{"id":117385,"date":"2025-06-02T20:20:24","date_gmt":"2025-06-03T00:20:24","guid":{"rendered":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/financial-services\/adapt-or-else-how-the-sell-side-is-adjusting-to-new-risks\/"},"modified":"2025-07-09T16:10:47","modified_gmt":"2025-07-09T20:10:47","slug":"adapt-or-else-how-the-sell-side-is-adjusting-to-new-risks","status":"publish","type":[3762],"link":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/financial-services\/adapt-or-else-how-the-sell-side-is-adjusting-to-new-risks\/","title":{"rendered":"Adapt or else? How the sell-side is adjusting to new risks"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69fcd82ff22fb'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-7\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px; color: #0062dd;\">ARTICLE<\/span><\/strong><\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div>    <h1 class=\"bbg-metadata bbg-metadata--title\">Adapt or else? How the sell-side is adjusting to new risks<\/h1>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 50px !important\"\n    >\n<\/div>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/financial-services\/\" rel=\"category tag\">\n                    Financial Services\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/markets\/\" rel=\"category tag\">\n                    Markets\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/technology\/\" rel=\"category tag\">\n                    Technology\n                <\/a>\n            <\/li>\n            <\/ul>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-5\"\n    style=\"\"\n    >\n    <div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/404808231.jpeg\" class=\"bbg-single-image__image attachment-full\" alt=\"Office building view\" title=\"Office building view\" \/>\n        \n            <\/figure>\n<\/div>\n\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69fcd8300988e'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6 bbg-column--m-width-6\"\n    style=\"\"\n    >\n    <p>    <p class=\"bbg-metadata bbg-metadata--date\">June 2, 2025<\/p>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><strong>Bloomberg Professional Services<\/strong><\/p>\n\n<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2 bbg-column--valign-middle bbg-column--m-width-2 bbg-column--s-padding-right-2\"\n    style=\"\"\n    >\n    <div class=\"bb-tts\"\n\tdata-selector=\"main\"\n\tdata-label=\"Speak this page\"\n\tdata-custom-play=\"Play\"\n\tdata-custom-pause=\"Pause\"\n\tdata-custom-stop=\"Stop\"\n\tdata-overlay=\"false\"\n\tdata-invert=\"false\"\n\tdata-no-time=\"false\"\n\tdata-no-button-text=\"false\"\n\tdata-one-button=\"true\"\n\tdata-one-style=\"true\"\n\tdata-hide-stop=\"true\"\n\tdata-voice=\"Gordon\"\n\tdata-pitch=\"1\"\n\tdata-speed=\"1\"\n\tdata-align=\"flex-start\"\n>\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-69fcd8300c94d'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">Banks are constantly pressured by economic, technological, and political changes. This is especially evident now as banks navigate several significant shifts in their operational environment\u00a0<\/span><span data-contrast=\"auto\">playing out concurrently.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1}\">\u00a0<\/span><\/p>\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">This article examines the primary operational risks that sell-side participants may currently face and explores possible strategies for addressing them.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1}\">\u00a0<\/span><\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69fcd8300e9f5'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-3\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 32px !important\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px;\">PRODUCT MENTIONS<\/span><\/strong><\/p>\n\n<\/div>\n\n<div\n  id=\"cta_7023409690111752285\"\n  class=\"wpb_content_element bbg-cta no-icon\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p left\">\n      <a\n        class=\"bbg-cta-link link\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/solutions\/banks-broker-dealers\/#automation\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"Bloomberg Solutions for Banks and Broker Dealers\"\n        >\n                      Bloomberg Solutions for Banks and Broker Dealers\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-1\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<div class=\"bb-wysiwyg \">\n<h2><span class=\"TextRun MacChromeBold SCXW76024105 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW76024105 BCX0\" data-ccp-parastyle=\"Default\" data-ccp-parastyle-defn=\"{&quot;ObjectId&quot;:&quot;272499da-5523-5969-b17c-4f82c0ce3910|1&quot;,&quot;ClassId&quot;:1073872969,&quot;Properties&quot;:&#091;469775450,&quot;Default&quot;,201340122,&quot;2&quot;,134233614,&quot;true&quot;,469778129,&quot;Default&quot;,335572020,&quot;1&quot;,469777842,&quot;Arial Unicode MS&quot;,335551500,&quot;0&quot;,268442635,&quot;30&quot;,335551547,&quot;1033&quot;,335559738,&quot;160&quot;,469777841,&quot;Times New Roman&quot;,469777843,&quot;Arial Unicode MS&quot;,469777844,&quot;Times New Roman&quot;,469769226,&quot;Times New Roman,Arial Unicode MS&quot;&#093;}\">Compliance\u00a0<\/span><span class=\"NormalTextRun SCXW76024105 BCX0\" data-ccp-parastyle=\"Default\">i<\/span><span class=\"NormalTextRun SCXW76024105 BCX0\" data-ccp-parastyle=\"Default\">nvestment\u00a0<\/span><span class=\"NormalTextRun SCXW76024105 BCX0\" data-ccp-parastyle=\"Default\">g<\/span><span class=\"NormalTextRun SCXW76024105 BCX0\" data-ccp-parastyle=\"Default\">rowth<\/span><\/span><span class=\"EOP SCXW76024105 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/h2>\n<\/div>\n<div class=\"bb-wysiwyg \">\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">\u201cThe challenges facing banks are materializing from multiple trends,\u201d says <strong>David Allright<\/strong>, Global Head of Sell-Side Risk Product at Bloomberg. \u201cChief among them is the pace at which new rules are being introduced and existing one changed.