As the Data Manager, you will have noticed the ever-increasing responsibility to ensure that end-of-day or intra-day pricing for enterprise-wide distribution is accurate and verified. New instrument types and OTC instruments contribute to a further increase in the demands. Achieving a verified and credible price has never been more important. Adequate archiving and reporting of the prices – and of the methods used to verify them – is a standard requirement.

The challenge is to ensure that every individual data item – whether it is sourced from the standard providers, specialist suppliers or in-house applications – is managed appropriately. Each item must be  collected in a timely manner, rigorously tested against a variety of criteria, published within strict timeframes across multiple time zones, with a detailed Audit Trail to demonstrate the application of best practices, as dictated by regulations. Collection of historical performance statistics is also required to facilitate analysis of the underlying processes and Six Sigma style continuous process improvement.