New functionality for RIMES Managed Data Services (MDS) users is available through the Feed Audit service and the accompanying Feed Audit Analytics tools, providing immediate access to a chronological archive of all benchmark and reference data files ‘as-delivered’ through MDS, ensuring that any queries on the data, even those arising weeks or months later, can be quickly and efficiently analyzed and resolved.
Steve Cheng, Senior Vice President and Global Head of Data Management Solutions, explains that the new service meets both increasing regulatory demands for demonstrable data provenance and auditability while providing strong operational support for data management processes such as diagnosing data issues and also dealing with rare but potentially inconvenient events such as a failed back-up process or an unexpected system issue: “The RIMES Managed Data Services exist to take away the whole problem of data sourcing, formatting and governance. The addition of the Feed Audit and Analytics service supports best practice data governance and removes the burden on internal IT or database teams for audit-related requests, and allows them to stay focused on higher priority tasks.”
Regulatory oversight and data governance are key drivers behind the development, as data lineage and provenance continue to feature prominently in buy-side planning. Cheng said that the new Feed Audit & Analytics is part of the wider RIMES focus on governance and compliance: “Firms can now both store and source data in its original, ‘as-delivered’ state, gaining the flexibility to query, analyze and demonstrate control of that data in a timely manner. It means faster responses to internal data owners, and an additional safety net over and above any internal data backup and storage practices.”
Following initiation, the Feed Audit creates instances of every daily data file a subscriber receives from RIMES, and stores them in a cloud based repository. A chronological archive of all ‘as-delivered’ benchmark and reference data files is gradually built over time. Data can be accessed via an easy-to-use browser-based Feed Audit interface and in depth analysis of data can be carried out using a suite of powerful Feed Audit Analytics tools.
- What will Replace Libor and Eonia?
- The FCA Turns Up the Heat on Market Abuse
- Service Spotlight: New ESG Indices, A Series of Fund Launches and Seemingly Impossible Deadlines
- [INFOGRAPHIC] The Trends, Challenges & Solutions to Maintaining Market Integrity
- European Commission Adopts BMR Technical Standards