Screen Event Stockholm 2012: “Defining financial data requirements in an increasingly uncertain world”.
STOCKHOLM, May 8, 2012 – On May 8th 2012 Screen Markets hosted its 7th Screen Event Stockholm. Aimed at the Nordic financial information services industry, the event attracted more than 100 professionals from user firms, vendor organisations and intermediaries from Sweden, Norway, Denmark, Finland and some other countries. The Event featured both a conference and an exhibition.
On the exhibition floor the Screen Group booth was well visited by customers, business relations and passers-by that were curious to learn more about Screen’s in-house developed cost & contract management system, INFOmatch, and its latest features related to customisable dashboards, user tasks, web reporting with drill down functionality, motion charts, heatmaps, alerts, benchmarks, self certification, and more. Furthermore, they showed a serious interest in Screen’s leading consultancy practice dealing with market & reference data and investment management advisory services.
The theme for the conference was “Exploring best practices in financial information services” and saw four speakers present their insights on topics such as benchmark index data management, counterparty risk management, the growing importance of derivatives clearing, and how to be prepared for the growing demands by the business side for new data.
In addition two panel sessions were held. One panel consisting of representatives from vendor organisations, the other panel having senior managers from user firms. One of the themes that appeared throughout the conference was the imminent introduction of the Legal Entity Identifier, and how user firms should prepare themselves for it. While the creation of the LEI itself is a fairly unspectacular business (a random-generated number will be assigned to each legal entity) the mapping of the LEI’s to the instruments it has issued is no easy task. Each vendor organisation has had people in data operations and product development look into this and presented their thoughts and plans to user firms. The end result should be that a firm’s exposure to a particular issuing entity is made more transparent, so that the ensuing counterparty risk may be measured and better understood.
Another recurring theme, particularly in the two panel discussions, was the need for data centralisation, whether in-house or outsourced. What considerations should user firms make when deciding whether to allow for various data pools to sit side-by-side in one firms (including the resulting higher market data costs) or to create one data repository for the whole firm to use (through a potentially time and resource consuming project). As could be expected, the panels didn’t deliver one definitive answer, but helped the audience understand the various elements that they should be researching in the decision making processes. The decision to centralise all market and reference data in one master database is more often than not a strategic or even philosophical one, rather than purely driven by the outcome of a (financial) business case. The step to then organise this centralisation in-house or to outsource it is a totally separate one, and typically has to do with the type of user firm (sell side firms tend tokeep everything in-house), the type of data (market and reference data is less firm-sensitive than for instance client data or counterparty data), and the potential for cost savings (managing benchmark index data can get very costly very quickly).
All in all the Screen Event Stockholm 2012 fulfilled the expectations of those wanting to hear about some best practices in the current financial information services industry and wishing to take away from the day one or two ideas.
The Screen Group offers a range of specialised services and solutions for the professional Financial Services Industry.
At the foundation of the company Screen built a unique consultancy practice that has made Screen THE global leader for market and reference data advisory services. Through benchmarking, user profiling and requirements inventory Screen assists user firms in optimising their market data spend, as well as in researching, selecting and implementing software applications and solutions.
To inform the Financial Services Industry of new vendors and industry trends, Screen has been organising one day trade shows, Screen Events, for the last 18 years.
The offering is completed with a range of in-house developed and supported software solutions, the INFOmatch suite, which allows user firms to manage market data spend, create cost transparency and reduce redundant services.
The labels that represent this unique suite of complementary services are Screen Consultants, Screen Markets and Screen INFOmatch.
For further information please contact:
Mr. Roel Mels
Tel: +31 73 6122 940