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The Data Forum
There has never been a greater challenge for Capital Markets firms than managing reference data. Decades of well intentioned committees spanning the markets have tried to introduce measures to improve data quality. Improvements have been made, new technologies have been introduced. Yet firms are still blighted with high costs, complexity in managing and accessing the data, and maintaining the quality and relevance. The Capital Markets are suffering from a spiraling data overload. The overlap with payments and FX, which will result due to real-time processing requirements for international investors, make it critical to arrive at a solution to the reference data problem.

The ISITC Europe Data Forum, will aim to pull together all the work done by the many data experts, to come to a understanding of issues and prioritize where firms need to concentrate resources and budget. By assembling a cross-market group of all the key players from sell-side, buy-side and infrastructure organizations, in a concerted effort to move the data problem dial forward and derive a road map for solving the industry reference data problems on an international scale. The goal will be to produce a European Reference Data Accord.

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Data Forum Chair

Richard Young
Richard Young

Richard joined Bloomberg in September 2015 in an industry and regulatory relations role in Global Data.  This role includes advocacy for Bloomberg’s Open Symbology initiatives, covering instrument and entity identifiers.  Richard also undertakes industry and regulatory outreach on the data aspects of Bloomberg’s services related to regulatory driven initiatives.

Prior to joining Bloomberg, Richard spent 20 years with the financial messaging and standards body – SWIFT, where he held a variety of roles in sales and marketing.  He led initiatives with EU and other regulators to raise awareness of the operational impacts of regulation, including strengthening the regulatory recognition of financial messaging and reference data standards.  This involved a particular focus on the promotion of the ISO 20022 financial messaging standard to EU regulatory bodies. Pre SWIFT Richard held product management roles with a leading global custodian for four years, and before that with the London Stock Exchange.

Data Forum DIscussion Points

Some typical areas of discussion are likely to include:

General challenges of managing Reference Data

  1. Maintaining a central data library
  2. Organisational /strategic change
  • Curation
  1. Managing impact on operational risk
  2. do we have the standards we need

Topical Reference Data challenges

  1. New Asset types – crypto and digital
  2. Current Regulatory reporting challenges
  3. OTC derivatives challenges

Related Content

  • Data Challenges
  • Data Challenges
  • Solving the problem of reference data webinar recording

Next Data Forum DIscussion

Cross Market Roundtable Discussion kindly hosted by Collabera Digital

Date: Wednesday 6th December 2023 (Postponed until January due to train strikes) Date TBC

Time: 4.00 – 5.30pm followed by networking drinks

Location: 70 Mark Lane, London, EC3R 7NQ

Agenda

  • Agree mission statement
  • Agree and prioritize reference data issues
  • Agree what an international reference data solution would look like
  • Set future  meeting data

Data Forum Member Involvement

The Data Forum invites participation and discussion between members and invited guests who have an interest in Market and Reference Data. The forum will aim to deliver education, communication, and information for the advancement the International Capital Markets.

If you are not a member of ISITC EUROPE you are welcome to apply for membership.

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