Companies in the outsourcing business can spend vast quantities of time on pricing on behalf of a client, says Matthew Cox, head of securities data management in London at Bank of New York. If an outsourcer gets that price wrong for whatever reason, the bank may have to reimburse the affected funds. "If the market data was insured, then you would be somewhat covered from the liability for paying out for errors," Cox says.
With insurance, it could be possible to obtain a premium in relation to
The week on Risk.net, July 7-13, 2018Receive this by email