Why is Reference Data Testing important?
If your reference data is incorrect, it can impact multiple trades across many different jurisdictions. Of firms fined for incorrect reporting, 42% of errors were due to issues with reference data. Our Reference Data Testing service takes a step back from the reporting process and identifies errors within your static/reference datasets so you can fix these within your systems.
Inaccurate reference data, particularly if unchecked for many years, can have a knock-on effect on your reporting quality across all jurisdictions, leading to regulatory scrutiny, costly remediation and the possibility of fines.