The current structure of IT systems, especially trade and risk management applications, lies at the heart of many of the largest issues faced by financial services firms today. Typically, these risk management systems have evolved over time to meet short-term, focused, tactical needs. This evolution is interrupted by globalisation, organic growth and frequent mergers and acquisitions, which leave 'deep scars' in the IT landscape and force together systems of different origins
While individual systems may meet the functional requirements of their primary users, many organisations struggle to achieve a consistent, accurate and timely view of their business as a whole. This is notable when it comes to management and control functions such as trade management, or quantifying risk measures or P&L across several asset classes – all of which require a holistic view across multiple business lines (and therefore multiple systems).
More on Technology
IT systems not geared for trade reporting under EU anti-manipulation law
Result comes despite tougher rules on market manipulation and abuse
Focus needs to be on reacting, not stopping every threat
Companies can wring more value from regulation-mandated data
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.