On May 26th, buy-side traders, technologists and operations professionals came together for this year’s Asia Pacific Buy-Side Technology Summit to discuss the major trends affecting the buy-side; including regulations, trading strategies and new technologies. Attended by over 100 professionals from the investment management community, the event provided the perfect opportunity for attendees to debate everything from MiFiD II and the EU Benchmarks Regulation through to data governance best practices.
Brendan Beith, RIMES’ Global Head of Sales, attended the event and took part in a panel discussion titled ‘Establishing a Strong Data Governance Framework’. Brendan was joined by a panel of industry experts, led by Gordon Brown, Managing Partner at Stradegi and including Rob Scott, Head of International Operations and Head of Operations and Technology, Asia ex-Japan at Nikko Asset Management; Jamie Vachon, Head of Information Technology at Eastspring Investments; and Bhaskar Katta, Regional COO at ANZ.
During a lively and informative discussion, the panel agreed that there are two key drivers behind the need for new data governance frameworks and technologies within the buy-side: first, the emergence of regulations in Europe, such as the EU Benchmarks Regulation, which will impact all global firms that trade within the EU; and second, ensuring compliance with data partner licencing.
Brendan noted that when establishing a data governance framework, buy-side firms face a particular challenge around distinguishing the scope of coverage. Data has an impact right across an organization’s operations, so firms might struggle to understand in which functional areas governance must take precedence. For buy-side firms, the ability to clearly define the scope of data governance will be critical to success, but few firms have any experience of such scoping exercises.
This is where managed data service providers such as RIMES can add value. Managed services providers have the experience and capabilities needed to ensure compliance across the entirety of a firms’ operations. By working with the right managed service provider, buy-side firms can take the pain out of compliance and ensure they are ready for the challenges of emerging regulations. As the scale of the impact new regulations will have on the buy-side becomes clear, the case for taking managed data services is becoming increasingly strong.
These topics, and particularly the incoming EU Benchmark Regulation, will also be discussed at RIMES’ regulatory seminar in London on June 9th. Please click here to view the agenda and to register.