As ever though, the divide between theory and practice continued to move around the table. In a time of infinite budgets and no sudden regulatory changes, there might be time to work out many of the standardisation issues that continue to plague the industry. But while each firm has to remain competitive and drive itself forwards while reacting to the wider market environment, it continues to be difficult to get the necessary cooperation. Again this loops back to the discussed theme of how the buy-side want the ability to manage more of their own data, and to do their own analysis. The ability to control, standardise and manipulate data to suit a firm’s own end is far more powerful than being fed that analysis by another firm. But there is considerable cost involved in the development of the technology required to perform that analysis.
The discussion evolved into a wider dialogue around where firms should cooperate and where they should compete, and how vendors can remain adaptable to these changing and disparate needs. The table agreed that the future remains uncertain, but there is a growing need for the buy-side, sell-side, exchanges and vendors to standardise where possible so that the industry can continue to develop and compete.
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