Counterparty data mergers

[Cate Long]

For you data geeks out there... interesting process and use of
industry utilities...

RBC Capital Markets is working on a counterparty data program to
centralize and standardize data and processes

RBC Capital Markets has accelerated its counterparty data program,
creating a golden copy and working with partners to validate data and
meet regulatory requirements.

London-based Julia Sutton, global head of customer accounts, RBC
Capital, who presented the case study at the Avox user group meeting
in London in July, said counterparty data does not work in isolation,
and to make improvements at RBC it was necessary to focus on four
different areas.

The first step was the creation of a golden copy. RBC previously had
two golden copies of counterparty data, and these have now been merged
into one golden copy.

The firm is working with counterparty data vendor Avox on cleansing
and maintaining the data in the golden copy. "I don't want to build a
big team, and we've chosen to have the [Avox] team in Wrexham as our
partners," she said.

To make the golden copy useful, the second step of the program is to
work with data vendor Alacra to add the cross references, such as
different identifiers. If the Markit Red code is in the golden copy,
the pricing team will also want to use the data, explained Sutton.

The third step of the program is focused on issuer ratings. "One of
the big things for us at the moment is issuer ratings," said Sutton.
In the last couple of weeks, RBC has been doing a proof of concept
with Interactive Data on adding issuer ratings to the cleansed data.
The issuer ratings will help RBC join up the counterparty golden copy
file with the securities master file. "We've seen some real benefits
already," she said

http://www.waterstechnology.com/inside-reference-data/news/1720530/rbc-capital-rolls-out-counterparty-data-program