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Cambridge University Press 978-1-107-01202-8 - Handbook of Financial Data and Risk Information: Volume II: Software and Data Edited by Margarita S. Brose, Mark D. Flood, Dilip Krishna and Bill Nichols Index More information

Index

3D graphics see also InfoVis; visual analysis of securitized-loan characteristics 112 financial data super-aggregators 257 3D spatial layouts 305–307 visualizations 290, 303 cubes & hypercubes 302 working with 292 dimensionality 291 agile software development 426–427 interactive 284 AI (artificial intelligence) 286 pitfalls 306–307 AICPA (American Institute of Certified Public treemaps 305 Accountants), standards 162 AIG (American International Group) 28 ABA (American Banker’s Association) 186 algorithmic trading systems 228 ABSNet Lewtan 91, 92, 95, 98, 107, 112 algorithms, visual analysis tools 312 abstract tools (risk management) 151, 307 All-Star bank 31 Accenture (service provider) 391 ALLL (Allowance for Loan & Lease Losses) 96–99, 97 access layer (analytic systems), definition 226–227 Alsakran, J. 284, 301 accessibility, data 489, 513 A.M. Best Company, Inc. 14–15 “account,” definition 9n4, 36, 40 Amar, R. 284, 287, 288 accounting function, data usage reports 343 American Airlines, Object Management Group 165 accounting standards, organizations 162 American Banker’s Association (ABA) 186 accounts payable systems 433 American Institute of Certified Public Accountants Accredited Standards Committee X9 (ASC X9) 25, 162 (AICPA), standards 162 accuracy (data), definition 488, 513 American International Group (AIG) 28 accuracy issues (data & information) American National Standards Institute (ANSI) 25n56, bad data, undetected 260 159–160, 161 missing financial values 265–267 Ameriprise 9 Security Master operations 73, 73–75, 76 AMQP messaging standard 165 “spread-mart” data & reports 443 analysis & design stage, definition 410, 413 ACM (Association for Computing Machinery) 498 analysis phase 407–409, 414, 419 “Acme Bank” (functional models) 42–46 analytic data processing, definition 220–225 “Acme Financial” (functional models) 38–42, 47 analytical reasoning, science of 285–288 “acquisition” (corporate action), definition 69 see also analytics see risk analytics mergers & acquisitions animation technology, securities information 283 activity overlap, FRAT programs 414 ANSI (American National Standards Institute) 25n56, ad hoc analytics tools 418 159–160, 161 Address (legal entity attribute) 58–59 anti money laundering 54n5, 54, 55 Adobe, PDFs 179–180 API (application programming interface) 256 agency trades, definition 7n1 Apple Inc. 171–172, 187 agent banks 11, 17, 34 application programming interface (API) 256 aggregated data 223 applications software entries analytic tools 418 design 341 data vendors 255–257 diversity 329, 351–352 GSE websites 103, 104 FRAT programs 415–416 interactive visual analysis 308 metadata management 329, 346, 351–352, 485 REMIC-SPVs 111 new 454

521

© in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-107-01202-8 - Handbook of Financial Data and Risk Information: Volume II: Software and Data Edited by Margarita S. Brose, Mark D. Flood, Dilip Krishna and Bill Nichols Index More information

522 Index

applications (cont.) attribution to source, pricing data 80 remediation 406 audit practices, standards 162 segmentation 82 audit trails (data access/edit) 91, 117, 276, 343, 443 testing 420–421 audits, operations management 461 total cost of ownership 345–346 Austria, sovereign debt exposure 320 approval process, loans (“Acme” functional models) authentication (system security) 374–375 42–46 Average Time Value (ATR) 284 architectural impact analysis 48 AVID code 192 architectures see information architectures; network AVMs (automated valuation models) 93 entries Avox International 83, 192 archiving data 458 Arias-Hernández, R. 287 back office systems arithmetical operations 264 data quality 253 ARMS (Automated Records Management System) 518 vs. front office resources 152–153 arrays (data structures) 289, 300, 302–303, 314, functions & processes 35 333–334 pricing data 77 artificial intelligence (AI) 286 resources 87, 152–153 ASC X9 (Accredited Standards Committee X9) 25, 162 securities processing 51–52 ASCII character set 168, 171, 172, 259 typical functions 60 ASCII Standard 167–170, 173 backup & recovery, analytic data 444–445 assertion testing 493–494 Bailey, Robert W. 287 asset classes balance sheets, node-link diagrams 303 asset class correlations 189 bandwidth 223 mapping trade & position attributes 82–83 “bank” (legal entity type), definition 56–58 supported within FpML 195–197 bank books 36 asset, definition 10n6 see also data asset management; bank departments 46 data profiling; information asset profiling Bank for International Settlements see BIS asset/liability management (ALM) bank holding companies (BHCs), “holding company” 38 buy-side financial institutions 10–11 Bank of America 114, 284 funds transfer process 45 Bank of New York Mellon 16 ISO 27002 information security 362 Bank Secrecy Act 371–372 see also privacy national external balance sheets 303, 303–304 requirements asset performance, InfoVis 284 bank/banking, types of see also bank holding asset product categorization, data standardization 24 companies; FRBanks; functional models asset profiles (data assets) see data asset management; “central bank” 56–58, 155 data profiling; Information Asset Profiling commercial banks 11–13, 17 asset transactions, definition 37 corporate banking 34, 46 asset type, instrument identifiers 74 internet banking 12n15 asset valuation 75 investment banking 11, 33 asset values, collapse (liquidity collapse) see asset merchant bank 13n23 entries; contagion; global financial crisis, 2007- private banking 10 2009; liquidity entries; mortgage-backed wholesale banking 12–13 securities; subprime mortgages; systemic risk, Bankers Almanac Bank Identifier 190 illiquidity 30–31, 31n82 banking business, transaction types 36–37 assets, as liabilities, definition 10n6 bankruptcy, interest in real property 119 Association for Computing Machinery (ACM) 498 banks/depositories, definition 15–16, 17 ASTM International 162 bar charts, visual analysis 295 AT&T 158–159, 162, 187 Barnes, J.A. 303 Atlanta, Georgia, InfoVis 280 Barth, M.E. 96 ATMs 363 Base64 encoding 173 ATR (Average Time Value) 284 Basel II Accord (BCBS, 2006) attributes (data) Business Process Gap Analysis 406, 407 attribute analysis 490–491 compliance spending 387 column property analysis 495 data governance funding 473 data type analysis 491 ISO 10962 CFI 193 dimensions 302 Basel III Accord (BCBS 2011b), vs. Dodd–Frank Act 30 referential analysis 491 BATS Europe 183 visualization, data set mapping 294 Battelle’s Pacific NW Nat Lab 281 attributes (distributed networks) 150 Bay, S. 283 attributes (graphical/optical) 294, 301, 308 BBCID code 193 attributes (of metadata) 518 BBGID security identifier 187

Index 523

BBUD security identifier 187 borrower metadata (residential mortgages) 92 see also BCD character set 172 client metadata; customer metadata to-be-announced mortgage-backed securities BPM tools (business process management tools) 274 (TBA-MBS) 79, 100–102 Brazil bead cluster diagrams, visual analysis 298–300 CNPJ company identifier 190 Beck, K. 308 Security Master operations 73 Becker, Joe (Xerox) 171–172 sovereign debt exposure 320 behavior, borrower 88, 101 “Bring Your Own Device” (BYOD) 217 behavioral economics 312–315 British Standards Institute (BSI) 159–160, 162 Belgium, sovereign debt exposure 320 Brodbeck, D. 288, 289 Bell System 158–159, 162 brokerage, service providers 78 benchmarking, business performance 267, 391 brokers/broker-dealers, definition 9 benchmarking, IT system performance BrokerTec 78 data quality 265 Brooks, F. 387 EDM Council 75 Brueckner, J.K. 88 integration testing 457 BSI (British Standards Institute) 159–160, 162 operations management 452–454 bullet graphs 319 Proof of Concept 71, 452 bus (system bus) 230–231, 234 screening data 265 business analysis see also analytics; InfoVis; visual XBRL 25 analysis of financial data Benington, Herbert 404 intelligence tools 244, 419, 433 Bera. P. 283 metadata 485 Berndt, A. 86 models 201, 213 Berners-Lee, Tim 164–165, 217 objects 495, 496, 497 Bertin, Jacques 282 ownership, code list models 197 bespoke vs. packaged solutions 71 tools & software 446 BG Cantor Market Data 78 transaction types 36–37 BHCs (bank holding companies), “holding company” 38 business architecture 406, 410, 414 see also BIC code (Bank Identifier) 58–59, 190 information architecture BICs (bank identification codes) (ISO 9362) 58–59, business case development, FRAT programs 391, 166, 189, 190 391–392 see also costs/benefits entries; Big Bang cleanup 217 implementation strategies; issues; planning; scope big-bang implementations 422 management Big Data 217 business needs analysis 406, 407 risk analysis data sets 224 business vision 406, 407, 414 technology approaches 217, 240, 245–248 change management 423 Biggs, N. 303 business continuity, risk management 48 BigTable (Google) 247 data sources 258 binary encoding 168, 171, 173, 173–174 information assurance 470 BIS (Bank for International Settlements) ISO 27002 information security 362 “Financial Markets Firms” 155 operations management 445, 461–462 SDMX standard 197 planning 48 statistics available from 319 testing 447 blogs, analyzing 289–290 business entities see legal entities Bloomberg business–IT interface 389 competence 73 Business Objects (BI tool) 433 data cleansing 16 Business Process Gaps Analysis 406, 407 IDs 58–59, 74, 91, 187, 187, 193 business process management tools (BPM tools) 274 mortgage loans 92, 95, 98 business processes see also functional models; process pricing data 78 descriptions prospectus posting 107 BPEL 151 reference data 212, 226 BPM tools 274 REMIC-SPVs 112 current state analysis 407, 414 Security Master data 68 FRAT workstreams 406, 415 “blue sky laws,” definition 17, 22 Gap Analysis 406 blueprints, Enterprise Architecture 144, 514 metadata 343, 344 board of directors (banks & other financial institutions), process design 143, 151 corporate actions 69 Security Master 68–70 The Bond Market Association (TBMA) 23 business rules metadata see also data profiling; data Bondy, J.A. 303 validity borrower behavior, information asymmetries 88, 101 data intelligence solutions 275

524 Index

business rules metadata (cont.) CFPB (Consumer Financial Protection Bureau) 20–21, data profiling 492–493, 493–494, 494 364 metadata management 341, 349 CFTC (Commodity Futures Trading Commission) buy-side financial institutions 9, 10–11, 155, 206 CICI identifier 190 BYOD (“Bring Your Own Device”) 217 origin & purpose 20 Chang, R. 284, 285, 289, 304 CA Technolgies 376 change management 454–457 CABRE numbers 192 change categories 454 calculated data (“calculation layer”) data governance 519–520 analytic results data 223 FRAT construction projects 415 analytic systems 227–228 FRAT programs 398–400, 406, 422–425 calculation rules 341 goal 455 functional dependency analysis 491 growth 456 metadata management 341 implementation speed 229 money aggregators 258 integration testing 456 Caldwell, C. 303 “Law of More” 454 CALEA (Communications Assistance to Law policy/process 455–456 Enforcement Act) 363 problems 456 California, property recording 116, 117–118, 119, process flows 276 120–127 character data standards 167–173 call centers (help desks), definition 458 international requirements 170–171 Canada Microsoft 170 Basel II compliance, cost of 387 Unicode 171–172, 172 national security identifier 186 UNIX operating system 170 Canadian Government Bonds 78 Xerox 171–172 candlestick charts 294–295 character sets 172 capacity planning see scale, issues of ASCII 168, 171, 172 capital conservation 30 BCD 172 capital markets data see also markets entries; EBCDIC 170–173, 172, 259 Master Data; Reference Data; securities; international requirements 170–171 Security Master ISO/IEC 8859 172 current systems 149–151 Charles Schwab (retail brokerage) 9–10 organizations 152 charters (banks & thrifts) 19 pricing data providers 78, 79 charters (data governance) 509–516 trade information 78 charting tools, providers 295 capital markets data (metadata), data models 153–154 Chase 114 Card, S. 286 Chaudhuri, S. 302 Carnegie Mellon 466 Chicago Board Options Exchange 183 Carroll, John 287 Chief Data Officer 352, 475–476 case studies, visual analysis 312–320 current environment 352 cash-flows China functional dependency analysis 46 ISO 159 loans (“Acme Bank”)81 outsourcing to 429 securitization 30–31 Chinese wall 11 Caterpillar, Inc. 187 CIB code 190 CCITT (Comité Consultatif International Téléphonique CICI identifier 190 et Télégraphique) 161 circle graphs, visual analysis 295 CCPs see central counterparties Citimortgage 114 CDOs (collateralized debt obligations) 223 classifications see financial classification schemes, CDSs see credit default swaps metadata; financial metadata, codes & keys; IT CE-NIF (Committee to Establish a National Institute of concepts; classifications Finance), purpose 56 clearing & settlement systems see also DTCC “central bank,” legal entity definition 56–58 current environment 148 central counterparties (CCPs) see also counterparties; data standardization 24 Counterparty metadata; swap agreements 28 EFTA Act 363 central data management 274 real-time data 78 “central government body,” legal entity definition research environment, user requirements 252 56–58 service providers 79 centralised solutions 73–75, 473 clearinghouse, definition 15 CFI codes (Classification of Financial Instruments) client metadata (functional models) 36, 40 see also (ISO 10962) 166, 189, 193 borrower metadata; customer metadata

Index 525

Client On-Boarding (CoB) 54 decision-making process 287–288 client reporting, service levels 82 financial intermediaries 148–149 CLIP security identifier 187 FRAT projects 388, 389 cloud (network/internet) 152 human knowledge 74 cloud computing identification schemes 183 applications 358 Legal Entity metadata 76 CALEA Act 363 MPPs 240 vs. network cloud 152 pricing policies 79 providers 358 queries 224 reference data 212 security & privacy 375 security 358, 375, 376, 379 Security Master 74 systems 217 supply chains 148–149 CNPJ code (Brazil) 190 system 73–75 Coates, Anthony (OASIS) 195–197 trade & position data 82 CoB (Client On-Boarding) 54 compliance COC (Comptroller of the Currency) see OCC Basel II spending 387 Codd, E. F. 302 data management 341, 466 code list standards 194–198 definition 277 codes see financial metadata, codes & keys IA 470 cognition & perception, graphical images 281–282, information security 362 320–321 positions data 82 cognitive fit theory, definition 288 visual analysis and InfoVis 285 Cognos (BI/VA tool) 311, 433 Comptroller General 20 see also OCC COI (cost of outstanding income) 316, 317–319 Comptroller of the Currency (COC) see OCC collateralized debt obligations (CDOs) 223 computation, definition 223 column property analysis (fields/attributes) 495 computational methods, limitations 286 comma separated values see CSV format computer language, single common 25 commercial banks 11–13 computer limitations, current environment 230 regulators 17 computer program, definition 231 commercial off-the-shelf (COTS implementations) computer/human symbiosis 286 406, 416 computers, how they work 230–232 commitment, building 398–399 conceptual system design, developing 410–415 Committee to Establish a National Institute of Finance concordances (data interchange), definition 189 (CE-NIF), purpose 56 confidentiality (data & information) 469, 505–506, 507 commodities, data as 465 see also privacy requirements commodity futures, CICI code 190 Congress see US Congress Commodity Futures Trading Commission see CFTC consistency (data) see data consistency commodity identifiers 187 consortiums, technology 158–159, 162–163, commodity pricing, data providers 78 164–165, 171 communications (computer) see also network protocols construction stage, definition 413, 415–421 ECPA Act 362–363 Consumer Credit Reporting Reform Act 366–367 metadata information 353 consumer devices 150–151 system security 362, 377–378 employee owned 217, 358 Communications Assistance to Law Enforcement Act mobile devices 358, 379 (CALEA) 363 Consumer Financial Protection Bureau (CFPB) communications with users 460 20–21, 364 agile software development 426–427 consumer protection 20–21, 368 communication management 394–396 contagion (crisis context), international debt 319–320 data governance 482–483 see also counterparty risk; global financial data load reports 441 crisis, 2007–2009; interconnectedness of FIs; FRAT programs 394–396 systemic risk operations management 459–460 containers see data containers techniques 482–483 Context+Focus 295 competition/competitive factors contingencies, FRAT programs 402 benchmarking studies 391 Contract metadata see Financial Contract metadata data as an asset 269, 465, 466–468 controlled vocabularies, external code lists 194–198 in-house application build 416 Cook, K.A. 280, 281, 282, 285, 286 open systems 180 Corelogic 91, 93, 112, 226 standards 158 corporate actions data complexity issues see also issues; scale, issues of custody environment 253 current environment 87 data provenance 277

