Data Management

03:35 PM
David Valiante
David Valiante
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Survey Finds Financial Professionals Dissatisfied With Market Data Quality

SIFMA show poll found 79% of financial professionals have market data quality issues.

According to a recent survey, 79% of financial professionals believe that market data quality is an issue for their organizations.

The survey, which was conducted by Xenomorph at the SIFMA technology show last month, polled financial professionals about their experiences with market data. More than half of the respondents spend significant amounts of time validating data rather than performing productive analyses.

According to the survey, fewer than one in four financial professionals classified the quality of their market data as very good or excellent. In addition to adding unnecessary risk, poor market data quality can have a significant impact on organizational resources. According to the survey, 20% of asset managers, investment bankers and hedge fund professionals spend between 25%-50% of their time validating data. This investment of time and effort on manual data manipulation and analysis is time away from tasks that contribute directly to their organization's bottom line.

"Over past months, there has been much discussion within the financial services industry about the need to improve risk management processes " whether it is to satisfy a regulatory need or strengthen internal risk control," said Brian Sentance, CEO of Xenomorph. "Given these pressures, the biggest risk any financial organization can take is to base its decisions on stale or bad market data. Even the most sophisticated of risk models are worthless if they are being fed by dirty and incomplete data."

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