The reference data revolution: how firms can leapfrog

legacy technology

Key findings in the report include:

  • Trading companies are increasingly using an app-based approach to data consumption.
  • Legacy technology is one of the biggest obstacles to moving towards an integrated workflow.
  • Firms that see data and workflow as part of the same coin will have an edge in capital markets in the coming years. 

Quotes

 

“The bank is getting this massive file… It’s a very, very big, clunky process that hasn’t really changed in 20 or 30 years.”

 

Matthew Cheung, Ipushpull

 
 

"What it means is that you then end up with band-aids or manual processes to massage and manipulate the data to make it consumable by the legacy systems. But this accommodation could then end up creating breaks for other systems and applications”

 

Anupam Bansal, JP Morgan Chase

 
 

"We have individuals who understand workflow, but they also understand data and they understand how it all fits together. And so, they don’t see front office, they don’t see middle office, they don’t see back office. What they see is, how is my workflow affected?”

 

Krishna Nadella, Symphony Technology Group

 
 

“Now it seems that if you haven’t got data science in your title or your job description, you’re missing something.”

 

John Macpherson, Investment Association

 

Learn how firms can leapfrog legacy technology