526 Index

corporate actions data (cont.) leveraging analytics 423 data sources 70 COTS implementations (commercial off-the-shelf) event type standards 70 406, 416 ISO 15022 70 counterparties 53 ISO 20022 210–212 central counterparties 28 matching data sources 259 legal ownership 54–55 Security Master 67 LEIs 24n54 super-aggregators 257 Counterparty Link 192 corporate actions, definitions 69 counterparty metadata (legal entity metadata) 36 see corporate banking 34, 46 also Legal Entity metadata “corporation,” (legal entity type), definition 56–58 counterparty RDMS table 242–244 Corporation for National Research Initiatives 215 counterparty types 58 correlated risks, definition 27n64 example key fields 82–83 correlations 189, 291, 300 reference data 40, 212 costs/benefits, data management (enterprise quality counterparty risk 53, 56, 81 data) see also business case development, FRAT country codes 182, 184, 194 programs; implementation strategies; scope country codes (ISO 3166) 181–182, 182, 184, 194 management Country of domicile (legal entity attribute) 58–59 customer data 423 CPLID code 192 data aggregators 255–257 CPUs (central processing units) 230–231 data as an asset 466–468 current environment 232 data breaches 375 evolution 231–232 data cost allocation 274 HDD relationship 234 data governance 498, 501 microprocessors 216, 231–232 data quality 229, 274, 497 MPPs 238–240, 245 data quality levels 253, 260, 263, 269 parallel computing 236 data security 357 credit cards 433 data supply chain 277 credit cards, risk limits 221 data transparency 117 credit default swaps (CDSs) 28n69, 28, 78, 223 dual keying 60 credit derivatives, pricing data providers 78 Enterprise Data Management 74–75 Credit Identifier (legal entity attribute) 58–59 high data quality 497 credit rating agencies 14–15, 15, 214, 365–366 identification schemes 183 Credit Rating Agency Reform Act 15 information supply chain 253, 260 credit ratings Legal Entity Identifiers 58 DFA vs. Basel III 30 legal entity standards 56 loan decisions 44 manual processes 79 Security Master 67 pricing data 77 credit ratings, lifecycles 73 residential house prices 93 credit risk, self-selection 88–90 Resource Description Framework 349 creditworthiness 14–15, 364 self-referral data tools 275 crimes see also anti money laundering; data security; specificity 253, 260, 263, 269, 408, 501 FINRA standards 56, 198–199, 214 credit card fraud 221 technical metadata 335 data loss 469 third party penalties 448 data security breaches 357 costs/benefits, metadata management EFTA Act, (US) 364 business efficiency 346–347 false pretenses 369–370 business risk 342 fraud detection 285, 304 service outages 351 GLB Act 369–370 total cost of ownership 345–346 identity theft 469 costs/benefits, program/project resources mis-pricing 76 costing FRAT projects 404, 414 money laundering 371 high-availability solutions 446 node-link diagrams 304 hiring consultants 74 crises large projects/repetitive tasks 429 major system disasters 445 outsourcing 429 spread-mart decisions 443 costs/benefits, re-regulation crisis prevention 19, 320 Basel II compliance 387 cross-referencing 67, 80, 189 see also data regulatory initiatives 391 relationships; financial metadata, codes & keys costs/benefits, risk management tools crowd-based services 217 analytic systems 229 CRUD acronyn 443

Index 527

Crystal Reports (BI tool) 433 tests 420–421 CSV format (comma separated value(s)) 177–178, data access, permissioning/entitlements 344–346, 436, 177, 178 505–506 see also confidentiality; privacy CTSLink requirements loan IDs 91 Acts of Congress 357 mortgage loan data 92 confidentiality levels 469 mortgage-performance data 95, 98 FRA ecosystem 441–444 prospectus posting 107 personally identifiable information 442 remittance data 112 data access solutions, implementation strategies 262 cultural change 399 data access speed, definition 233 currencies, technical metadata example 333–334 data accessibility (data quality dimension), data Currency & Foreign Transactions Reporting Act see integration 489, 513 Bank Secrecy Act data accuracy (data quality dimension) 488, 513 currency codes data creation & update 513 example codes 181 data accuracy issues ISO 4217 166, 181 Bad data, undetected 260 stability of 194–195 Security Master operations 73, 73–75, 76 standardization 140–141, 181 “spread-mart” data & reports 443 currency data, transformation 264 data architecture principles 412, 513–514, 516–517 current state analysis data archive & purge 458 business processes 407, 414 data asset management (data as a corporate asset) 274, IT system architecture 406, 408, 414 465–471 see also data profiling CUSIP codes 186 asset profiling 466, 509 CLIP security ID 187 asset valuations 506–509 legal entity data 58–59 revenue generation 466–468 REMIC MBSs 102–104 risk management 468–471 securities 74 data asset non-repudiation, definition 470 CUSIP/Avox, CABRE code 192 data authenticity, definition 470 custodians, definition 16, 17 data availability, definition 470 customer account, fund transfer 45 data backup & recovery (analytic data) 444–445 customer care, Fiduciary Standard 29 data completeness (data quality dimension) 488 customer metadata (examples) see also borrower data creation & update 513 metadata; client metadata data dictionaries 489, 513 “customers” table 491 data integration 489, 513 data KPI 497 data compliance, definition 277 data relationships 495–496 data consistency (data quality dimension) defining “customer” 485 compliance 341 historical data 434 creation/update 488, 513 joining data sets 222 data models 489, 513 Master Data 483–484 dictionaries 489, 513 reuse/sharing 423, 472, 483–484 integration 489, 513 Customer Name (legal entity attribute) 58–59 market data 267 Cutter Associates presentation 489 Cuzzocrea, A. 302 reference data 266 data consolidation 84 Dang, T. 309–310 data containers 503–505 “dashboard” user interface 274, 317 data content standards, definition 166–167 data & information, definition 227 data cubes 302–303 data access see also data access, permissioning/ data dictionaries 339–341 entitlements; data security; I/O; privacy enterprise data governance 489, requirements; processing power 513, 514 analytic information 220–225 MDDL language 212 current environment 233–234 securities trading messaging 200 data integrity 505–506, 508 data, disposed, definition 377 data loading 441 data, filtering 223 ISO 27002 information security 362 interactively 290–291, 307 managing 461 reducing dimensions 291 operational information access 220 techniques 264 operations management 436, 436–446 visualizations 291, 307 performance limits 450–452 data filtering, definition 223 RDF working group 348 Data finds Data 217

528 Index

data flows see also cash-flows; process flow reference data repositories 83 management; supply chains; transaction flows Resource Description Framework 349 current state architecture 408 Single Version of the Truth 472–473 information architecture 408 technologies 354 silos, data 270 various vendors 259 transaction flows (functional models) 39–40, 42–48 workstreams 419 data gaps analysis 408–409 see also Business Process data integrity (data asset integrity) 469, 505–506, 508 Gaps Analysis data intelligence solutions 275 data management plans 413 data interchange standards 177–179 see also data example report 409 loading; data transfer; Extract-Transform-Load data governance (enterprise data governance) 464–471 tools see also data dictionaries; data management; data CSV format 177–178 quality entries; data stewardship; Enterprise Data email data 173 Management; metadata management ISO TC68 financial services 165–166 data architecture principles 412, 513–514, 516–517 Microsoft Excel 178–179 data duplication 472–473 organizations 158–165 EDM Council 63 origins 157–158 funding models 473–474 data inventory 352, 466 see also data profiling global financial crisis 56 data lineage 252, 262, 277 high value data 486–488 data link layer (OSI) 235 real-time data 253 data loading 436, 437–441 see also data interchange revenue generation 466–468 standards; data transfer; Extract-Transform-Load scope management 514–515 tools specificity vs. time 501 communications 441 data governance charter (example) 478, 509–516 data profiles 496 data governance concepts 63, 384, 413, 464, 498 see load reports 441 also Data Management Maturity Model; load windows 441, 447 Enterprise Data Management loading requirements 437–441 attribute analysis 490–491 operations management 80, 262, 437–441 bottom-up model 479 SLAs 437–441 center-out model 479 data loss/leakage 469 governance components data management 468 see also costs/benefits, data hybrid models 480 management; data governance; data quality; data key processes & activities 520 security; data stewardship; Enterprise Data models in the public domain 63 Management; Master Data Management; metadata Single Version of the Truth 472–473 management stakeholder analysis 474, 480–481 architecture stream 406 tools & techniques 273–276 and data governance 468 top-down data governance 478–479 disciplines, definition 413 data governance failures 468 efficiency 271–272 data governance function failures 468 authority 509–510 FRAT programs 412–413, 413–415 change management 519–520 GUI 71 communications 480–481, 482–483 management roles 413 roles & staffing 474–478 projects workstream 406 Data Governance Institute 464 trade & position data 82–83 data governance measures, KPI’s & reports 497–498 Data Management Maturity Model see DMM data governance programs 472–473, 481–482 see also data mapping 81, 153–154, 263–265, 292, 294, 514 data governance charter data marts see datamarts formational sessions 516 data model, definition 472–473 FRAT workstream 419 data modeling concepts see also arrays; data sets; data implementation strategies 269–273, 473–474, structures; functional models; semantic models 477–480, 515–516 data architecture 412 prototyping 473 data architecture principles 412, 513–514, 516–517 data governance projects 473 data field mapping 81 data, high value 486–488 and data sets 412 data in motion 377, 378–379 entity types 154, 472 data in use/at rest 377, 378 normalization 245 data input, dual keying 60 RDMBS diagram 242 data integration structuring techniques 241 quality measures 489, 513 data models (metadata) 35

Index 529

capital markets data (metadata) 153–154 requirements definition 440 consistency 489 supply chains 265–269 current environment 149–151 tolerance settings 267 data standardization 24, 25, 514 transaction reconciliation 267, 275 dimensions 244 unique key analysis 491 external code lists 197 data quality concepts 413, 472–473, 488–489 see also FIBIM reference data model 213 data accessibility; data accuracy; data financial systems 153–154 completeness; data consistency; data relevance; function definition 80 data timeliness; data transact-ability; data validity governance charter 514 data integrity 469, 505–506, 508 logical data models 25, 332, 514 data profiling 492–493, 494 metadata management 332 functional dependency analysis 491 model quality 513 MIT TDQM 498 RDF 348, 349 monitoring function 497–498 referential analysis 491 processes 489–494 structural analysis 495 quality levels 253, 260, 263, 269 structuring techniques 241 referential analysis 491 workstreams 419 transaction lifecycle 253 data obfuscation 444 data quality, costs/benefits 497 data objects, referential analysis 491 data quality indicators (business metadata) 341 data operations, types of 221–223 Data Quality Leader 477 data ownership 437, 440, 477, 502 data quality measures data security 444, 502, 506 data creation & update 488 data stewards 477 data dictionaries 489 Information Asset Profiling 502 data integration 489, 513 IT data owner 485 data lifecycle stages 488–489, 497, 512–513 responsibilities 512 data presentation/models 489 system audits 461 metadata repositories 489 data privacy see privacy requirements Data Quality Rulebook 26 data processing 51–52, 224–225, 229–236 see also data quality, stakeholder requirements 253 processing power data, reformatting 258 risk analytics 220–225, 230–231 data registries, distributed networks 150 data profiling 490 see also data quality; data validity data relationships see also cross-referencing assertion testing 493–494 analysing 495–496 attribute analysis 490–491 completeness 513 column property analysis 495 legal entity hierarchies 54–55 data quality processes 492–493 modeling 154, 303 data relationship analysis 495–496 relationship metadata 342 domain analysis 496 data relevance (data quality dimension), data models Information Asset Profiling 466, 509 489, 513 metadata, impact on 494–495 data representation standards 167–177 see also new rules/relationships 492–493 character data standards; character sets; numeric structural analysis 495 data standards using the results 496–497 data retrieval performance 343 visual inspection 494 data reuse/sharing see also data modeling concepts; data protection 372–374, 469–471, 470 data vendors data provenance 277 current environment 147–148 Data Provider (attribute) 76 customer metadata (examples) 423, 472, data purging 458 483–484 data quality (reference data & analytic data stores) data governance program 472–473 cleansing data sources 258, 266 pricing portfolio table 344 cleansing techniques 257, 293–294 risk metrics 423 data store tests 420–421 shared data structures 495 data vendors 16 data risk mitigationdata management and associated “dirty data” 293–294, 440–441 entries golden copy database 71, 73, 82 data risks (data asset risks) KPIs 267–269, 272–273, 497–498 managing 468–471 liability for 274 MERS example 116–118 plausibility checks 267 risk environment, defining 503–505 priority data items 265 data screening 265 quality analysis 419 data security 356 see also confidentiality; encryption

530 Index

data security (cont.) data stores/collections see also data marts; data silo costs/benefits 357 issues; data warehouses; database entries; golden current environment 375–376 copy database; Master Data; Reference Data; data asset valuations 507 relational databases data containers 503–505 consolidated 73 data integrity 469, 505–506, 508 data ownership 511 data loss prevention 378 FRA ecosystem 446 data obfuscation 444 operational 262 Data Protection Directive (EU) 372–374 options 262 data states 377–378 spread-marts 443 dependent datamarts 417 types 417–418, 436 digital signatures 376–377 data streaming 256, 293 FISMA 360–361, 505–506 data structures see also arrays; data modeling concepts; GLB Act 369 data models Information Asset Profiling 505–506 dimensionality 291 ISO 27002 information security 361–362 documents 292 ISO TC68 SC2 financial security 166 hierarchies 245, 292, 304 levels 413 mortgage loans 86–99 management 362 structural analysis (data profiling) 495 objectives 507 tables 289 operations management 444 types 292 outsourcing 430 data structuring techniques 240–248, 241 see also data Safe Harbor Principles 374 modeling concepts; logical data models Security Policy 362 data timeliness (data quality dimension) 489, 513 specificity 506 current environment 224 system audits 461 data integration 489, 513 types of 362 supply chains 263 US government requirements 358–362 data transact-ability (data quality dimension), data data sets presentation/data models 513 data cubes 302–303 data transfer 230–231 see also data interchange data models 412 standards; data loading; Extract-Transform-Load dimensionality 291 tools generating 223 information architecture 72 metadata management 329 mortgage loans 99–114 relating datasets 222, 241 data transfer methods 255 structures & visualisation 292 data transformation 263–265, textual 290 420–421, 423 data sharing see data reuse/sharing data type analysis (attributes) 491 data silo, definition 61 data, types of 288–294 data silo issues data validity (data quality dimension) current environment 51, 65, 66 examples 260 data definitions 480 assertion testing 493–494 data flows 270 column property analysis 495 data governance 270, 480, 480 data creation & update 488, 513 enterprise models 60 data loading 440–441 legacy systems 61, 270, 271 data profiling 492–493 risk management 219 data relationship analysis 495–496 user control 271 new rules/relationships 492–493 data standardization semantic 266 current environment 148–149 visual inspection 494 numeric data 173–177 data vendors 16 see also service providers; specific problems 24–26 data vendors Zachman Framework 145–146 aggregation 255–257 data states, definition 377–378 corporate actions 70 data, static 91, 194, 293, 434 data consumption tools 274 data stewards 477, 512 lists of 79, 83–84, 91 data stewardship 413, 419, mortgage loans 92 477, 512 Property metadata 93 data storage technology proprietary security IDs 187 current environment 233–234 regulation 17 improvements 232–234 REMIC-SPVs 112

