Single source of trade data needed to futureproof regtech

Effectively managing and storing trade data will ensure that technology used to comply with current regulations remains usable for future requirements, says the chief product and engineering officer, Calypso. "[Having] data in a consistent format, where applications dealing with different product types, different parts of the trade life cycle and workflow are all contributing to that data source, and reading from that same data source, makes the job of reporting on that data so much easier," says Calypso's Richard Bentley. "Without that, for every single regulation that comes along, you are going to have to go to every application involved in the workflow that is impacted, modify those applications to extract the right data from each, pull it all together in a consistent format, try to transform and enrich it - and do that continually." In the 2019 bobsguide Rankings – announced in late November – Calypso ranked top for both regulatory compliance and integration with other systems. The firm came second in the degree of straight-through processing category.