Monthly Archives: June 2015

Harmonizing Babel: Business Ontology Standards in Focus

Paul McInnis, Head of Enterprise Data Management, Data Management


Business Ontology Standards in FocusThe Wall Street Journal, in a headline six years ago, asked: “Are dictionaries becoming obsolete?” The article, to the chagrin of some traditionalists, implied that if the dictionary wasn’t yet obsolete, than the end would be approaching soon. Yet, in an era when even Scrabble saw fit to adulterate its official dictionary it with millennial slang — be it “lolz,” “lotsa,” or “ridic” — hope remains for the traditionalists, as best practices in data management are driving the adoption of thorough and comprehensive business glossaries. At this point, advocacy may be isolated to data scientists and CIOs, but make no mistake, appreciation and the demand for precision around ontology standards is growing as this uniformity, or lack thereof, is among the larger “gating” items for large-scale enterprise data management projects.

For the uninitiated, a business glossary is the definitive reference guide that establishes and cements a standard for business terms and relationships across an enterprise. In an era of ever-sprawling financial institutions, in which organizations stretch across regions, asset classes and cultures, a definitive business glossary is critical to engender a common understanding around what each term means for all employees and business partners, and in all cases.

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Building a Platform for Regulatory Reporting with a Solid Data Management Foundation

Marc Rubenfeld, CIPM, Head of Eagle Solutions EMEA/APAC


Building a Platform for Regulatory ReportingThe regulatory environment and increasing compliance demands persistently rank among the top concerns for European financial services firms and, as the rules are always changing, these topics continue to be the subject of much discussion. At Buy-Side Technology’s recent European Summit, for example, both roundtables and panel debates focused on how firms can address this growing regulatory burden.

Since the global financial crisis began, we have seen a swath of regulation across the financial services industry. Legislation that has, or will soon, come into effect includes the Alternative Investment Fund Managers Directive (AIFMD), Solvency II, the Markets in Financial Instruments Directive (MiFID) II and Regulation (MiFIR), Undertakings for Collective Investment in Transferable Securities (UCITS) V and the European Market Infrastructure Regulation (EMIR). Although these regulations target different areas of the industry and tackle different issues, they are broadly designed to improve transparency, risk management and customer protection.

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