Index 531

SEC 16 derivatives see also CDOs; credit default swaps; futures Security Master 68, 71 contracts; options; over-the-counter (OTC) super-aggregators 257 derivatives; securities; securitization; swap tool evaluations 413 agreements types of 14–15 derivatives data providers 78 utilities 257–258 interest rate swap, definition 28n71 data volumes, operating parameters 343 derived data see calculated data data vs. information, definition 227 design phases, definitions data warehouses see also data stores/collections agile software development 426–427 data governance funding 473 analysis & design stage 410, 413 data ownership 511 analysis phase (detailed) 407–409, definitions 245, 262, 434–435 414, 419 FRA ecosystem 436, 446 analytic system design 228–229 Data Warehousing Institute 485 applications design 341 database concepts see also data stores/collections; business processes 143, 151 golden copy database; Master Data; relational conceptual design 410–415 databases database design 154, 336–339 database views 336–339 FRAT programs 406, 410–415, 413 normalization 338 infrastructure design 228–229 reporting databases 262 metadata management 336–339, 341 database design 154, 336–339 system design 228–229 databases, FRA ecosystem 436, 446 visual design 291 databases, summary information 342 desktop environment 317, 433, 445–446 datamarts 245, 435 development & testing 415–421 data ownership 511 DFA see Dodd–Frank Act FRA ecosystem 436, 446 Digital Object Identifier (DOI) standard types of 417, 418 (ISO 26324) 215 Dataquick 93 digital signatures 376–377 datasets see data sets Dilla, W. 282, 283 Date Added (legal entity attribute) 58–59 dimensions, concepts (data dimensions) date/time formats arrays 300, 302–303 Excel 174 attributes 302 internal/external 174 data modeling 244 ISO 8601 175 data sets 291 metadata management 332 dimension reduction 291 time series data 290 high-dimensional data 289, 302–303 Davis, Mark (Apple) 171–172 multidimensional databases 247 DAWG (RDF Data Access Working Group) 348 multidimensional scaling 290, 291 Dayal, U. 302 directed graphs 303 DBRS Ltd. 14–15 directory files, data structures 292 DCE (Distributed Computing Environment) 375 see disaster recovery see also business continuity, risk also distributed computing management dealer markets, transaction venue 156 information assurance 470 Dean, Alan (HSBC) 198–199 operations management 445, 461–462 On the Death of Visualization 280 planning 48 debt instruments, ISIN numbers 185 testing 447 debts, credit rating distinctions 14 disclosures see also privacy requirements debts, international, visual analysis 319, 319–320 bad data 87 DEC VAX 206 FCRA Act 366 decision-making process 287–288, 423 GLB Act, privacy 367 decision support systems (DSS) 244, 435 disk I/O deeds of trust 113, 113–114, 119, 120 see also definition 223 California; property recording reduction techniques 240–248 “deep analytics” 435 distributed computing see also cloud computinginternet default risk 28n70, 44, 100 see also credit default swaps entries; networks; www Delaware state laws 29 current environment 358 delivery, data see data loading networks 150 Denis, D.J. 295, 297 synchronisation 473 dependent variables, definition 291–292 UUID 375 depositories (financial), definition 15–16, 17 Distributed Computing Environment (DCE) 375 see Depository Trust & Clearing Corporation see DTCC also distributed computing

532 Index

distribution (data) dual keying, current environment 60 function definition 80 Dun & Bradstreet 58–59, 68, 192 master data 260, 262 Dunn & Spatt 88 options 274–276 Dwyer, T. 284, 289 tracking 274 dynamic data, vs. static data structures 194 distributional analysis, visualizations 292–293 dynamics of data, definition 293 “dividend” (corporate action), definition 69 DM-(industry standard logical data model) 514 E-Government Act 360 DMM (Data Management Maturity Model) 26, 60, 75 Eades, P. 284 document interchange standards 179–180, 179–181 Eagan, J. 288 documentation earned value analysis (EVA) 400 agile software development 426–427 ease-of-use 229 service level agreements 438–439 EBCDIC character set 170–173, 172, 259 documentation & information standard (ISO TC46) 215 EC (European Commission), identification standards 181 documents EC/EU (European Community/Union), Data Protection data structures 292 372–374 interchange standards 179–181 ECB (European Central Bank) metadata 290 standards 214 types of 289–290 visual analyses 283 unstructured data 246 ECMA (European Computer Manufacturer’s XML/RDF 349 Association) 180 Dodd–Frank Act (DFA) 17 ECNs (electronic communications networks) 156 see vs. Basel III 30 also networks CFPB 20–21 economic value of data 465 CFTC 20 ECPA (Electronic Communications Privacy Act) EFTA Act 364 362–363 fiduciary duties 29–30 edges (graphs) 303 Fiduciary Standard 29 EDM see Enterprise Data Management global financial crisis 17 EDM Council 26 Living Wills 28 benchmarking 75 OFR 20 CFI ISO 10962 194 OTC Derivatives 28 data governance 63 SEC 29–30 FIBO/semantics 213 SIFMA 23 OMG 165 systemic risk 27 efficiency, supply chains 270–272, 277–278 terms & regulations 27–30 EFTA (Electronic Funds Transfer Act) 363–364 Volcker Rule 27 EFTPOS (Electronic Funds Transfer at Point Of Sale) DOI (Digital Object Identifier) standard 12n14 (ISO 26324) 215 Egan-Jones Rating Company 14–15 DOL (Labor Department), fiduciaries 29–30 Eick, S.G. 282 domain (systems) 153 electricity, computer limitations 230 domain analysis (data attributes) 491, 496 Electronic Communications Networks (ECNs) 156 see domain names (internet domains) 164 also networks dot-com companies 239 Electronic Communications Privacy Act (ECPA) Dow Jones Factivia 193 362–363 down-time 447 Electronic Freedom of Information Act 367 Downing, C. 88, 101 Electronic Funds Transfer Act (EFTA) 363–364 “downstream data starvation” 48 Electronic Funds Transfer at Point Of Sale (EFTPOS) “drill down,” techniques 12n14 interaction techniques 308 email data “semantic zooming” 317–318 analyzing 289–290 treemaps 304–305 data description 289–290 visualizations 290 data interchange standards 173 drivers, trade & position data 81–82 disaster recovery 445 DSS (Decision Support Systems) 244, 435 ECPA Act 362 DTCC (Depository Trust & Clearing Corporation) front office transactions 51 definitions 15, 79 operational risk assessments 246 DTCPA code 193 proprietary data 246, 258, 263 instrument codes 194 emerging markets, pricing data 78 ISO 20022/XBRL 210–212 employee data, definition 36 DTCPA code (DTCC participant account) 193 employee owned devices 217, 358

Index 533

Employee Retirement Income Security Act (ERISA) ETL see Extract-Transform-Load tools 29–30 ETrade 9–10 encoding, financial data see also character data EU Repos (service provider) 78 standards; character sets; numeric data standards Europe, sovereign debt 319 Base64 encoding 173 European banks, Basel Accords 30 binary encoding (copy) 168, 171, 173, 173–174 European banks, Basel II compliance, cost of 387 Unicode (ISO 10646) 172 European Central Bank, SDMX standard 197 encryption 166, 375, 378–379, 444 European Community/Union (EC/EU) (regulation), end dating 70 Data Protection 372–374 end-to-end performance 449 European Computer Manufacturer’s Association endianness 172, 174 (ECMA) 180 energy markets 22, 78, 79, 142 European Government Bonds 78 enhancements 454 European Securities & Markets Authority ENIAC computer 230 (ESMA) 214 Enron, scandal 212 European Union (EU), Data Protection 372–374 enterprise architecture 143, 144–145 see also Eurostat, SDMX standard 197 information architecture EVA (earned value analysis) 400 Enterprise Architecture Planning 144 evaluations, loan 44–45 enterprise data governance see data governance evaluations, vendor-tool 413 Enterprise Data Management (EDM) see also data evaluations, visual analysis techniques 309–310 governance; data management; metadata event types 69, 70 management evolution of technology 143–144, 231–232 costs/benefits 74–75 Excel spreadsheets (Microsoft) data field mapping 81 BI tools 433 data governance 474, 509–516 calculation layer 227 DMM 26, 75 data interchange standards 178–179 instrument codes 194 date & time representation 174 management strategies 151 documents 412 organizational frameworks 143–146 as visual analysis input 288 services/solutions 83, 83–84 workbooks 316 structural analysis 495 exchange codes see MIC codes Enterprise DM (industry standard logical exchange metadata 36 data model) 514 exchanges see also currencies entries; foreign exchange entities (data modeling), definition 154 (FX) market entities (IT networks) 150 credit default swaps 28 Entitlement Processing 16n30 Interactive Financial eXchange 163 “Entity Data” (legal organizational structures), London Stock Exchange 186, 188 definition 36, 38 see also Legal Entity entries NASDAQ 79 entity to entity relationships (legal entities) 38, 48–49 NYSE 15, 16, 79, 153 entity types (data modeling) 154, 472 stock exchanges 15 uniqueness 154 transaction venue 156 Entrust (security software) 376 Expectation Maximization Algorithm 265 Equal Credit Opportunity Act (ECOA) 364 expense, funds transfer 45 equities data see also stocks exposures, positions data 81 FIX Protocol 202, 206 eXtensible Business Reporting Language see XBRL ISIN codes (ISO 6166) 185 standard missing values 265 eXtensible HTML (XHTML) 180 reference data sources 212 eXtensible Markup Language see XML standards service providers 79 external code lists, standards 194–198 ticker symbols 184–187 external credit ratings, loan decisions 44 equity, private, 27 Extract-Transform-Load tools (ETL) ERISA (Employee Retirement Income Security Act) and data quality rules 497 29–30 definitions 244, 259, 275, 419 errors (data) see also data validity vs. Hadoop 246 data profiling results 496–497 extreme programming 426–427 detection & correction 440–441 domain analysis (attributes) 496 F10 422 missing values 265, 265–267 Fair Credit Reporting Act (FCRA) 357, 365–366, errors (software) 454 367, 368 ESMA (European Securities & Markets Authority) 214 fair value, FASB hierarchy 96n8 Essential Guide to Standards 158 false pretenses, GLB Act 369–370

534 Index

Fannie Mae (Federal National Mortgage Association/ filtering data see data; filtering FNMA) finance industry see also insurance industry data transfer 99 current environment 149–151 FNMA Act 13–14, 106 financial services 147–149 global financial crisis 31–32 markets framework 151–154 MBSs 100, 102 structure 7–9, 26–27 MERS 114 supply chain overview 146–157 prospectus posting 107 trade lifecycle 154–157 regulation 20 Financial Accounting Standards Board see FASB Securities Act 106 financial classification schemes, metadata see also Farm Credit System 13–14 dimensions, concepts; financial metadata, codes & FASB (Financial Accounting Standards Board), fair keys; identification schemes value hierarchy 96n8 asset classes 77 FCRA (Fair Credit Reporting Act) 357, 365–366, bank departments 46 367, 368 business areas 253 FDIC (Federal Deposit Insurance Corporation) capital markets organizations 152 commercial banks 17 corporate actions 67 Privacy of Consumer Financial Information 365 counterparty types purpose 18 credit rating types 44 FDS code 193 debt investment grades 14 FDTF (Financial Domain Task Force) 165 dimensionality 291 Federal agencies, RFPA Act 370–371 document attachments 290 Federal banking agencies 368 document types 289–290 Federal Deposit Insurance Corporation see FDIC FI functions & layers 182 Federal Energy Resources Commission (FERC) 22 firms 155 Federal Home Loan Banks 13–14, 20 geographical location 93 Federal Home Loan Mortgage Corporation see graph types 303 Freddie Mac grouping process 154 Federal Home Loan Mortgage Corporation (FHLMC) instruments 113, 166, 184–185, 189–194, 194 see Freddie Mac interoperability stack 142–143 Federal Housing Finance Agency see FHFA legal entity types 56–58 Federal Information Security Management Act mortgage loans 91 (FISMA) 360–361, 505–506 portfolio types 94–96 Federal National Mortgage Association (FNMA) see pricing data 76 Fannie Mae project costs 391 Federal Register, Privacy Act 370 project risk types 401 Federal Reserve Banks see FRBanks risk types 45 Federal Reserve Board see FRB securities 155 Federal Reserve Discount Window 9n5, 9 stakeholders 394 Federal Reserve Governor, data standards 56 trade & position data 82–83 Federal Reserve System see FRS trade types 155 Federal Trade Commission 366, 368 transaction venues 155, 156 federated data management 274 transactions 36–37 Feiner, S. 287 treemap levels 304 FERC (Federal Energy Resources Commission) 22 user types 253 Few, S. 319 financial contract metadata (residential mortgages) FHFA (Federal Housing Finance Agency) 20 origination data 91–94 house price indices 93 recording rules 113 FHLMC see Freddie Mac typical data fields 95 FIs see financial institution entries financial contract metadata (securities) 155 FIBIM (Financial Instrument Business Information Financial Crimes Enforcement Network Model) (ISO 19312) 213 (FinCEN) 372 FIBO (Financial Information Business Ontology) 213 financial data & information gaps see also gaps entries, FICO (Fair Isaac Corporation), FICO score 91 data gaps analysis 409 413, Fidelity Investments 206 financial data content standards see also financial fiduciary duties, Dodd–Frank Act 29–30, 29 classification schemes, metadata; financial field level (data) see attributes; column property metadata, codes & keys; identification schemes; analysis (fields/attributes); domain analysis Legal Entity Identifiers FIID code (Fitch Issuer ID) 14–15, 67, 190 financial data content standards, definition 166–167 file transfer see data interchange standards; data loading; financial data interchange standards see data data transfer; Extract-Transform-Load tools interchange standards

