Ebook The IBM Financial Markets Industry Models: Greater insight for greater value
Changes in market mechanisms have led to a rapid increase in the number and size of hedge funds and the burgeoning, widespread use of program trading and real time algorithmic execution. Where trade size has decreased, trade volume has increased, challenging the limits of even the most sophisticated data management platforms.
In addition, reporting requirements such as Basel II, Sarbanes Oxley Act (SOX), Advanced Notice of Proposed Rulemaking (ANPR) and International Financial Reporting Standards have forced firms to place a high priority on the production and storage of accurate and consistent data. Anti money laundering, payment regulations and evolving directives such as the Markets in Financial Instruments Derivative (MiFID) are mandating that sell side firms, for now at least, consider collection and storage of high-quality transaction and execution data to provide transparency, reduce costs and enhance the client’s experience.
As a result, financial firms have begun to reexamine ways to increase the speed at which they can respond to an increasingly informed and demanding customer base, new regulations and emerging marketplace changes. Often however, a complex web of legacy silos, disparate systems, redundant functionality and excess capacity prevent financial firms from achieving the agility and flexibility needed to operate on demand. This complexity results in redundant processes, excess costs and an inability to leverage and retrieve critical information when and where it’s needed.
These complex business models must be simplified not unit by unit, process by process or product by product, but across the entire organization. Financial services organizations need to establish a common framework and language of the business concepts, standards and data definitions to ensure their IT investments contribute to a consistent and, flexible architecture. This strategy helps reduce the expense of integration and increase the velocity and accessibility of information. But while that may be the end goal, there are many steps involved. For many organizations the question is, where and how to get started?
That’s where the IBM Financial Markets Industry Models comes in. It’s a comprehensive suite of models comprising of data, process and service based models that help financial firms accelerate the planning and requirements analysis of business process transformation, core system renewal and consolidated reporting solutions. It contains the proven business knowledge and best practices required to support critical business issues and ensure that IT projects are linked with business requirements. In addition, it provides a common blueprint of an overall framework for handling risk management and regulatory compliance, as well as re engineering, broadening and standardizing core business processes or implementing new business process architectures. Together, these capabilities can help you gain a more complete understanding of customer buying behavior, loyalty and the effectiveness of your marketing activities.
This executive brief explains how IBM can help your company leverage the Financial Markets Industry Models. In addition, it outlines the specific resources IBM has developed, including:
- Financial Markets process and service models, a content-rich set of models designed specifically for financial firms to enable the creation or optimization of enterprise-wide processes, and the supporting SOA services and component based development.
- Financial Markets data models that provide a blueprint for a comprehensive data warehouse and analysis templates for use by business intelligence applications.
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