Making Sense of the Past to Provide Data Services for the Future

High-quality and complete historical data is essential to financial sector firms. For institutional investors, it provides a rich source of signals for insights, analytics and quantitative teams. It’s also increasingly necessary for firms to be able to access and report on historical data for regulatory compliance purposes.

However, digging into the past is not always an easy process when it comes to broad market data sets used by financial sector firms. The benchmark ecosystem, in particular is in a state of continual flux. Index and benchmark ownerships change, as do the methodologies used to calculate them and the file formats used to provide them to market participants. Data available in a single benchmark or index today may well have spread over several sources a few years ago.

In practice, this means that firms’ historical data is often a patchwork or formats, spread over various systems and of varying quality levels. This leaves organisations, especially those without Chief Data Officers, with an expectation that the historical data is there, of the requisite quality level, and that the licenses associated with the data are unconstrained.

As Andrew Barnett, Global Head of Product Strategy at RIMES, points out: “The task facing firms is huge. They need to go back through what can be ten or more years of market data and licenses from a variety of sources and quality assure, validate and standardize the lot to make it ready for analysis. Few firms have the resources to take on such a huge job.

“At RIMES, we provide an elastic approach to managed data services that can extend to cover decades’ worth of historical data. Thanks to our flexible systems, extensive partnerships with data vendors and unrivalled data expertise, we can validate, reconstruct and quality assure data for our clients, providing it to them in a feed ready format so they can get on with performance and attribution use cases. It’s what RIMES does best: hiding complexity and market volatility from our clients so they can concentrate on their core business activities.”

Recently, RIMES helped a large pension fund cleanse and standardize 10 years’ worth of historical data in just a few months. The project saw several terabytes of data collected and processed before being delivered to the client through a dedicated architecture. Read more here

RIMES Managed Data Services is a proven data operating platform that helps firms of all sizes and in all regions align their data consumption closely with business needs and react to unforeseen data events. Contact us to learn more.

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