"Three years ago, we were not ready," says John Bottega, managing director, Reference Data Group - Product & Price, at Credit Suisse First Boston (CSFB).
"Those who were responsible for managing reference data for their firms were solely focused on understanding and defining the optimal model for acquiring and processing multiple feeds," he
explains."It was thought that the 'better mousetrap' would result in a competitive advantage."
Bottega declines to discuss CSFB's plans, but he
believes the attitude in the industry is changing and the opportunity exists for a service provider to offer customized, rules-based processing, if it's scalable and cost-effective."Reference-data managers would love to have the burden of acquisition and processing lifted off their backs," he
relates, because they realize acquiring and processing reference data doesn't lead to a competitive advantage - only a disadvantage if not done right.Industry practices have evolved to the point where most firms basically are doing the same thing, he