Like many in the securities industry, Kevin Carter, chief technology officer (CTO) for hedge fund manager Dialectic Capital Management, is no stranger to the challenges presented by third-party data sources that are essential to a trading enterprise.
Carter took time out of his schedule to answer questions from FTF News about the biggest barriers to efficiently managing third party data. The video interview took place in mid-June at SecOps North America 2016, a two-day securities operations conference held in Toronto and sponsored by Financial Technologies Forum (FTF). (Carter was a featured speaker for the event.)
The core of the problem is disparate data types from multiple industry sources, which means that firms will often have to deal with sorting out very similar data delivered in very different formats. “Mapping those different data points can sometimes be difficult,” Carter says.
For instance, the different data classifications presents majors challenges that require exception management efforts and exception reporting support all of which “breaks down where the sources have gone bad,” Carter says.
Carter also discusses some solutions and a potential standards effort to help provide some relief with these issues.
CREDITS:
Video Production: Janene Knox and William J. Poznanski, Jr.
Interview conducted by: Eugene Grygo, chief content officer, FTF News
Co-Producers: Sarah Hathaway, vice president, Financial Technologies Forum (FTF) and Eugene Grygo
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