40% of transaction reporting errors are related to problems with reference data.
Robust testing of this data should be a key element of your reporting assurance regime.
- Tests both counterparty and instrument reference data
- Executes a range of checks to ensure that client and counterparty static data is accurate and complete
- Full population of static records are tested for complete mappings to the appropriate identifiers
- Assesses the use and allocation of internal identifiers
- Specific testing in place for investment managers and the funds they manage.
What do you get for each test cycle?
- Summary management report on your data, detailing the risks identified and testing findings
- Summary information on the shape of your reference data
- A list of all findings by reference data record providing complete transparency and an audit trail
- Proposed values for LEIs, BICs and FRNs where these are missing from your data, for your confirmation.
ReportShield quality assurance
We can deliver a one-off audit of your reference data however we recommend the service is deployed periodically and as part of our ReportShield suite of services which includes:
Contact us to discuss how we can help you improve the quality of your counterparty and instrument reference data.