How Ready Are You For New Data Governance And Quality Controls ?

Impending regulations, following recent price manipulation investigations, will require trading firms to have new data governance and quality controls in place.

Carl Kemp, Global Head of Marketing, CJC

  • Who manages your bank’s contributions?
  • Can your competitors see your contributed data?
  • Are you paying twice for your own data? 

A new benchmark study by CJC, in association with A-Team Group, conducted among professionals within major Tier 1 and Tier 2 sell side institutions, explores the data governance demands posed by the new regulations and how the industry is responding. The study shows that:

  • MiFID II pre-trade transparency provisions are of greatest concern to respondents, followed by trade reporting under MIFIR, and risk assessments under BCBS 239 and FRTB
  • Dedicated MiFID II and FRTB implementation teams are now in place at 85% and 50% of trading firms respectively, reinforcing the high levels of awareness that work needs to be done to ensure compliance. These are typically cross-functional teams, some more evolved than others, including banking, markets, tax, finance, law, compliance and technology.
  • The top three perceived benefits from verified/accurate data are: regulatory compliance and better capital adequacy provision (92%); minimising exceptions (66%); and minimising reputational risk. 

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  • Article
  • MiFID II
  • Regulation