Tackling issues of reference data.

Financial News, October, 2002

Byline: Richard Greensted

Every year, millions of trades are struck. Most settle on time, the rest do not. Every year, consultants and software vendors warn the industry of the dire consequences if new settlement solutions are not implemented. These have included T 1, a European central counterparty, same-day trade affirmation, centralised European mutual funds processing and standardised securities numbering, to name but a few. Yet, despite the repeated threat of impending seizure, the securities clearing and settlement infrastructure continues to function. As the old Arab proverb wisely says: "The dogs bark, but the caravan moves on".The latest dogs to bark are those with a vested interest in reference data. If this elicits a feeling of deja vu, that is...

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