Index 535

financial data, lifecycles 488–489, 497, 512–513 property recording statutes 116 code lists 195 proprietary IT standards 158–159 mortgage loans 94–96 reference data 212–213 pricing data 76 securities 155, 165–166 Security Master 68–70, 73 Securities Litigation Uniform Standards Act 22 transactions 253 Security Master 212–213 financial data, qualities of, sensitivity 357–358 SPARQL 350 financial data representation (encoding) see character spreadsheets 178–179 see also Microsoft Excel data standards; character sets; numeric data supply chains 255 standards systemic risk analysis 214 Base64 encoding 173 types of standard 141–143 binary encoding (copy) 168, 171, 173, 173–174 US government requirements 358–362 Unicode (ISO 10646) 172 UUID 374–375 financial data, sourcing 226, 252, 254–255 see also Zachman Framework 145–146 data vendors financial data standards, specific see also ISO entries; business continuity 258 network protocols; XBRL standard; XML cleansing sourced data 258, 266 standards data quality 490 character sets (ISO/IEC 8859) delivery types 274 date/time formats, ISO 8601 175 matching 259 Digital Object Identifier (ISO 26324) 215 new sources 277 FIBIM information model (ISO 19312) 148–149, 213 public/private supply 263 financial services (ISO TC68) 165–166 techniques 258 FIXML standard 25–26 from a vendor 258 Good-Delivery Guidelines (TBA-MBAs) 101 financial data standards see also character data information & documentation (ISO TC46) 215 standards; data governance; data interchange information security (ISO 27002) 361–362 standards; financial data standards, specific; LEIs (ISO 17442) 24, 165, 188, 193 financial metadata, codes & keys; Financial metadata registry (ISO 11179) 347 Services Messaging; ISO entries; network Microsoft Office Open XML (OOXML) 180 protocols; standardization process; standards; Open Protocol Enabling Risk Aggregation standards, investors in (OPERA) 179 Accredited Standards Committee 25, 162 PDFs (ISO 32000–1) 179–180 business models 213 Public Key Infra (X.509) 375 concordances 189 SDMX standard (ISO 17369) 197, 197 contracts 155 securities/SWIFT messaging (ISO 15022) 70, 166, corporate actions 70 194, 199–200 currency 140–141, 166, 181, 181 SGML standard (ISO 8879) (copy) 165, 180 current environment 138–139, 147–149, 148–149 ticker symbols 184–187 data governance standards 476, 478 Unicode (ISO 10646) 171–172, 172 data interchange 177–179 financial data vendors see data vendors data naming standards 479 financial derivatives see derivatives entries Data Protection Directive (EU) 372–374 Financial Domain Task Force (FDTF) 165 Data Quality (EDM) 75 financial holding companies, definition 38 data representation 167–177 Financial Industry Regulatory Authority see FINRA disclosure vs. transparency 87 Financial Information Business Ontology (FIBO) 213 document interchange 179–180, 179–181 Financial Information Exchange Protocol see FIX financial technology 198–212 Protocol future plans 213–215 financial institutions (FIs) see also counterparties; global codes 181–182, 374–375 functional models; legal entities history 140–141 buy-side 9, 10–11, 155, 206 horizontal technologies 139, 164–165, 215–218 counterparty types 56 horizontal vs. vertical 139 interactions 7–9 identification schemes 180–181, 180–189, 183 legal entity types 56–58 importance of 138 organization layer 273 information security management 361–362 sell-side 9, 9–10, 155, 206 instruments 155, 189–194 financial instrument identification, current environment interoperability 142–143 182–184 numeric data 173–177 financial instrument metadata (capital markets) Open Systems Interconnection (ISO-OSI) 160 154–154 see also financial contract metadata payments 165, 165–166 identification schemes 24, 74, 155, 182–188, 259 private networks 151 product data 36

536 Index

financial instrument metadata (capital markets) (cont.) country codes ISO 3166 181–182, 182, 184, 194 tolerance settings 267 CPLID code 192 trade & position data 82–83 Credit Identifier 58–59 unique identifier 74 currency codes (ISO 4217) 166, 181, 194–195 financial instruments see also financial instrument CUSIP Avox ID 192 metadata; securities CUSIP codes 58–59, 74, 102–104, 186, 187 CFI codes (ISO 10962) 166, 189 DTCPA code 193 classification errors 56 EIN number 58–59 classification standards 189–194 external code list standards 194–198 code list models 197 external code lists 197 ECB 214 FDS code 193 FIBIM information model (ISO 19312) 148–149, 213 FIID code 190 ISIN codes (ISO 6166) 166, 184–185, 257 FIID ID 14–15, 67, 190 ISO TC68 financial services 165–166 FINID code 190 matching data sources 259 FRN number 190 registration 214 GUID (globally unique identifier) 374–375 related instruments 264 GVKEY code 192 financial instruments, property recording IBAN code (ISO 13616) 58–59, 166, 193 interest in real property 119 ICANN corporation 164 leading instrument 119, 120, 127 instrument codes 194, 197 financial intermediaries 15–16, 148–149, 155, 252 IRC code 29–30 financial markets see capital markets entries; market ISIN codes (ISO 6166) 166, 184–185, 194, 257 entries MIC codes (ISO 10383) 166, 182–183, 183, 187 financial metadata see client metadata; contract MIN number 190 metadata; counterparty metadata; customer MPID code 193 metadata; employee data; financial classification NAICS code 56, 58–59 schemes, metadata; financial instrument metadata; NSIN number 184, 184, 186 financial metadata, code & key management; PID code 190 financial metadata, codes & keys; financial PIN number 166 product metadata; financial transaction metadata; RED code 191 firm metadata; golden copy database; Legal entity region codes, global, ISO 3166 181–182 metadata; Legal Entity reference data; master data; RFID (radio-frequency) 465 portfolio metadata; price metadata; pricing RIC code 58–59, 187, 189 reference data; process metadata; property S&Ps security ID 187 metadata; Security Master; underwriting SEDOL code 58–59, 186 characteristics metadata SIC code 56, 58–59 financial metadata, code & key management see also SSN number 442 identification schemes SWIFT code 58–59 ANNA association 184, 257 UKREG number 190 code list, lifecycle 195 Uniform Commercial Code 116 code list standards 166–167, 181–182, 194–198 UUID 374–375 NNA agency 184, 257 VALOR code 186 financial metadata, codes & keys see also financial WKN code 186 classification schemes, metadata; identification ZC (Zengin Code) 190 schemes zip code 91 fundamental codes 180–189, 374–375 financial metadata standards APN number 93 logical data model 514 asset type 74 metadata management 332–333, 347 AVID code 192 financial penalties 448 BBAN 193 Financial Privacy Rule 367, 368 BBCID code 193 Financial Products Markup Language see FpML BBGID security ID 187 Financial Services Messaging (ISO 20022) 201–206 BBUD security ID 187 business model 213 BIC codes (ISO 9362) 58–59, 166, 189, 190 corporate actions 210–212 CABRE code 192 FIXML 207 CFI codes (ISO 10962) 166, 189 future direction 215 CIB code 190 information architecture 72 CICI code 190 investment roadmap 199 CICI interim LEI code 190 messaging 213 CLIP security ID 187 payment initiation 202 CNPJ (Brazil) 190 semantic layer 215

Index 537

XBRL alignment 210–212 Form 8010–9, 8010–1(SAR) 371–372 Financial Services Modernization Act 367 FpML (Financial Products Markup Language) 163, Financial Stability Board see FSB 164–165, 210 Financial Stability Oversight Council see FSOC external code lists 195–197 financial statements, ALLLs 96–99 instrument codes 194 financial systems, current environment 149–151, Investment Roadmap 199 251–252 SCG 220 financial product metadata (functional model) 36, 40 FRA ecosystem (financial & risk analytic ecosystem), financial transaction metadata 154–154, 343, 343–344 components 433 FinCEN (Financial Crimes Enforcement Network) 372 FRA “system,” definition 449 FinCEN Forms 371–372 France finiancial services standards, future 213–215 CIB code 190 FINID code 190 national security identifier 186 FINRA (Financial Industry Regulatory Authority) sovereign debt exposure 320 21–22 FRAT program, components 389–403 MPID code 193 FRAT programs, activity descriptions 388–389 see also MSRB 22 implementation strategies regulators 17 analytic tools, reusing 418–419 TRACE data 78, 189 analytics 417–420 wholesale banks 12–13 application projects 415–416 FinViz (Smartmoney) 283, 305 architecture, current 406, 408, 414 FINXML data format 81 business needs analysis 407 FIPS Publications 358, 359, 507 business processes, current 406, 407, 414 firewalls 378, 440–441 Business Vision workstream 406, 414 firm metadata (capital markets) 154–154 conceptual system design 410–415 firm offer, definition 12n18–13n18 COTS Applications workstream 406, 416 firms, types of 155 current state analysis 406, 407, 408, 414 First American Title Insurance Corporation 114 detailed analysis phase 407–409, 414, 419 Fisher, B. 281 development & testing 415–421 FISMA (Federal Information Security Management dynamic implementation 406, 422–425 Act) 360–361, 505–506 future business architecture 406, 410, 414 Fitch, Inc. 14–15, 67, 190 Go-Live workstream 406, 422 Fitch Issuer ID (FIID code) 14–15, 67, 190 information architecture workstream 406, 419 FIX Protocol 25–26, 81, 155, 202, 206–207 infrastructure implementation 416 FIX Protocol Limited (FPL) 163, 194, 198–199, 202 iterative development 425–427 fixed income data prototyping 404 FIX Protocol 206 on-site/off-shore model 429 pricing data providers 78–79 solution architecture 410, 410–411, 413–415 reference data providers 212 testing applications 420–421 service providers 78, 79 training 399–400 visual analysis 288, 315–319 vendor-tools, evaluating 413 FIXML standard 25–26, 139, 164–165, 165, 207 FRAT programs, activity planning see also design Florey, K. J. 116 phases, definitions; implementation strategies Florida, property recording 116, 119, 127–130 activity overlaps 414 flows of data & information see cash-flows; data flows; analysis & design stage 410, 413 functional models; process flow management; construction stage 413, 415–421 supply chains; transaction flows dependencies 421 FNMA see Fannie Mae implementation strategies 406, 416, 421–422 Focus+Context 290 implementation timescales 388 FOMC (Federal Open Market Committee) 18 initial phase 414 Foreign Bank & Financial Accounts 371–372 integrated execution plan 406, 413–415 foreign exchange (FX) market iterative development 425–427 derived data 264 operationalization 406, 413, 417, 422 FIX Protocol 206 phases 406 options 77 project risks 401 pricing data 77, 78 prototyping (copy) 404 scaling prices 264 stages 413–415 spot transactions 78 testing 421 visual analysis 288 waterfall model 403–404, 414, 416–417, foreign nationals, non-resident 367 425–426 Form 90–22.47 (FBAR) 371–372 workstreams 389, 390–391, 403–425

538 Index

FRAT programs, management 389–391 see also Friedman, M. 312 operations management Friendly, M.L. 295, 297 budgets 400–401 front-office systems building commitment 398–399 vs. back office 152–153 business case 391–392 functions & processes 34 challenges 388–389 OLTP 244 change management 398–400, 406, 422–425 resources 87, 152–153 communication management 394–396, 399 securities, order processing 51–52 contingencies 402 typical functions 60 costing projects 404, 414 FRS (Federal Reserve System/“the Fed”), purpose data management 412–413, 413–415 18–19 “earned value analysis” 400 FS messaging (ISO 20022) see Financial Services financial management 400, 400–401 Messaging independent projects 416–417 FSB (Financial Stability Board), LEI code 193 vs. IT projects 388 FSOC (Financial Stability Oversight Council) see also non-data warehouse projects 415–417 OFR, purpose 19 operations management 457 function oriented data collections 434 prioritising projects 424 functional analysis 47, 491 program complexity & uncertainty 389 functional models see also risk management program components 389–403 functional models (for financial data & risk program risk, regulatory rules 402 information) 35–42 see also business processes; progress monitoring 395–397 process descriptions; process flow management; resourcing 427–430 supply chains; transaction flows risk management 401–403, 415, 426–427 “Acme Bank,” processing steps 42–46 scope creep 402 “Acme Financial” 38–42, 47 specificity vs. time 408 “Acme Holdings” 38–42 stakeholder management 392–394 functional overview 33–34 steering committee 392–393, 394 infrastructure layer 37–42 FRAT programs, staffing 427–429 see also human organization layer 33–34, 36, 40 resources; operations management purpose of the model 46 change management 398 scope of the model 33, 38 PM Office 390, 394 transaction layer 36–37, 40–42, 47 program managers 389, 394 uses of functional models 48 project managers 390, 394 functional tests, analytic data 420–421 skills & knowledge 74 fund managers 10–11, 284 workstreams 390–391 funds (legal entity type) 29n76, 56–58 fraud risk funds transfer (“Acme Bank”)45 credit cards, risk limits 221 future business architecture 406, 410, 414 false pretenses 369–370 futures contracts 29n76 GLB Act 369–370 identifiers 187 mis-pricing 76 futures trading, FIX Protocol 206 node-link diagrams 304 visual analysis and InfoVis 285 G20 (Group of Twenty), LEIs 182–188 FRB (Federal Reserve Board) Gallis, H. 308 EFTA Act 364 GAO (Government Accountability Office) 20 FRS 18 gaps analysis, business process 406, 407 see also data FRBanks (Federal Reserve Banks) gaps analysis commercial banks 17 gaps, back & front office resources 87, 152–153 locations 18n35 gaps, in data & information see financial data & Freddie Mac (FHLMC/Federal Home Loan Mortgage information gaps Corporation) 13–14, 106 gaps, financial data & information see financial data & data transfer 99 information gaps global financial crisis 31–32 gaps, human knowledge 74 MERS 114 gaps, mortgage/MBS systems capacity 85 mortgage loan data 92 Garratt, R.J. 285 mortgage-performance data 95, 98 Gartner Research 465 Participation Certificates 100, 102 GDP, node-link diagrams 303 prospectus posting 107 General Ledger (G/L), nature of 42, 433 regulation 20 generic models see data modeling concepts; Securities Act 106 data models; financial metadata; functional Freedom of Information Act (FOIA) 367 models

Index 539

Genericode 195–197, 197 line graphs 295 Germany network graphs 303–304 national security identifier 186 node-link diagrams 303 sovereign debt exposure 320 RGraph 314 GFI (data vedor) 78 Gray, J. 302 Girardin, L. 289 Great Britain, NSIN code 186 see also United Kingdom Glass–Steagall Act 11, 367 Greece, visual analysis 320 GLB Act (Gramm–Leach–Bliley Act) 367–368, 368 grids 292 Glass–Steagall Act 11 Grinstein, G. 286 purpose 11 Group of Twenty see G20 global codes, standards 181–182, 374–375 see also GUID (globally unique identifier) 374–375 Legal Entity Identifiers Gunn, J. 283 global financial crisis, 2007-2009 GVKEY code 192 continuing crisis 85–86 Dodd–Frank Act 17 Hadoop system 240, 246 explanations 31–32 Hanrahan, P. 282 housing finance 31–32 Harary, F. 303 MBSs 85–86 hard-disk drives (HDD/disks) 233, 240–248 reference data standards 212 hardcopy, definition 256 subprime mortgages 86 hardware upgrades, operations management 459 global financial markets, current environment 149–151 Hayre, L. 88 global FRAT projects 388 HBase 247–248 global securities markets 23–24, 31 HDD/disks (hard-disk drives) 233, 240–248 global talent pool 429 Heartbeat graph (system performance) 450 globally unique identifier (GUID) 374–375 heatmaps 305 glyph plots, definition 297 hedge funds (private funds), OPERA standard 179 GNOME, UUID 375 hedging (investment risk reduction), interest rate swaps Goeller, John (FIXML) 207 28n71 golden copy database 63, 71 see also master data; help desk, FRA ecosystem 458 Master Data Management; reference data; help desks (call centers), definition 458 Security Master help files, data dictionaries 341 data lineage 262 Hendler, Jim 217 synonyms 73, 260 Hewlett-Packard (HP) 376 trade & position data 82 hexadecimal codes, ASCII Character set 168, 171 GoldenSource (service provider) 83 hierarchical data structures 245, 292, 304 Good-Delivery Guidelines (TBA-MBAs) 101 high-dimensional data 289, 302–303 Google, BigTable 247 high quality data 229 Google Finance (charting tool) 295 high value data 486–488 Government Accountability Office see GAO Hill, Steven C. 144 government sponsored enterprises (GSEs) 13–14 historical data see also static data default risk transfer 100 data warehouses 434 loan origination & performance data 103 visual analysis 293 loans 31–32 history mortgage data transfer 99–104 of ISO standards 159–160 REMIC prospectuses 103 of processing power/speed 230 government standards, financial security requirements of proprietary IT standards 158–159 358–362 of standards 140–141 governments, central (legal entity type), definition Hive (open source) 247 56–58 hold-for-sale/investment portfolio 95, 96, 105 GPS protocol 176 “holding company” 38 Gramm–Leach–Bliley Act see GLB Act Hollified, B. 86 granularity, visual analysis 290, 303, 308 Home Mortgage Disclosure Act 91 graphs see also 3D graphics; InfoVis; treemaps, homogeneity, MBSs 101 financial data; visual analysis of financial data Hong Kong SAR, Security Master operations 73 bullet graphs 319 horizontal technologies see also open systems circle graphs 295 evolution 152 graph structured data 245 identification methods 154 graph theory 303 RDBMS 156–157 graph types 303 standards 139, 164–165, 215–218 graphical representation 284 TCP/IP protocol 156–157 Heartbeat graph 450 and vertical stds 139

