Security master data is a foundational data set upon which other critical data classes are built, enabling investment processes from front-office decision support and trading, through to mid-office analytics and back-office accounting and settlement.
Steeply growing data management costs drive buy-side organizations to either adopt ad hoc solutions that are not sustainable in longer term or embark on enterprise data management projects where deployment often lags behind developing business needs and with no guarantee of success.
RIMES, a leader in benchmark data management, has published a white paper providing buy-side organizations with recommendations for more effective security master data management – as rising costs, onerous regulatory requirements and volatile market conditions drive the need for robust and effective data management solutions.
Buy-side organizations are increasingly turning their attention to security master data management, a foundational data set underlying all of the firm’s investment processes, supporting front, back and middle office activity.
RIMES reports that many firms struggle to find a sustainable data management solution for security master data due to the unique requirements of the buy-side. The urgent nature of the problem often requires immediate action, sending companies looking for quick fixes that could lead to inefficiencies over time.
Steve Cheng, Global Head of Data Management Solutions at RIMES, comments: “Market conditions are putting a lot of pressure on the buy-side as they are faced with more complex instruments, growing client demands, new regulations and global operational risk. This drives up data costs while profit margins are being reduced, creating a situation where managers are required to do more with less.”
“Combating this problem requires a fresh approach to achieve a lasting, cost-effective solution. Often, a managed data service from a specialist vendor can help to reduce the budget allocated to data management while providing a fully managed service with expert insight that can help the organization focus on their core responsibilities.“
- Navigating Fixed Income Analytics in a POINTless World
- MAR Update – Regulatory Oversight is on the Rise
- Ensuring Regulatory Compliance Includes Detecting Questionable Order Activity
- Ask the Expert: FIGI I.D. Mapping Across Multiple Asset Classes
- More Time Required Before Phasing Out of Key Reference Rates