no exception. It seems hard to fathom now, but when it first came into force FATCA was something of a "known unknown". If successful, banks could bet their bottom dollar other countries would follow with a similar law to crackdown on tax avoidance. However in the beginning many were left scratching their heads, wondering how many clients domiciled outside the U.S. had reporting obligations.


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