540 Index

horizontal technologies (cont.) authorization 374–375 W3C consortium 164–165 concordances 189 XML 164–165 contracts 155 hours of business see system availability current environment 180–181, 182–184 house-price indices 93 data relationships 54–55, 342 housing finance 13–14, 30–32 entities (data) 154 HP (Hewlett-Packard) 376 European Commission 181 HSBC bank USA 198–199 exchange codes 182–183 HTML (HyperText Markup Language) 164–165, 180 instruments 24, 74, 155, 182–188, Huizinga, H. 96 189–194, 259 human intelligence augmentation (IA) 286 interest rate swaps 259 human resources, deployment see also change markets 166, 182–183, 183, 187 management; FRAT programs, staffing; matching data sources 259 operations management metadata management 332 analytic users 423 mortgage loans 91, 92, 103, 112 analytical reasoning 286 multiple schemes 24 business metadata 486 open securities identifiers 188 Chief Data Officer 352, 475–476 processing identifiers 53 cultural change 399 securities 155, 187, 188 data governance, roles & staffing 474–478 security identifiers 68, 187 Data Quality Leader 477 standards 180–189 decision-making process 287–288 symbology 183 FRAT projects 389 identity management products 376 FRAT workstreams 390–391 identity theft 469 global talent pool 429 IEC (International Electrotechnical Commission) 158, intelligence augmentation 286 159, 161, 161 knowledge polarization 74 IEEE (Institute of Electrical & Electronics Engineers) metadata management 352, 486 144, 162, 280 multiple visualizations 317 Ieronutti, L. 284, 289, 302 “pair analytics” 308–309 IETF (Internet Engineering Task Force) 163–164, 164 skills & knowledge 74, 81 IFR Markets 79 technical metadata 335 illiquidity, definition 30–31, 31n82 training 399–400 Illuminating the Path 281 visual analysis 286 image files, encoding 173 visual perception & cognition 281–282, 320–321 IMF (International Monetary Fund), SDMX human/computer symbiosis 286 standard 197 Hunt, J. P. 85 impact assessments, security violations 507–509 hypercubes (3D graphics) 302 implementation strategies see also benchmarking entries; cloud computing; horizontal technologies; I/O input-output (IO) 223 information architectures; innovations; open reduction techniques 240–248 source solutions; open systems IA (information assurance) 469–471 COTS 406, 416 IA (intelligence augmentation) 286 current environment 150–151 IAB (Internet Architecture Board) 164 data access 262 IAP (Information Asset Profiling) 466, 509 data governance 269–276, 477–480, 515–516 IBAN code (ISO 13616) (International Bank Account DMM 26, 60, 75 Number) 58–59, 166, 193 dynamic 406, 422–425 IBM FRAT programs 406, 416, 421–422 Cognos (BI tool) 433 “implementation” phase 406 computer architectures 206 interoperability 142–143 identity management products 376 Legal Entity IT systems 60–65 proprietary standards 158–159 phased implementations 422 Zachman Framework 144 planning phases 406 ICAP BrokerTec (service provider) 78 pricing data service 79–81 ICAP EBS (service provider) 78 prioritising projects 424 ICT standards organizations 139, 159 procurement process 71 identification schemes 166–167, 180–189 see also prototyping 404, 473 financial classification schemes; financial roadmap (FRAT programs) 406, 422–425 metadata, codes & keys; Legal Entity Identifiers; Security Master service 71–75 Legal Entity Reference Data SLAs 439–440 authentication 374–375 speed 229

Index 541

supply chains 273–276 data architect 476 technology platforms 216–218 design 228–229 trade/position data service 82 implementation 406, 416 walled gardens 151 infrastructure layer 37–42, 42 incremental & iterative development (IID) 426 in-house application build 406, 416 independent variables, definition 291–292 Inmon, Bill 434–435 index structures, efficiency of 241 innovation (investment risk reduction) India, outsourcing to 429 FpML 210 Individual Retirement Accounts (IRA accounts) 30 pace of change 65, 210 InfiniBand 235 innovations (technological) see also 3D graphics; information & documentation standard (ISO TC46) 215 architectures; graphs; visual analysis of financial information animation technology, securities industry data 283 consumer-focus 150–151 information architectures 72, 408 see also innovations CPU design 231 blueprints, for planning 144, 514 current environment 65, 219, 229 business architecture, future 406, 410, 414 data storage 232–234 computer architectures 206 data structuring techniques 241 current environment 406, 408, 414 identification methods 154 data architecture principles 412, 513–514, 516–517 InfoVis 280–281, 282, 283–285, 308, 309–310 data management architecture, workstream 406 metadata technology 355 defense architectures 143–144 modern platforms 216–218 enterprise architecture 143, 144–145 technology platforms 216–218 FRAT workstream 406, 419 technology standards 164 IBM 206 web companies 239 internet architecture 144–145, 164 input devices, definition 230–231 networked architectures 143 Inselberg, A. 300 risk information architecture 225–229 Institute of Electrical & Electronics Engineers see IEEE service-oriented architecture 473 institutional ownership 197 see also data ownership shared-nothing architectures 238 institutions see financial institutions solution architecture 406, 410, 410–411, 413–415 instrument identification, current environment 182–184 TCP/IP protocol 160 instruments see financial instruments; securities TOGAF 144 insurance industry see also FDIC Word Wide Web 144 agents & brokers 34 Information Asset Profiling (IAP) 466, 509 see also DTCC 79 data profiling front office 34 information assurance (IA) 469–471 functional models 33, 38, 47 information asymmetries, mortgage applications 88, legal entity type 56 101 NCUSIF 21 information management see data governance; data regulation 15, 17 management; Data Management Maturity Model; transactions 36–37, 40, 47 data profiling FRAT program entries; information integration, data see data integration asset profiling; metadata management integration testing 421, 457 information overload see also filtering data; visual Intel Westmere chip 232 analysis of financial data Intellimatch 275 animations 283 interaction techniques, visual analysis 307–310 human reasoning 286 Interactive Data (provider) 83, 336, 349 interactive data reduction 290 interactive data views minimising display 317 3D graphics 284 multiple visualizations 317 SEC/XBRL 283 perception & cognition 320–321 Interactive Financial eXchange 163 information ownership see data ownership interconnectedness of FIs 7–9 see also central information supply chains see supply chains counterparties; contagion; counterparty risk; information value-added 258 systemic risk information vs. data 227, 255, 258 “interest in real property” 119, 120, 128 InfoVis (information visualization) 280–281 see also interest-rate swaps 28n71, 79, 259 3D graphics; graphs; visual analysis of financial intermediaries see financial intermediaries data Internal Revenue Code (IRC) 29–30 applications 283–285 International Bank Account Number (IBAN code/ evaluations, framework 309–310 ISO13616) 58–59, 166, 193 types 282, 308 international character data 170–171 infrastructure (IT) 474 international debt, visual analysis 319, 319–320

542 Index

International Electrotechnical Commission see IEC ISITC (International Securities Association for International Federation of the National Standardizing Institutional Trade Communication) 23–24, 194, Associations see ISA 199, 200 international financial information 84 ISMAG (International Securities Market Advisory International Monetary Fund see IMF Group) 194 International Organization for Standardization see ISO ISO (International Organization for Standardization) International Securities Association for Institutional 56, 158, 159–160, 161 Trade Communication see ISITC ISO 3166 country codes 181–182, 182, 184, 194 International Securities Exchange (ISE), MIC code 183 ISO 4217 currency codes 166, 181 International Securities Identification Numbers see ISO 6166, ISIN codes 166, 184–185, 257 ISIN codes ISO 8601, date/time 175 International Securities Market Advisory Group ISO 8879, SGML 180 (ISMAG) 194 ISO 9362, BIC code 58–59, 166, 189, 190 international standards bodies 159–161 see also ISO ISO 10383, MIC codes 166, 182–183, 183, 187 International Swaps & Derivatives Assoc (ISDA) 23, ISO 10646, Unicode 171–172, 172 211 ISO 10962, CFI codes 166, 189 International Telecommunications Union see ITU ISO 11179, metadata registry 347 Internet Architecture Board (IAB) 164 ISO 13616, IBAN code (International Bank Account internet banking, definition 12n15 Number) 58–59, 166, 193 Internet Engineering Task Force (IETF) 163–164, 164 ISO 15022 SWIFT messaging 70, 166, 194, 199–200 “Internet of Things” 217 ISO 17369, SDMX 197 Internet Research Task Force (IRTF) 164 ISO 17442, LEIs 188, 193 Internet Society (ISOC) 164 ISO 19312, FIBIM 148–149 internet style interaction 350 ISO 20022, Financial Services messaging see Financial internet technologies see also distributed computing; Services Messaging network protocols; networks ISO 20022 for Dummies 202 consumer technologies 152 ISO 26324, DOI (Digital Object Identifier) 215 distributed networks 150 ISO 27002 information security 361–362 enterprise architecture 144–145 ISO 32000–1, PDF (Adobe Portable Document metadata technologies 347–348 Format) 179–180 network cloud 152 ISO-OSI (Open Systems Interconnection) 160 standards organizations 163–164 ISO TC46 information & documentation 215 W3C consortium 164–165, 172, 348, 349, 350 ISO TC68 financial services 165–166, 199 www 144, 164–165, 216 ISO/IEC 8859 character sets 172 interoperability, definition 142–143 ISO/IEC 29500 Microsoft Office Open XML intra-day stock tick data, visual analysis 289 (OOXML) 180 inventory, data 352, 466 see also data profiling; ISOC (Internet Society) 164 Information Asset Profiling issues (requiring resolution) see also complexity issues; investment banking 11, 33 costs/benefits, data management; data accuracy investment company (legal entity type), definition issues; data interchange standards; data silo issues; 56–58 financial data & information gapsgaps entries; investment funds, heatmaps 305 language, use of; legal entities; Legal Entity investment grades, debts 14 Identifiers; MERS; scale, issues of; scope investment managers 10–11 management; standardization process functional models 33 corporate action events, standards 70 portfolio management 10 current financial services environment 24–26, 87, process deconstruction 47 147–149 Investment Roadmap, standards 198–199 data access speeds 233–234 IO I/O (input-output) 223 data asset risks 468–471 reduction techniques 240–248 data mapping/data formats 81 IPs (internet addresses) 164 data precision 50–51 IRC (Internal Revenue Code) 29–30 employee owned devices 217, 358 IRS Form 8300, security 372 FRAT programs 388–389, 390–391 IRTF (Internet Research Task Force) 164 frequently changing environments 410, 456 ISA (International Federation of the National overlapping standards 198–199 Standardizing Associations) 159 reusing legacy FRA components 418–419 ISDA (International Swaps & Derivatives Assoc) 23, “spread-mart” data & reports 443 211 standardization 24–26, 87 ISE (International Securities Exchange), MIC code 183 transaction timestamps, synchronization 162 ISIN codes (ISO 6166) 166, 184–185, 257 upgrades/releases of hardware & software 459

Index 543

IT concepts, classifications see also data modeling Kotter 398 concepts; data structures; design phases; KPIs see key performance indicators definitions KRIs (key risk indicators), visual analysis 320 analytic systems, types of 225–228 Kroll Bond Rating Agency 14–15 analytic tools, types of 418 Kubelec, C. 285, 303 change categories 454 KYC see Know Your Client character sets 172 data delivery types 274 Labor Department (DOL), fiduciaries 29–30 data processing components 223 Lamoureux, Bob (FIX protocol) 206 data security types 362 Landsmen, W. R. 96 data states 377–378 language, use of 75, 194–198, 472 see also semantic data stores 417–418, 436 models data types 194 languages, character sets 170–171 disasters (system) 461 latency, definition 228 drivers 81–82 Laux, C. 96 firewall levels 440–441 “Law of More” 454 FRAT program phases 406 leading instruments 119, 120, 127 information access 220 ledger vs. transactional data 42 InfoVis types 308 legacy systems, parallel running 422 metadata types 330–331 legal considerations, mortgage transfers 113–114 quality levels 253, 260, 263, 269 legal entities 36, 53–55 standards 139, 141–143 external code lists 197 systems 82, 220–221 identification schemes 188 testing phases 421 IT systems 60–65 visual analysis tools 311 ownership hierarchies 54–55, 68 visual metaphors for financial data 284 types of 56–58 visualization types 294–307 Legal Entity Identifiers (LEIs) Zachman Framework 145–146 benefits 56, 58 IT projects vs. FRATS 388 CICI interim code 190 IT support team, definition 72 current environment 24n54, 24, 180–181 IT systems, ownership 74 example data attributes 58–59 iterative development methods 425–427 ISO 17442 165, 188, 193 ITU (International Telecommunications Union) 158, Legal Entity metadata see also counterparty metadata; 159, 161, 375 interconnectedness of FIs additional attributes 58–59 Jaffee, D. 88, 101 complexity 76 Janvrin, D. 283 “entity data” 36 Japan mandatory attributes 58 Security Master operations 73 Legal Entity Reference Data 52–65 Zengin Code 190 Client On-Boarding 54 Japan Credit Rating Agency, Ltd. 14–15 data providers 83 JavaScript 314, 317–319 LE system implementation 60–65 Johannesburg Stock Exchange 183 matching data sources 259 Journal of Data and Information Quality (ACM) 498 operational & risk reporting 60 JP Morgan 210 Security Master 68 Jungmeister, W.A. 284, 288 Legal Entity Type (Legal Entity attribute), definition 56–58, 58–59 KDE (free software community) 375 legal ownership, counterparty risk 53 Keim, D.A. 305 Lehman Brothers failure, exposure report, effect of 260 Kelton, A.S. 283 Lei, S.T. 284, 295, 298 key performance indicators (KPIs) see also Leman, Jim (FIX protocol) 206 benchmarking entries Lemieux, V. 309–310 data quality 267–269, 272–273, 497–498, 512–513 Leuz, C. 96 data stewards 477 Levitin, A. J. 85, 114, 117 metadata management 267–269, 331 Lewis, C. 287 key risk indicators (KRIs), visual analysis 320 liabilities, as assets 10n6 keys see financial metadata, codes & keys liability transactions 37 Kingland Systems (service provider) 83 lien registration 91, 92, 117 Klein, P. 317 lifecycles, data see financial data; lifecycles Know Your Client (KYC) 54n5, 54, 55 line graphs, visual analysis 295 Kosslyn, S.M. 281 on-line transaction processing (OLTP) 244

