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Buy-Side Firms Lack Confidence in Their OMS, Risk Data: Survey

Buy-side firms aren't confident the data they're getting from their order management, accounting and risk systems is consistent and of high quality, according to a survey conducted by software provider SimCorp.

Buy-side firms aren't confident the data they're getting from their order management, accounting and risk systems is consistent and of high quality, according to a survey conducted by software provider SimCorp.

In a poll of nearly 100 executives from 50 buy-side firms, SimCorp found that more than 40 percent are concerned about their data quality. The survey noted that 67.4 percent of the respondents said they must also exert a "significant effort" in reconciling the data they're getting from disparate systems. Meanwhile 22 percent said it would take "days" for them to generate a report calculating their firm's exposure and performance across all holdings, including derivatives.

"The statistics are distressing," said Matt Samelson, principal at the consulting firm Woodbine Associates. "According to these numbers, 40 percent of those surveyed are making investment decisions based on poor quality data and nearly 30 percent do not have a near real-time view into their exposure, making it impossible for these firms to be agile and respond to shifting market dynamics." As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio

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