Today’s increasing regulatory requirements are reshaping the 帖子-trade world. 技术如何跟上法规的步伐?有哪些解决方案? Matthew Johnson, 存 ITP Product Management & 行业关系, 最近在证券借贷技术研讨会上与行业合作伙伴就监管科技问题进行了讨论.
提供数据
通过技术或regtech管理金融行业的监管流程，公司可以找到包括监管监控在内的解决方案, reporting and compliance. 小组讨论了《vns6060威尼斯城官网》(SFTR)和《vnsr威尼斯城官网登入》(CSDR)如何要求公司加强其数据和提高证券融资市场的透明度.
Speaking about the delivery and quality of data, 约翰逊说, “SFTR已经成为一种变革催化剂，带来了更强大的控制环境.“这些规定促使证券金融市场的参考数据和数据仓库大幅增加. 法规带来的额外标准化将导致数据一致性和更好的数据质量，从而改进贸易处理, as well as investment opportunities. Multiple benefits exist to enhance business intelligence, including cost trade analysis and improved transparency, while providing control benefits to existing affirmation, reconciliation and risk mitigation processes.
为满足加强的监管要求而进行的技术发展已经相当显著，并产生了丰富和更高质量的数据. With this enhanced data, 公司现在需要提高对账和前期数据比较的效率，以最终降低成本. And while the regulation is for the Euro region, 为贸易报告采购各种信息将对利用跨多个司法管辖区数据的全球企业产生巨大影响.
Improving Efficiencies
在实时的基础上使用stfr类型的数据可以在整个范围内提供好处，并允许数据被重用以更好地丰富, reconciliations and data insights. 这包括添加一个操作流程，以改进其他遗留业务或监管用途的入职和发布数据.
The operation process has changed due to SFTR. Through standardization, lifecycle trade effects, 比如新书, rate changes and dividend changes, are now picked up and reported correctly. This has helped front-office behaviors, 改进了对系统的关注，因为数据是时间戳的，并及时正确地更新.
“改进的数据流可以使公司进一步分析报告和分析使用的数据，然后最终通过提出重新分配或替代来优化成本和提高业务效率."
Minimizing Manual Processes
While data has been improved, manual touchpoints and adjustments remain a significant cause of errors. 最近的一项交易分析显示，交易失败的最大领域是交易终止和调整的结果, and not in the initial trade. 例如, 缺少唯一事务标识符(UTI)的修改不是技术的错误，而是由于技术内部的手动调整. An efficient process allows the data to be copied across the lifecycle, with no breaks to allow errors.
改进的数据流可以使公司进一步分析报告和分析使用的数据，然后最终通过提出重新分配或替代来优化成本和提高业务效率. 约翰逊说, “From a different lens, 该技术可以通过多个司法管辖区和法规推动全球贸易报告的协调.”
Utilizing Data to Minimize Fails
If a trade fails, the best source is to find out the cause is through the data. 然而, 托管数据目前是碎片化的，没有标准化，需要适当的协作来将数据整合到一个平台中.
Johnson指出，托管人是如何分析他们的客户群的，并发现交易量的增加会导致更多的失败. “While smaller firms may not have many fails, the amount of time to solve the fail needs to be considered, and the possibility of buy-in brackets will cause additional challenges, when and if the buy-in regime goes live.”
Confidence in settlement is key. Having access and consuming the data, 此外，提取价值可以帮助防止失败，应该有利于定价和简化结算过程. 下一步是将这些数据应用于人工智能和机器学习平台，以帮助识别信号和趋势.
监管 requirements have come at a cost and over the last five years, 公司的IT预算已经用于满足整个金融市场的这些需求. On the horizon is a less burdensome regulatory outlook, 哪些企业应该能够利用这些数据来提高成本效率并进一步优化收入.
Johnson spoke about how behavior is still a major barrier, as automotive platforms are available but are not utilized. “CSDR has firms thinking about automation more and how it can enable a clean, robust 帖子-trade service, including enriched SSIs and agreed-upon instructions. The way forward comes with automation.”
整个行业, 企业被要求用更少的vns6060威尼斯城官网做更多的事情，更高的效率将转化为更高的匹配率. The ability to use data proves how efficient a firm can settle, and those who have the best rates will settle the fastest.
Increasing Usage of Data
There is an increased demand from issuers wanting to know who is holding shares, 以及由于股东权利指令(SRD II)的紧急响应。. 数据可以为流程提供信息，并在公司访问证券和在时间框架内管理流程时给予信心. This is becoming more critical around environmental, social and governance components, 因为这些数据可以为公司提供决定投票或召回证券所需的信息.
公共数据模型(Common Data Model, CDM)的价值在于，它将所有标准一次性放置到位. CDM can provide increased transparency, 一旦有更多的采用，允许监管机构找到新的方式来查看数据. 然而, since it is a “best-practice,” and not a regulation, the challenge is having it utilized by all parties. 约翰逊补充说，清洁发展机制的价值包括跨多个司法管辖区的协调. “随着越来越多的公司采用，很难忽视它，因为它提高了优化和自动化水平.”
Next-Step Technology Predictions
小组最后对数据技术解决方案的下一个主要步骤进行了思考. In addition to the increased use of blockchain in solutions, 以及利用现有的数据投资来货币化和降低成本, 约翰逊提到了技术在为市场提供额外安全方面的潜力, including the shortened settlement cycle.
Data will always be crucial, and the importance of data keeps expanding. Johnson emphasized the amount of technology solutions available. “公司需要了解他们能做什么，并接受外部供应商如何帮助解决方案.”