Operations and Systems
Data and Systems
Front-to-back system architecture, market data and overnight batches, and data standards such as FpML, CDM and LEI.
Introductory1 pagePractitioner7 pages
1System Architecture
- IntroductoryFront-to-Back System ArchitectureSystems are often divided by function (trading; risk management; confirmation, settlement and collateral; and accounting), and their users span several departments.
- PractitionerLifecycle Event DataReporting data separates the action taken on a trade from the event behind it, and distinguishes 12 event types.
- PractitionerMarket Data ManagementDiffering assumptions between departments can distort financial reporting and market risk assessment.
- PractitionerEnd-of-Day Batch ProcessingEnd-of-day batch processing runs the jobs that use end-of-day values together, and is treated separately from online processing that runs on the spot.
- PractitionerTrading System Types and Vendor ExamplesTrading systems are viewed in three groups by how they are obtained: packaged integrated systems, specialist systems, and in-house builds.
2Data Standards
- PractitionerFpMLFpML can be integrated with ISO 20022 and is also a target of CDM mappings.
- PractitionerThe ISDA Common Domain Model (CDM)The CDM is a data model that aligns how financial products, trades and lifecycle events are represented, in a machine-readable and machine-executable form.
- PractitionerIdentifiers: LEI, UTI, and UPIThe LEI identifies the legal entity, the UTI the trade, and the UPI the product, and an ISO standard sets the form of each.