544 Index

linguistic analysis 292 pricing data 78 Linux, UUID 375 RED code 191 liquidity, definition 30–31, 31n82 reference data 212 liquidity risk, positions data 81 security identifiers, proprietary 187 liquidity transactions 37 Security Master 68 “live feed” data, definition 293 see also real-time summary 79, 83 applications Markowitz, H.M 312 “living wills” 28, 48 masking data 444 load scheduler, definition 71 Mason, C. 281 load windows 441, 447 Massachusetts Institute of Technology (MIT), TDQM loading data see data loading 498 loan processing (“Acme Bank”)42–46 see also Massively Parallel Processing (MPPs) 238–240, mortgage loans 245 loan tracking, current environment 91 Master Data, definitions 66, 483 see also golden copy Loan Variable Disclosure 92, 95, 98 database; Reference Data; Security Master logical data models, current environment 25 see also Master Data Management (MDM) 413, 483–485 see data modeling concepts; data models also data governance; data management; metadata London, Security Master op support 73 management London Stock Exchange 186, 188 data governance funding 473 long-term fund performance, heatmaps 305 distribution methods 262 long-term roadmap 406 high-quality data 229 Lorensen, Bill 280, 281 metadata capture 517–519 loss given default (LGD), loan decisions 44 solution providers 83 low-impact/high-frequency events, risk response 221 matching data sources 259 LPS (Lender Processing Services) 16, 91 Matlab (visual analysis tool) 311 LUKS (Linux Unified Key Setup) 375 matrixes, data cubes 302–303 Lurie, N.H. 281 maturity date, end dating process 70 LXID security identifier 187 MBA (Mortgage Bankers Association) 114 MBSs see mortgage-backed securities M&A see mergers & acquisitions McCormick, B.H. et al. 280 Mac OS X 375 MDDL (Market Data Definition Language) 194, 212 machine-structured data, definition 246 MDM see Master Data Management Mahadea, L. 285 medieval trading 140 maintenance windows, definition 447 MEI security identifier 187 mandatory events, definition 69 memory see RAM Mansmann, S. 302 merchant bank, definition 13n23 manual processes “merger” (corporate action), definition 69 corporate actions 70 mergers & acquisitions (M&A) pricing data 79 acquisition, definition 69 Map of the Market (Smartmoney) 283, 304 data provenance 277 mapping data see data mapping data sensitivity 357 MapReduce (MPP technique) 240, 248 merger, definition 69 margin accounts, definition 9n4 Merill Lynch (retail brokerage) 10 markets entries see also capital markets entries MERS (Mortgage Electronic Registration System) market, all asset service providers 83 114–118 market analysis, pricing data 77–78 current environment 117 market commentary, real-time market prices 79 data risks 116–118 market data consistency, definition 267 effect on legal status of mortgage 85 market framework 151–154 property recording statutes 114 market identifier codes see MIC codes MERSCORP Inc 114 market making, definition 13n20 messaging see Financial Services Messaging market “map,” treemap visualization 304 metadata concepts 328–333, 413, 472–473, 495 see market metadata (capital markets) 333–334 also data modeling concepts Market Participant ID (MPID code) 193 attributes of metadata 518 market participants 155, 183 “business” metadata 330, 336, 341–342, 485 market prices see price entries; prices entries; pricing entity types 154, 472 entries logical models 332 MarketAxess 78 nature of 346–347 markets, global system 149–151 operational metadata 343, 343–344 markets, “supermarkets,” definition 12n16 “process” metadata 331, 342–343, 344 Markit (service provider) “technical” metadata 330, 333–335

Index 545

metadata management 351–353 see also data MIT (Massachusetts Institute of Technology), TDQM dictionaries; data profiling; financial classification 498 schemes, metadata; financial metadata; financial mobile devices 358, 379 see also consumer devices metadata, codes & keys; identification schemes; Model Form Rule (GLB Act) 367, 368–369 Information Asset Profiling; standards modeling data see data modeling concepts; data models access control 344–346 Monetary Instrument Log (MIL) 372 applications 329, 346, 351–352, 485 money laundering 54n5, 54, 55, 371 see also Bank business rules 341, 349 Secrecy Act capturing metadata 517–519 money market mutual funds, service providers 79 Chief Data Officer 352, 475–476 money markets (MM) 79, 155 costs/benefits 342, 346–347, 351 Monte Carlo simulation, data sets 223 current environment 354–355 Moody’s14–15, 67, 68, 73, 190 data governance 485–486 Moore’s law 236, 351 data quality 229 Morstatt, Chris (FIX protocol) 206 database design 336–339 mortgage assignment see property recording systems FRAT workstream 419 mortgage-backed securities (MBSs) see also mortgage ISO 11179 metadata registry 347 loans KPIs 267–269, 331, 497–498, 512–513 current environment 99 metadata capture 517–519 global financial crisis 31, 85–86 operational support 346 GSE supply chain 99–104 permissioning & entitlements 344–346 homogeneity 101 RDF 348, 349 interest in real property 119, 128 repositories 489 loan origination data 91 self-referral data tools 275 private-label supply chain 104–106 SPARQL 348, 349–351 REMIC 99–101 tagging 275 service providers 78, 79 technologies 347–351 TBA-MBS 79, 100–102 textual documents 290 Mortgage Bankers Association (MBA) 114 total cost of ownership 345–346 Mortgage Electronic Registration System see MERS W3C consortium 349 mortgage identifiers, current environment 91, 92, XML 207, 349 103, 112 MIC codes (market identifier) (ISO 10383) 166, mortgage loans see also MERS; mortgage-backed 182–183, 183, 187 securities; mortgage loans, data transfer; property microprocessors 216, 231–232 recording systems CPUs (central processing units) 216, 231–232 ALLLs 96–99 Microsoft application menus 86–90, 91 character data standards 170 application process 86, 86–90 documents 412 borrower behavior 88, 101 GUID 374–375 contract metadata 92, 95 identity management products 376 contracts 86, 113, 113–114 proprietary standards 158–159 data structures 86–99 RTF (Rich Text Format) 180 data vendors 92 Microsoft Access 443 global financial crisis 85–86 Microsoft Excel interest in real property 119, 128 BI tools 433 leading instrument 119, 127 calculation layer 227 loan identifiers 91, 92, 103, 112 data interchange standards 178–179 loan sponsors 105 date & time representation 174 mortgage-performance 94, 98 as VA input 288 origination metadata 91–94 workbooks 316 pool-level data 104 Microsoft Office Open XML (OOXML) 180 property recording 114–118 Microsoft PowerPoint 412 securitization 106–110 Microsoft Project 395 self-selection 88–90 Microsoft SharePoint 395, 460 TBA market 79, 100–102 Microsoft Word 180, 180 tracking process 91, 112 Microstrategy (BI tool) 433 wholesale rate schedules 86–88 middle office systems 34–35, 51–52, 60, 87, mortgage loans, data transfer 99–114 152–153 current environment 99 mis-pricing, failures & frauds 76 GSE supply chain 31–32, 99–104, 107 missing financial values, screening & repair 265, private-label supply chain 104–106, 107, 113, 114 265–267 REMIC data sources 102–104

546 Index

mortgage market, current environment 118 US Department of Defense 160 mortgage securities prospectus , current environment networks (computer) 235 see also distributed 109, 111 computinginternet entries; network protocols; MPID code (Market Participant ID) 193 www MPPs (Massively Parallel Processing) 238–240, bandwidth, definition 223 245 cloud 152 MSRB (Municipal Securities Rulemaking Board) 22 emergence 143 MTS (data vendor) 79 FRA ecosystem 446 multi-core chips, definition 232 “Internet of Things” 217 multi-cubes 284 technology 234–236 multi-cubes, financial data 284 walled gardens 151 multidimensional databases 247 New York Stock Exchange see NYSE multidimensional scaling 290, 291 Nietzschmann, T. 305 multigraphs, definition 303 NIST 159–160, 361 multi-processors, definition 232 NIST Special Report 800–53 358–359 multivariate analysis, visualizations 291–292, 300, 305 nominal (non-numeric) data 289–290 Munzner, T. 282, 284, 285, 286, 290, 291, 306, 307 non-fungible contracts, identifiers 187 Murty, U.S.R 303 non-MM funds (money market) 155 The Mythical Man-month 387 non-printable characters, ASCII character set 171 non-resident foreign nationals 367 NAICS (North American Industry Classification nonpublic personal information 365 System) 56, 58–59 normalization (normal form) 245, 329–330, NASDAQ stock exchange 79, 183 338 National Credit Union Administration Board North American Industry Classification System (NCUAB) 21, 368 (NAICS) 56, 58–59 National Credit Union Share Insurance Fund (NCUSIF) NoSQL technologies, definition 247 21 Novell (s/ware & services) 376 National Institute of Standards & Technology see NIST NRSROs (Nationally Recognized Statistical Rating national standards bodies 161–162 Organizations) 14–15 Nationally Recognized Statistical Rating Organizations NTP protocol 176 (NRSROs) 14–15 numeric data, types of 289 navigation techniques, interactive visual analysis 307 numeric data standards 173–177 navigational zooming, visualizations 290 NYSE (New York Stock Exchange) 15, 16, 79, NCUAB (National Credit Union Administration 153, 183 Board) 21, 368 NCUSIF (National Credit Union Share Insurance OASIS standards 164–165, 195–197 Fund) 21 Obama, President Barak, administration report 31–32 Network Byte Order 174 Object Management Group (OMG) 165, 213 network graphs 303–304 OCC (Office of the Comptroller of the Currency) 17, network protocols 235 19, 20, 371–372 equity securities 202, 206 commercial banks 17 Fidelity Investments 206 GAO 20 FIX Protocol 25–26, 81, 155, 202, 206–207 purpose 19 FIX Protocol Ltd 163, 194, 198–199, 202 Suspicious Activity Report (SAR) 371–372 fixed income 206 OECD ( Economic Co-operation) 373 foreign exchange 206 SDMX standard 197 futures 206 off peak hours 447 GPS protocol 176 off-the-shelf implementations see COTS horizontal technologies 156–157 implementations internet standards 151, 160, 163–164 Office of Financial Research see OFR Leman, Jim 206 Office of Management & Budget (OMB) 361 NTP 176 Office of the Comptroller of the Currency see OCC OPERA 179 Office Open XML (OOXML) (Microsoft) 180 options 206 OFR (Office of Financial Research) 20, 56 OSI 160, 206 Dodd–Frank Act (DFA) 20 PTP 176 standardization 24 Salomon Brothers 206 OLAP, visual 289, 302–303 Smart Grid 176 OMB (Office of Management & Budget) 361 stock trading 206 OMG (Object Management Group) 165, 213 TCP/IP protocol 151, 156–157, 160, 206 OOXML (Microsoft Office Open XML) 180 time synchronization 176 Open Financial Exchange consortium 163

Index 547

The Open Group Architecture Framework (TOGAF) 144 system performance 436, 449–454 Open Protocol Enabling Risk Aggregation (OPERA) Unicode standard (ISO 10646) 172 179 options (securities), FIX Protocol 206 open securities identifiers 188 Oracle, ID products 376 Open Software Foundation (OSF) 375 oral communications, ECPA Act 362–363 open source solutions organization layer, functional models 36, 39–40, 43 Hive 247 OSF (Open Software Foundation) 375 metadata management 348–349 OSI model (Open Systems Interconnection) 160, 235 Pig 247 OTC derivatives see over-the-counter (OTC) RDF 348, 349 derivatives software 216, 375 outages see also service levels SPARQL 348, 349–351 electrical power 230 web companies 239 maintenance 447, 460 open systems see also horizontal technologies metadata management 342, 351 FIX Protocol 206 planned 447 Microsoft 180 scenarios 444–445 OSI 160, 235 output devices, definition 230–231 UNIX 170, 206 outsourcing, current environment 429, 430 Open Systems Interconnection (ISO-OSI) 160 over-the-counter (OTC) derivatives OpenMDDB 213 counterparty risk 53 OPERA (Open Protocol Enabling Risk Aggregation) Dodd–Frank Act 28 179 FpML 210 operating systems ISDA 23 POSIX 144 pricing data 79 time 174 service providers 79 UNIX 170, 206 transaction venue 155 operational data see data flows; process flow ownership see also data ownership management; supply chainstrading entries; code list models 197 transaction flows; transactional data IT systems 74 operational risk legal entities, hierarchies 53 emails, risk data in 246 property ownership, MERS 117 metadata management 342 total cost of ownership 345–346 straight-thru processing 52 operational system, definition 433 Packard, David 477 operationalization 406, 413, 417, 422 Pajek (large networks, analysis) 303 operations management 436 see also FRAT Panopticon (toolkit) 311 programsactivity planning parallel computing 236 audits 461 parallel coordinate plots 300–301 backup & recovery 444–445 parallel implementation, workstreams 406 benchmarking 452–454 parameters, visualizations 291–292 call center 458 pass-through mortgage securities 99–104 change management 436, 454–457 pattern analysis (attributes) 491 communication to users 459–460 Patterson, J. 118 data archive & purge 458 payment systems data corruption 444–445 current environment 148 data delivery & access 436, 436–446 ISO TC68 financial services 165, 165–166 data loading 80, 262, 437–441 payment initiation message 202 data security 444–445 PDF (Portable Document Format) 173, 179–180 disaster recovery 48, 461–462 peak hours, SLA definition 446 the FRA ecosystem 433–435 Pen Register & Trap and Trace Statute 363 hardware & software upgrades 459 Pen Register Act 362 help desk 458 pension funds (legal entity type) 56–58, 155 hours of business 435 perception & cognition 281–282, 320–321 monthly management report 460–461 performance analysis (projects) 400 new projects 436, 457 performance management, mortgages 94, 98, 111–112, policies & procedures 75 219 see also benchmarking entries; key responsibilities outline 462–463 performance indicators; key risk indicators support teams, Security Master 72, 73 permissioning & entitlements see data access, system availability 436, 446–448, 508 permissioning/entitlements system maintenance 447 Perold, Jacques (FIX protocol) 206

548 Index

personal information 365, 373, 442 see also prices, implied from related instruments 264 confidentiality; privacy requirements pricing data services, current environment 80 Peterson, C.L. 114, 117 pricing matrix, example 331 phases, FRAT programs 406 pricing portfolio metadata 333–334, 333–335, 344 physical layer (OSI) 235 Pricing Reference Data 75–81 PID code (Moody’s KMV ID) 190 categories 76 Pig (open source solution) 247 implied fields 265 Pighin, M. 284, 289, 302 lifecycle 76 Pizante, L. 118 plausibility checks 267 PKI (public key infrastructure) 166 real-time data 77 planning, FRAT programs 48, 217 see also blueprints, reusing data 329 Enterprise Architecture; business case Security Master 67, 76 development; costs/benefits entries; FRAT sources 76, 78–79 program entries; implementation strategies uses 77–78 Playfair, William 295 Pricing Reference Data service 79, 79–81, 80, 266 Plumlee & Ware 307 pricing, risk-based (RBP) 219 PMO (Program Management Office) 390, 394, 396 principal component analysis 290, 291 POC (Proof of Concept) (benchmark) 71, 452 principal trades 7n1 point of sale (POS) 363, 364 prioritising projects 424 pooling & servicing agreements (PSA) 110 privacy, definition 356 Portable Document Format (PDF) 173, 179–180 Privacy of Consumer Financial Information (FDIC portfolio-based data products 256, 257 Regulation) 365 portfolio management, definition 10 privacy requirements (data & information) 357 see also portfolio metadata (capital markets) 154–154, confidentiality; data access, permissioning/ 333–335, 344 entitlements; security Portfolio Theory (PT) 312 Bank Secrecy Act 357 PortfolioCompare (visual analysis tool) 284, 314–315 current environment 375–376 portfolios, risk management see also risk management data integrity 505–506, 508 analysis, visual analysis and InfoVis 284 ECOA Act 364 Big Data 224 ECPA Act 362–363 data structures 292 EU Directive 372–374 loan evaluation process 44–45 FCRA Act 357, 365–366 performance, InfoVis 284 FOIA Act 367 pools 289 GLB Act 367–368 pricing data 77 information assurance 470 size/volumes 289 Privacy Act 370 tables 333–334 Reform Act 366–367 thought process 316 regulations 357 treemaps 317–319 RFPA Act 370–371 visual analysis 288 Safe Harbor Principles 374 portfolios, types of 94–96 private banking, definition 10 POS (point of sale) 363, 364 private data sources 263 positions 40–42, 81, 81–83 private equity, definition 13n24 positive economics 312 private individuals see confidentiality; personal POSIX (O/S interface) 144 information; privacy requirements post trade environment 253 private investors, definition 10 Postscript 179–180 private-label supply chain 119 Powell, R. 115 mortgage data transfer 104–106, 107, 113, 114 PowerPoint (Microsoft) documents 412 private markets, transaction venue 156 precious metals, pricing data providers 78 privilege management infrastructure (PMI) 375 Predictive Risk Models, definition 221–223 probability of default (PD) 44 presentation, data 489, 513 process deconstruction, practice methods 47, 49 President of the United States, GAO 20, 31–32 process descriptions see also business processes; Pretexting Provisions (GLB Act) 369–370 functional models pretrade, user requirements 252 “Acme Bank” 42–48 price change/value, bead cluster diagrams 298–300 anti money laundering 54, 55 price clusters, visual analysis 300 California, property recording 120–127 price history, definition 80 change management 455–456 price indices, house prices 93 Client On-Boarding 54, 56 price metadata (capital markets), attributes 76 decision-making process 287–288 prices & earnings, by city, visual analysis 289 end dating 70

