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Trade Data Network (TDN)
Working Group
The Trade Data Network Working group series is made up of three groups that meet monthly:
- Buy Side Functional Working Group, consisting of Buy Side participants and focused on key functional areas.
- Sell Side Functional Working Group, consisting of Sell Side participants and focused on key functional areas.
- Joint Data Modeling Working Group, consisting of both Buy and Sell Side participants, and primarily focused on data for the TDN standards-based distributed messaging network.
The Working Group’s primary role is to provide guidance and recommendations. FIA Tech considers the working group a key stakeholder and in good faith seeks to incorporate feedback.
Goals:
- Gather input and feedback to inform agile development
- Validate business/industry requirements
- Prioritize detailed requirements and minimum needs for go-live
- Provide opportunities for hands-on participant feedback and testing
- Identify other areas of need, as applicable
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OTC Brokerage Committee
The OTC Brokerage Committee meets fortnightly and discussions focus on how specifically FIA Tech products can resolve existing issues and create efficiency in the OTC Brokerage space.
The focus of the group will be split across two phases of the project:
Phase 1: Atlantis as a settlement platform
Phase 2: Atlantis as a calculation engine
Goals:
- Identify Industry issues in OTC Brokerage (bi-lateral and cleared)
- Design and create a means to settle brokerage on trades across all OTC products through the use of the Atlantis platform
- Identify needs for normalization/standardization of data related to topics such as Field List, Product Taxonomy, and Settlement Workflow designs.
- Coordinate opportunities for hands-on participant feedback and testing as needed
- Prioritize work items, agree requirements, and agree strategic roadmap of delivery
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Brokerage Advisory Committee
The Brokerage Advisory Committee discusses two key areas:
- Functionality the FIA Tech brokerage platforms must provide, and
- Brokerage settlement rates
The Firm representatives in the BAC will represent their firm in both discussions.
Historically the BAC has advised FIA Tech on ETD related brokerage matters. The BAC continues to discuss ETD brokerage but will also focus on brokerage in other product areas. Initially, US Listed Options and OTC brokerage will be added to the Atlantis offering.
Goals:
- Identify Industry issues in Brokerage across all product sets of interest
- Thought leadership on direction brokerage processes and associated technology must take to meet current and future needs
- Prioritize work items, agree requirements, and agree strategic roadmap of delivery
- Guide work required of the OTC and USLO Brokerage Working Groups
Representatives will be senior expense management/brokerage Ops staff
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Reference Data Advisory Committee
This Committee meets monthly and discussion topics are related to static reference data requirements for the ETD industry.
Goals:
- Identify Industry issues/needs in the ETD static data space
- Focus areas:
- Product specifications attributes required from execution and clearing (venue hours of operation, reg & exchange grouping, trading information, settlement & delivery) perspective
- End-of-Day Pricing
- Product code mappings (X-Ref Symbology)
- Exchange Event Management (Corporate Actions, Credit Events, Cash and Collateral)
- Determine technology and process requirements for each focus area
- Prioritization of work, requirements, and agree strategic roadmap of delivery
Representatives ideally fall into several user sets:
- Data management, those who own or work on an internal reference data platform
- Execution orientated to understand data requirements from an execution perspective
- Operations orientated, understanding of reference data required in settlement, deliveries, margining, and reporting of trades
- Risk orientated, for providing perspective on all risk related data requirements
- Product, view of the data requirements from a front to back perspective
