Data management - a new challenge for the financial system

Data plays a critical role in today’s financial system and its amount being handled, manipulated and acted on by financial markets participants has grown exponentially in recent years. If markets are to remain stable and trusted, fair and effective, then the rapid growth of new technology and of data science must be balanced with ever more effective governance and control.

The new review published by FICC Markets Standards Board (FMSB) examines the role that data and the management of data play in today’s wholesale fixed income, currencies and commodities (FICC) markets and financial systems.

This article provides further insight on the areas to focus on for effective data governance and standardisation.