Index 549

Florida, property recording 127–130 Florida 116, 119, 127–130 “how,” definition 156 law 118–120, 119, 123 Know Your Client 54, 55 leading instrument 119, 120 loan origination (“Acme Bank”)42–46 MERS 114 loan tracking 91 proprietary data 263 mortgage data transfer 104–106 proprietary IT standards 158–159 mortgage origination 86–90 proprietary security identifiers 187 pricing data services 80 proprietary trading 27n65 property recording 120–130 prospectuses & supplements 106–110, 111 REMIC MBSs 99–101 protocols see network protocols securities industry chain 220 prototyping 404, 473 Security Master 68–70 PSA (pooling & servicing agreements) 110 security order 51–52 pseudographs 303 valuation 76 psychology, price clusters 300 see also borrower process flow management see also cash-flows; data behavior flows; functional models; supply chains; PT (Portfolio Theory) 312 transaction flows PTP protocol 176 change management 276 public data sources 91, 252, 263 securities 51 public key infrastructure (PKI) 166 tools & techniques 273–276 Public Key Infrastructure (X.509) 375 process metadata (metadata management) 331, publishing, data 274 342–343 publishing service (securities), definition 71 application support 346 permissioning & entitlements 344–346 qualitative data, visual analysis 313 process deconstruction 49 quality see data quality process identifiers 53 Quantum4D (visual analysis tool) 311, 319–320 processes, and technologies 276 query languages processing power 230–231, 231–232, 234, 236 analytics 221–223 microprocessors 216, 231–232 OLAP 302 processing rules 40 purpose 350 procurement process 71 SPARQL 348, 349–351 professional societies, standards 162 SQL 144, 242–244, 247 profiling, data see data profiling Quote Type (attribute) 76 profit/loss, treemaps 319 program (Data Governance) 473 radio-frequency identification (RFID) 465 Program Management Office (PMO) 390, 394, 396 Rajan, A. 88 program managers 389, 394 RAM 230–231, 233 program risk, FRAT programs 401 randomizing data 444 programmability 231 RAPM (Risk-Adjusted Performance Management) 219 programs (computer), 231 Rappaport, M. 118 programs vs. projects 388, 389, 389–391, 473 see also Raschke, R. 282, 283 FRAT program entries Rating & Investment Information, Inc. 14–15 Project Sponsor 394 rating agencies 14–15, 214, 365–366 project staffing see FRAT programs; staffing raw data 227, 292 projection, visualizations 291 Raymond James 9 projects, within FRAT programs see also FRAT RBP (Risk-Based Pricing) 219 program entries RDBMS see relational databases projects see also programs vs. projects RDF (Resource Description Framework) 348, 349, cost types 391 349, 350 financial management 400–401 real estate 10n6 management 389–391 Real Estate Mortgage Invest Conduit see REMIC managers 390, 394, 473 entries resourcing 427–430 real-time applications risk management 401–403, 415 analytic data stores 445 Proof of Concept (POC) (benchmark) 71, 452 back vs. front office 253, 263 property, interest in real 119 clearing & settlement 78 property metadata, current environment 93 data quality 253 property metadata (mortgage transfers), attributes 92, 93 data transfer 408 property ownership, MERS 117 data vendors 78, 79, 80, 84 property recording systems financial risk analysis 279 California 116, 117–118, 119, 120–127 FX rates 77

550 Index

real-time applications (cont.) impact on workflows 143 international financial information 84 MapReduce 248 investment managers 77 MPPs 239, 240 market prices 77, 79 node-link diagrams 303 messaging 64, 71, 72 OpenMDDB 213 OLTP databases 244 SQL-based 144, 242–244 pricing data 67, 77, 80 views 338–339 pricing data providers 78 relevance, data 489, 513 risk monitoring 221 REMIC (Real Estate Mortgage Investment Conduit) securities 68 data trap & trace 363 creation process 99–101 visualizations 293 current environment 111 XML 350–351 data availability 102–104 Realpoint LLC 14–15 REMIC-MBSs 107, 111–112 record level data see business objects; entities (data); REMIC-SPVs 106, 111–112 table structures REMIC trusts 102 Recovery & Resolution Plans (RRPs) 28 repeat-sales price indices 93 RED code (Markit Ref) 191 Replication Server System Database ID (RSSDID) 190 Reference Data 212 see also golden copy database; representation primacy 284 Legal Entity Reference Data; Master Data; Master repurchase agreements (repos) 77 Data Management; Pricing Reference Data; Request for Proposal (RFP) 71 Security Master requirements, defining 75, 387 cloud computing 212 research environment, user requirements 252 consistency 265 residential mortgage loans see mortgage loans current environment 274 Resource Description Framework (RDF) 348, 349, 349, FIBIM information model (ISO 19312) 148–149, 350 213 response times 449 legal entity 52–65 retail banks/banking 11, 12 organizational layer 40 retail brokers, definition 9–10 requirements summary 50–51 Reuters see also Thomson-Reuters SAS models 212 competence 73 sources 212 data cleansing 16 standards 24, 212–213 IDs 187 referential analysis, data quality 491 pricing data 78 Reform Act (Credit Reporting) 366–367 RIC code 58–59, 187, 189 reformatting data 258 Security Master data provider 68 region codes (global) 181–182 Reuters Instrument Code (RIC code) 58–59, registration, financial instruments 107, 184, 214 187, 189 regulators (official sector) revenue generation, data assets 466–468 current environment 87 RFID (radio-frequency identification) 465 Dodd–Frank Act 17 RFP (Request for Proposal) 71 institutions 17–22 RFPA (Right to Financial Privacy Act) 370–371 mortgage origination data 91 RGraph 314 pricing data 75 RIC (Reuters Instrument Code) 58–59, 187, 189 primary 17–21 rich text format (RTF) 180 Regulatory Oversight Committee (ROC) 188 Right to Financial Privacy Act (RFPA) 370–371 regulatory reports rights issues (corporate action), definition 69 ALLLs 96–99 ring maps 295–296 Bank Secrecy Act 371–372 risk analysis 45, 220, 279 see also calculated data; user requirements 253 graphs; historical data; risk analytics; risk regulatory requirements management; value-at-risk asset class correlation 189 analytical reasoning 285–288 financial data privacy 357 formulae, metadata 341 FRAT program risk 402 functional models, role 45 mortgage market 118 mortgage origination data 91 regulatory risk 402, 466 principal component analysis 291 requirements definition 276–277, 387 real-time 279 relational databases (RDBMS) see also 242–245 risk modeling 221 data field properties 334–335 skewness, ring maps 295 database design 154, 336–339 static data 91–93 horizontal technologies 156–157 statistical tools 418

Index 551

risk analytic ecosystem 417–420 risk monitoring, definition 221 risk analytics 221 see also calculated data; graphs; risk reporting 220 see also InfoVis; query languages; InfoVis risk entries; value-at-risk; visual analysis regulatory reports; visual analysis of financial data of financial data ad hoc reports 256 “the analytic problem” 285–288 tools 418 analytic processing, definition 220–225 risk response, definition 221 data stores 417–418, 420–421 Rittel, H. 281 dimension reduction 291 Roberts, Pasha 282, 283, 284, 286, 289 domain analysis (attributes) 496 ROC (Regulatory Oversight Committee) 188 financial networks 285 Rohan, P.J. 115 FRAT programs 417–420 Rooney, N. 293 functional tests 420–421 Rosinia, N. 116 information access 220 Rothschild, M. 88 “pair analytics” 308–309 Royce, Winston 404 portfolio monitoring 316 RRPs (Recovery & Resolution Plans) 28 sample query 221–223 RSA (security firm) 376 scenario analysis 316 RSSDID (Replication Server System Database ID) 190 supply chain analysis 146–147 RTF (rich text format) 180 systems 225–228 rules see business rules metadata tasks 309–310 tools, types of 418 S&P (Standard & Poor’s) visual analysis and InfoVis 285 data cleansing 16 risk areas, positions data 81 GVKEY code 192 risk-based pricing (RBP 219 house price indices 93 risk categories see also systemic risk; specific risks ratings services 14–15, 73 category segregation 219 security ID 187 correlated risks 27n64 Security Master 68 counterparty risk 53, 56, 81 ticker symbols 184–187 FRAT program risk 401 S&P-Case-Shiller 93 FRAT project risk 401–403, 415 Sa, F. 285, 303 liquidity risk 81 SaaS (software as a service) 379 operational risk 52, 342 Safe Harbor Principles 374 regulatory risk 466 Safeguards Rule (GLB Act) 367, 369 risk factors, REMIC prospectuses 108, 109, 111 sales data, visualization 289 risk information Sallie Mae (educational credit) 13–14 data processing categories 220–225 Salomon Brothers 206 functional models (data & information flows) 39–40 San Francisco County Recorder 118 risk segregation 219 Sandas, P. 86 risk limits, credit cards 221 SAP 433 risk management 470 see also data management and Sarbanes–Oxley Act (SOX) 473 associated entries; data risks; functional models; SAS models 212, 433 key performance indicators; key risk indicators; Savikhin, A. 284, 313 portfolios, risk managementrisk entries; systemic Sawant, A. 284, 295 risk; value-at-risk scale, issues of see also complexity issues analytic data 220–225 Big Data 217, 224 data access types 220 corporate hard drives 465 data asset risks 468–471, 503–505 current environment 87, 465 data governance 468–471, 496, 502 financial intermediaries 252 data ownership 502 FRAT projects/workstreams 389, 390–391 FISMA 360–361, 505–506 global user population 388 FpML 210 hardware IA model questions 470–471 MBSs 85 information assurance 470 MERS 117 information needs 39–40, 220–221, 225–229 mortgage loans 85 monitoring function, definition 221 MPPs 240 operational data 220 municipal bonds 349 processing requirements 220–225 operating parameters 343–344 Risk Management Framework 361 portfolios 289 silos 219 Security Master, centralised 73–73, 73–75 valuation function 77 security records 336 risk modeling, definition 221 SIX Telekurs 84

552 Index

scale, issues of (cont.) Securities Act, securities exemptions 106 speed 223 securities classification, current environment 155 system efficiency 223 Securities Litigation Uniform Standards Act 22 system types 220–221 securities, regulation see also specific Acts of Congress trade types 155 MSRB rules 22 transactions 153 state laws 22 users 388 Securities Standards Advisory Board (SSAB) 200 visual analysis 289, 290–291, 320–321 securitization 30–32 Wal-Mart 465 data management 85 XML 349, 350–351 GSE supply chain 99–104, 107 scaling data, visualizations 290, 292–293 loan identifiers 112 scaling prices 264 private-label supply chain 104–106, 107, 113, 114 scanning data 222 prospectuses 106–110 scatterplots 297–298 security (system security) see confidentiality; data scenario analysis, thought process 316 access, permissioning/entitlements; data security; SCG (Standards Coordination Group) privacy requirements Schneiderman, Ben 284, 287, 304, 316, 317 Security Industry & Financial Markets Association scope management see also functional models (SIFMA) 23 data governance 514–515 Security Industry Association (SIA) 23 FRA “system” 449 Security Master (reference data/securities master file FRAT projects 388 data) 65–75, 66 see also Master Data; reference leveraging analytics 423 data; security metadata risk management systems 219 business processes 68–70 scope creep 402 centralised solutions 73–75 system boundaries 153 current environment 274 screening data 265 data accuracy issues 73, 73–75, 76 scrum (software construction) 426–427 data definitions 67–68, 68 SDK/APIs interface 256 data lifecycle 68–70 SDLC (Software Development Life Cycle) 403, data vendors 68, 71 415–421 implementation strategies 71–75 SDMX standard (Statistical Data & Metadata lifecycle 73, 76 eXchange) (ISO 17369) 197 operational support levels 73 SEC (Securities & Exchange Commission) 17, 368 pricing reference data 67, 76 data vendors 16 problems 73–75, 76 fiduciary duties 29–30 standards 212–213 MSRB 22 security metadata (financial securities) 212–213 see purpose 17–18 also Master Data; reference data; Security Master rating agencies 14–15 attributes/data items 66, 67, 67–68, 68 REMIC-MBSs 107 identification schemes 67 wholesale banks 12–13 identifiers 67, 68, 187 XBRL 283 metadata management 329 The Secrets of Consulting (Winberger) 157 security types 333–334 securities 29n76 see also capital markets entries; settlement information 67 currency entries; funds entries; futures contracts; security of data see data security Master Data; options; reference data; Security SEDOL code (Stock Exchange Daily Official List) Master; security metadata; stocks 58–59, 186 available-for-sale 94–96 SEFs (Swap Execution Facilities) 28 candlestick charts 294–295 self-certification, data protection 374 counterparty risk 53 self describing data 178, 275, 349 current systems 149–151 self-regulatory organizations (SROs) 21–24 see also global markets 23–24, 31 FINRA matching data sources 259 self-selection, credit risk 88–90 pricing data 78 sell-side financial institutions, description 9, 9–10, process descriptions 51–52 155, 206 process flow 51 semantic data validity 266 processing chain semantic models 194, 213, 215, 292 service providers 83 semantic technologies 217 transactions (functional models) 47 Semantic Web, origins 164–165 visual analysis and InfoVis 284 semi-structured data 246 Securities & Exchange Act, regulatory authority 17 service level agreements (SLAs) see also service levels; Securities & Exchange Commission see SEC system availability

