Opening Cross: The Convergent Series: Data Science Friction

After years of watching market data and reference data functions extricate themselves from one another to form relatively autonomous units, the increased adoption of chief data officer functions by financial firms appears to be creating something of a reversal—or at least, a sense of convergence rather than divergence. The separation that took place over the last decade was not without good cause: until just over a decade ago, reference data was largely managed within a firm’s market data function, and didn’t get the recognition and support from senior management that it deserved. Poor reference data was a major cause of failed trades—a cost that has been eliminated to a large degree as a result of vendors like Markit creating products such as the Reference Entity Database, and firms getting their…

Link to Full Article: Opening Cross: The Convergent Series: Data Science Friction

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