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Data Integration

The Data Integration (DI) is a key component of the TOM Programme aims to achieve the following objectives:

  • Ensure that the shared data in the London Market is improved in availability and quality and is secured and managed in a controlled way
  • Foster the use of common message standards in the market to improve ease of data exchange and re-use
  • Provide certainty over shared reference data to avoid inconsistencies, duplications and errors in their use and find opportunities for costs savings
  • Identify and implement opportunities to improve data provision for the central tax and regulatory reporting and data services where this is deemed beneficial by the market
  • Develop tools (e.g. Structured Data Capture service) which enable future straight-through-processing; where data is collected once and used many times.

The Data Integration Initiative is organised along 6 main components of work:

Data Governance: defining the operational model, processes, policies, standards and tools to enable an adequate management and control of shared data across the market

Message Standards: defining a common approach for the enhancement, development and adoption of (new) message standards and supporting implementation across the initiatives

Data Integration Framework: defining the principles and target model for data integration across the market participants and provide guidelines for its improvement

Master Data Management: identifying needs and defining capability to agree, create, maintain and publish a master view of key reference data across the market

Reporting & Data Services: defining scope and identifying opportunities to improve regulatory and tax reporting as well provision of data services where required

Structured Data Capture: establishing a service which converts information held in a variety of formats into structured data using a combination of software tools and manual processes