Index 553

data loading 437–441 social networks, data structures 245, 303 document content 438–439 Society for Interbank Financial Telecommunication see exceptions 447 SWIFT implementation plan 439–440 Software & Information Industry Assoc (SIIA) 23, 199, penalties 448 212 requirements definition 75 software as a service (SaaS) 379 system load priorities 450, 454 Software Development Life Cycle (SDLC) 403, system performance 449–454 415–421 third party providers 447–448 software upgrades, operations management 459 service levels see also service level agreements; system solid-state drives (SSDs) 233–234, 234, 236 availability solution architecture 406, 410–411, 413–415 client reporting 82 Sonnemans, J. 300 metadata 352–353 sorting data 222 operating parameters 343–344 source systems 226, 252, 254–255, 258 outages 447 sourcing data see financial data; sourcing process metadata 342 sovereign debt, visual analysis 319–320, 320 testing 421 SPARQL query language 348, 349–351 service-oriented architecture (SOA) 473 sparse data structures 247 service provider metadata 36 spatial data 290 service providers (third party) see also data vendors specificity (data precision) see also data quality counterparty risk 56 data representation standards 167–177 data governance 274 horizontal/vertical views 167–177 financial penalties 448 quality levels 253, 260, 263, 269 ISO 56 specificity (metadata precision) NAIC 56 data storage containers 504 outsourcing 257, 429, 430 Information Asset Profiling 501, 504, 506 pricing data 78 security requirements 506 REMIC-SPVs 112 system volumetrics 408 SIC 56 technical conventions 501 on-site/off-shore model 429 Spewak, Steven M. 144 SLAs 447–448 Spiceland, J. D. 96n8, 96 settlement systems see clearing & settlement systems spin-off (corporate action), definition 70 Sfile (text file) 349 sponsors (programs & projects) see also stakeholders SGML standard (ISO 8879) 165, 180 business sponsors 476 shared data see data reuse/sharing executive sponsors 476 shared-nothing architectures see MPPs project sponsor 394 shareholders, corporate actions 69 sponsors (securitization process), definition 105 Sheffield, A. 118 spread-marts, current environment 443 shelf registration 107 spread-to-Treasuries 78 SIA (Security Industry Association) 23 spreadsheets see also Microsoft Excel SIC code (Standard Industrial Classification) 56, OPERA standard (Open Protocol Enabling Risk 58–59 Aggregation) 179 SIFMA (Security Industry & Financial Markets structure & version control 275–276 Association) 23 SPVs (special-purpose vehicles) 56–58, 99n17, 99, SIIA (Software & Information Industry Assoc) 23, 106, 107 199, 212 SQL-based RDBMs (Structured Query Language) 144, silos see data silo issues 242–244 simulation-based risk analysis see also scenario squarified tree maps 305 analysis SROs (self-regulatory organizations) 21–24 see also Monte Carlo method 223 FINRA mortgage loan data 91 SSAB (Securities Standards Advisory Board) 200 on-site/off-shore model, FRAT programs 429 SSDs (solid-state drives) 233–234, 234, 236 SIX Telekurs (data provider) 84, 257 staffing see FRAT programs, staffing; human resources, skewness, ring maps 295 deployment; operations management SLAs see service level agreements stages, FRAT programs 413–415, 416–417 slicing data, visualizations 291 stakeholders see also sponsors Smart Grid 505.10 data governance 474–478 SMART measures 488–489, 512–513 data governance funding 473 SmartMoney 283, 304 data ownership 437, 440, 444, 445–446 SmartStream 259 FRAT program management 392–394 SOA (service-oriented architecture) 473 iterative development 426–427

554 Index

stakeholders (cont.) ticker symbols see ticker symbols mapping 392–393, 398 trading, FIX Protocol 206 security requirements 506 treemaps 304–305 size/volumes 388 visual analysis 288 system load priorities 450 StockViz paper 284 types 252–253 storage layer, analytic systems 226, 227 Standard & Poor’s (S&P) Stored Communications Act 362, 363 data cleansing 16 straight-thru processing 24n52, 24, 52, 213 GVKEY code 192 StreamCore (service provider) 84 ratings services 14–15, 73 streaming data 256, 293 security ID 187 stress testing, CPU requirements 236 Security Master 68 structural analysis (data) 495 ticker symbols 184–187 Subject Matter Expert 308 Standard Industrial Classification (SIC code) 56, 58–59 subject-oriented warehouses 434 standardization process 157–158 subprime mortgages 86 competition 158 subscribing, data 274 de facto standards 158, 160, 170, 183 SunGard (service provider) 84 OFR role 24 super-aggregators 257 standards see character data standards; character sets; Supply Chain Management Method 26 financial data representation; financial data supply chains (information supply chains) see also standards; financial data standards, process flow management specificfinancial standards; network protocols; aggregators 255, 255–257 numeric data standards; standards, investors in; analysis, definition 146–147 XBRL standard; XML standards chain partners 24n55, 24 Standards Coordination Group (SCG) 221 costs/benefits 260 standards, investors in see also EDM Council; NIST; current environment 147–148, 251–252, 271 OMG data providers 258–261 ANSI 25n56, 159–160, 161 data quality & quality metrics 265–269 ASC X9 162 data transformation & distribution 261–265 BSI 159–160, 162 efficiency 270–271, 277–278 FASB (Fin Accounting) 96n8 finance industry 146–157, 253–269 FIBO (Fin Information) 213 GSEs, mortgage data 99–104, 107 ICT standards organizations 139, 159 industry utilities 257–258 international bodies 159–161 management 26, 91, 147–148 investment roadmap 198–199 mortgage data transfer 99–114 ISO 56, 158, 159–160, 161 new chains 263 national organizations 161–162 optimization 277–278 NIST 159–160, 358–359, 361 private-label, mortgage data 104–106, 107, 113, 114 professional societies 162 process flow 273–276 proprietary standards 158–159 securities trade 156–157 SCG stakeholders 252–253 W3C consortium 350 time delays 263 Stanton & Wallace 88 ultimate data sources 254–255 Stanton, Richard 101 XBRL 255 Stasko, J. 284, 287, 288 “supranational organization,” legal entity definition State Banking Commissions 17 56–58 State Street Bank & Trust 16 Suspicious Activity Report (SAR) 371–372 static data 91, 194, 293, 434 Svirydzenka, K. 285 Statistical Data & Metadata eXchange (SDMX swap agreements (swaps) see also credit default swaps standard) (ISO 17369) 197–198 central counterparties (CCPs) 28 statistical modeling (business view), ALLLs 96–99 identification schemes 259 Stiglitz, J. 88 interest rate swaps 28n71, 79, 259 Stock Exchange Daily Official List (SEDOL code) mortgages 100n19, 108 58–59, 186 SEFs 28n72 stock exchanges see exchanges Swap Execution Facilities (SEFs) 28 “stock splits” (corporate action), definition 69 Sweden, sovereign debt exposure 320 stocks 29n76 SWIFT (Society for Interbank Financial bead cluster diagrams 298–300 Telecommunication) registry data set 289 BIC code 190 ring maps 295–296 data provider 257 tick data, visual analysis and InfoVis 284 IBAN code 193

Index 555

Investment Roadmap 199 technology, evolution of 143–144 ISO 15022 securities messaging 199–200 technology foundation, definition 75 ISO 20022 business model 213 technology platforms 216–218 ISO 20022 for Dummies 202 technology, processes & information supply ISO 20022/XBRL 210–212 chains 276 objective 163 Tegarden, D.P. 280, 282, 288 proprietary standards 158 Telekurs 68 SCG telephone bills 363 SWIFT code 58–59 term deposits 12n12 SWIFT messaging standard (ISO 15022) 70, 166, 194, testing applications 420–421 199–200 testing data assertions 493–494 Swiss Exchange 183 testing disaster recovery procedures 447 Switzerland testing IT systems see also testing techniques ISO 159–160 service level testing 421, 438 national security identifier 186 user-acceptance 421, 422 sovereign debt exposure 320 volumes (volume testing) 457 symbology 183 testing techniques (IT system) symmetric multi-processing (SMP) 236–238 benchmarking 457 system audits 461 functional tests 420–421 system availability 446–448 integration testing 421, 456 data asset valuations 508 unit testing 421, 457 during data loading 441 testing techniques (risk management) definition 436 stress testing 229–236 FISMA 505 “use-tests” 224 load windows 441, 447 text, analyzing 289–290 performance limitations 450–452 third party providers see data vendors; outsourcing, SLA scope 446 current environment; service providers system boundaries see scope management Thomas, J.J. 280, 281, 282, 285, 286 system design, analytic systems 228–229 Thomson-Reuters 187, 212 see also Reuters “system,” FRA 449 ticker symbols 58–59, 78, 184–187, 332 system maintenance 447 TIFF (Tagged Image File Format) 139 system performance 232, 449–450, 449–454, 450, 454 tile-based parallel coordinates 284, 301 see also processing power time (attribute) 290 system testing (IT systems) see testing entries time measurement, service provider 162 systemic risk time, operating systems 174 analysis standards 214 time series data 265, 290 Dodd–Frank Act 27 time synchronization 176, 176 international debt 319, 319–320 time-variant data 293, 434 SIFMA 23 time/date formats straight-thru processing 52 Excel 174 visual analysis 319, 319–320 internal/external 174 ISO 8601 175 table structures 289, 300, 302–303, 314, 333–334 metadata management 332 Tableau (visual analysis tool) 311 representations 290 tablet devices see consumer devices time series data 290 TAFIM (Technical Architecture Framework for timeliness, data & information 224, 263, Information Management) 144 489, 513 Tagged Image File Format (TIFF) 139 TOGAF (The Open Group Architecture tagging, definition 207–210, 275 Framework) 144 Tarullo, Daniel (Fed Res) 56 tolerance settings 267 Tata Motors Ltd. 187 total cost of ownership (TCO) 345–346 Tax ID (legal entity attribute), definition 58–59 Total Data Quality Management (TDQM) 498 taxonomies, external code lists 194 trade & position data 81–83 TBA-MBS (to-be-announced mortgage-backed capital markets 78 securities) 79, 100–102 data management 82–83 TBMA (The Bond Market Association) 23 drivers 81–82 TCO (total cost of ownership) 345–346 metadata 82–83 TCP/IP protocol 151, 156–157, 160, 206 trade lifecycle 154–157, 155 TDQM (Total Data Quality Management) 498 trade types 155 Technical Architecture Framework for Information TradeWeb (data vedor) 79 Management (TAFIM) 144 trading data, definition 81

556 Index

trading desks 36 underwriting characteristics metadata (residential trading, information supply chain 156–157 mortgages) 91, 92 trading securities 94–96 underwriting deals 12n18–13n18 trading systems, OLTP 244 Unicode Consortium 171 trading, transaction types 36–37 Unicode standard (ISO 10646) 171–172, trading, visual analysis 288, 294, 172 294–295 Unified Modeling Language (UML) 201 transact-ability, data 489 Uniform Commercial Code 116 transaction flows (“Acme Holdings”)39–40, 42–48, Uniform Resource Identifier (URI) 190 46–47 unique key analysis, definition 491 transaction layer (functional models) 36–37, unit testing (applications) 421 40–42 unit trusts, definition 13n22 transaction metadata (capital markets) 154–154, 343, United Kingdom see UK 343–344 United Nations (UN), SDMX standard 197 transaction processing 244 United States see USA transaction types 36–37 universally unique identifier (UUID) 374–375 transactional data 42 see also data flows; supply UNIX operating system 170, 206 chainstrading entries unstructured data 246 see also documents data access patterns 220 upgrades/releases 454 functional models 36–37, 40–42 URI (Uniform Resource Identifier) 190 lifecycles 252–253 US Agency Securities 78 loan origination (“Acme Bank”)42–46 US-ASCII 173 matching data sources 259 US Commerce Dept 164, 374 nature of 194 US Congress see also specific Acts of Congress reconciliation 267, 275 financial privacy 357 risks across 45 GAO 20 venue types 155, 156 global financial crisis 31–32 transfer notes, legal considerations 113–114 GSEs 13–14, 31–32 transforming data 263–265, 420–421, ISITC 23–24 423 US county property recording systems vs. MERS translating data 265 116–118 translational research 281 US Credit Default Swaps 78 transparency US Gilts 78 data lineage 252, 262 US Repos 78 vs. disclosure 87 US State Governments 22, 29n77 manual processes 79 US Treasury Department MERS 76 Form 90-22.1 371–372 pricing policies 76 FSOC 19 Treasury Department see US Treasury purpose 19 Department TBA-MBS, pricing data 79 tree structure, definition 241 US Treasury bonds 19 treemaps, financial data 284, 304–305, USA (United States) 317–319 Basel II 387 Truro, D. 284, 288 Basel III 30 Tufte, Edward R. 282, 292 Chinese wall 11 Tukey, J.W. 282 constitutional rights, privacy 356, 357 Tullet Prebon (inter-dealer broker) 79 Defense Dept 160 tweets, analyzing 289–290 economic stability 19 two-tier risk 37 see also counterparties; federal info & systems 358–359, counterparty risk 505–506 FRB 19 UC Berkeley, TDQM 498 homeland security 281 UK (United Kingdom) legal entity types 56–58 BSI 159–160, 162 NSIN code 186 sovereign debt exposure 320 property recording statutes 118–120 URI (Uniform Resource Identifier) 190 Security Master op support 73 UK Gilts 78 system security 358 UK Payments 162 USA PATRIOT Act 363, 371 UML (Unified Modeling Language) 201 “use-tests” (risk management) 224 UN (United Nations), SDMX standard 197 user-acceptance testing 421, 422

Index 557

user interfaces Wallace, N. 88, 101 consumer-focused devices 150–151 walled gardens 151 dashboards 274, 317 Ward, M. 282, 285, 286, 290, 292, 294, 300, desktop 317, 433, 445–446 305, 308, 309 hand held devices 358, 379 Warnock, John (Adobe) 179–180 users see stakeholders Washington Mutual 114 utilities, data vendors 257–258 waterfall model (software development) 403–404, 414, UUID (universally unique identifier) 416–417, 425–426 374–375 Wattenberg, Martin 284, 304 WD-40 Company 187 VA see visual analysis of financial data wealth management, definition 10, 34 Vaeven, L. 96 Weaver, C. 318 VALOR code 186 web see www valuation models, automated 93 Webber M. 281 valuations Wehrend, S. 287 asset valuations 75 weighting, heatmaps 305 data asset valuations 506–509 Weinberger, Gerald 157 function definitions 76, 77 Wells Fargo 114, 187 super-aggregators 257 whole-loan mortgages see mortgage valuation service, vs. pricing data services 80 loans value-at-risk (VaR) wholesale banks, definition 12–13 calculation layer 227 wikis, analyzing 289–290 InfoVis & visual analysis 284 wire transfers 284, 289, valuation function 77 362–363 value generation, data assets 423, 466–468 Wiretap Act 362, 363 VanHoose, D. 387 WireViz (visual analysis tool) 304 vendor-tool evaluations 413 WKN code 186 vertical standards 139 WM Daten 257 Vessey, I. 288 Word documents 412 views (databases) 338–339 workload (system) 449–450, 454 see also processing VisMaster 286 power visual analysis of financial data (VA) 279, 280, 285 see workstreams, FRAT programs 389, 390–391, also InfoVis 403–425 analytic tasks 286–287 World Bank, SDMX standard 197 behavioral economics 312–315 Wright, W. 280, 283 data features 288–294 www (word wide web) fixed-income data 315–319 enterprise architecture 144 foreign exchange 288 size/volumes 216 granularity 290, 303, 308 W3C consortium 164–165, 172, 348, human role 286 349, 350 vs. InfoVis 281, 282–283 web-based data analysis 239 international debt 319, 319–320 web-logs 239 perception & cognition 281–282, 320–321 Web Services 164–165, 256 scale, issues of 289, 290–291, 320–321 www consortium see W3C systemic risk 319, 319–320 tools 311–312 XBRL standard translational research cycle 281 IFRS 207–210 treemaps 284, 304–305, 317–319 implementation progress 198 triad 285 Investment Roadmap 199 VA Expert 308 ISO 20022 alignment 210–212 visual OLAP 302–303 origins 164–165, 208 visual design 291 purpose 25 visual inspection 494 SCG volatility (standard deviation) 284, 292, 295, 341 SEC 283 Volcker Rule (Dodd–Frank Act) 27 supply chains 255 volume testing (IT systems) 457 vertical standards 139 voluntary actions (corporate actions) 69 Xcelsius (toolkit) 311 Xerox standards 165–166, 171–172 W3C (www consortium) 164–165, 172, 348, XHTML (eXtensible HTML) 180 349, 350 XML standards 25 see also FIXML standard; XBRL Wal-Mart, data volumes 465 standard

558 Index

XML standards (cont.) Yahoo Finance (charting tool) 295 Base64 encoding 173 Yang, Y.W. 283 corporate schema 72, 74 Yi, J. S. 307 FpML 211 Genericode 195–197 Zachman Framework 144, ISO 20022 164–165, 199, 202 145–146 limitations 350–351 Zachman, John 144 MDDL 212 ZC (Zengin Code) 190 origins 164–165 Zhang, K. 284, 295, 298 RDF 349 Zhao, X. 284, 301 SPARQL 350 Zhao, Y. 284, 301 W3C 164–165 Zhou, M. 287 XHTML 180 Ziegler, H. 305 XSLT tools 259 zip code, loan tracking 91