\u201d\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/p>\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">\u00a0\u201cThere\u2019s a degree of uncertainty around whether some of these regulations will or will not be implemented and about timelines of when they will come into place. This depends on whichever jurisdiction you might be in and who is setting the agenda in that jurisdiction at that time,<\/span><span data-contrast=\"auto\">\u201d says Allright.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/p>\n<\/div>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--white row-padding--top-none row-padding--bottom-none bbg-row--margin-top-compact bbg-row--margin-bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-69fcd8301282c'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\tbackground: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Interstitial_bg.png);\n\t\t\t\tbackground-repeat: no-repeat;\n\t\t\t\tbackground-position: center center;\n\t\t\t\tbackground-size: cover;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:white;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_1\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Discover more with Bloomberg newsletters<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Subscribe now<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_3246409270306924861\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/newsletter\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69fcd830170a7'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">Among examples, Allright says, are market risk and credit risk capital requirements under the Basel framework. The proposal by the Basel Committee to strengthen banks\u2019 resilience to risks was written in 2019, but its introduction has been pushed back repeatedly since then. Banks are unsure when, or even if, they should invest in complying with the rule.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/p>\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">There is also a trade-off to be considered \u2013 which other compliance project must be deprioritized to provide financial headroom for any new rules?<\/span>\u00a0<span data-contrast=\"auto\">\u201cUncertainty of when, or if, a regulation is required adds a risk to a bank, who have to make a decision on how to invest engineering resources to meet regulations,<\/span><span data-contrast=\"auto\">\u201d says Allright.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2><span class=\"TextRun MacChromeBold SCXW186546137 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW186546137 BCX0\" data-ccp-parastyle=\"Default\" data-ccp-parastyle-defn=\"{&quot;ObjectId&quot;:&quot;272499da-5523-5969-b17c-4f82c0ce3910|1&quot;,&quot;ClassId&quot;:1073872969,&quot;Properties&quot;:&#091;469775450,&quot;Default&quot;,201340122,&quot;2&quot;,134233614,&quot;true&quot;,469778129,&quot;Default&quot;,335572020,&quot;1&quot;,469777842,&quot;Arial Unicode MS&quot;,335551500,&quot;0&quot;,268442635,&quot;30&quot;,335551547,&quot;1033&quot;,335559738,&quot;160&quot;,469777841,&quot;Times New Roman&quot;,469777843,&quot;Arial Unicode MS&quot;,469777844,&quot;Times New Roman&quot;,469769226,&quot;Times New Roman,Arial Unicode MS&quot;&#093;}\">Technology\u00a0<\/span><span class=\"NormalTextRun SCXW186546137 BCX0\" data-ccp-parastyle=\"Default\">r<\/span><span class=\"NormalTextRun SCXW186546137 BCX0\" data-ccp-parastyle=\"Default\">isks<\/span><\/span><span class=\"EOP SCXW186546137 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">Technology itself is adding risks to banking operations. The advent of electronic trading and automation has compressed investors\u2019 fees, hastening the diversification of their portfolios into new markets as they search for better returns. This has brought liquidity to once niche asset classes such as crypto, private equity and structured products<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288,&quot;335572071&quot;:0,&quot;335572072&quot;:0,&quot;335572073&quot;:0,&quot;335572075&quot;:0,&quot;335572076&quot;:0,&quot;335572077&quot;:0,&quot;335572079&quot;:0,&quot;335572080&quot;:0,&quot;335572081&quot;:0,&quot;335572083&quot;:0,&quot;335572084&quot;:0,&quot;335572085&quot;:0,&quot;335572087&quot;:0,&quot;335572088&quot;:0,&quot;335572089&quot;:0,&quot;469789798&quot;:&quot;nil&quot;,&quot;469789802&quot;:&quot;nil&quot;,&quot;469789806&quot;:&quot;nil&quot;,&quot;469789810&quot;:&quot;nil&quot;,&quot;469789814&quot;:&quot;nil&quot;}\">\u00a0<\/span><\/p>\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">Moving into new markets requires investment to develop new complex pricing models and deploy techniques to clean and smooth data. These costs can increase further when there is a requirement to provide portfolio level analytics in a timely manner.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<div class=\"bb-wysiwyg \">\n<h2><span class=\"TextRun MacChromeBold SCXW93635867 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW93635867 BCX0\" data-ccp-parastyle=\"Default\" data-ccp-parastyle-defn=\"{&quot;ObjectId&quot;:&quot;272499da-5523-5969-b17c-4f82c0ce3910|1&quot;,&quot;ClassId&quot;:1073872969,&quot;Properties&quot;:&#091;469775450,&quot;Default&quot;,201340122,&quot;2&quot;,134233614,&quot;true&quot;,469778129,&quot;Default&quot;,335572020,&quot;1&quot;,469777842,&quot;Arial Unicode MS&quot;,335551500,&quot;0&quot;,268442635,&quot;30&quot;,335551547,&quot;1033&quot;,335559738,&quot;160&quot;,469777841,&quot;Times New Roman&quot;,469777843,&quot;Arial Unicode MS&quot;,469777844,&quot;Times New Roman&quot;,469769226,&quot;Times New Roman,Arial Unicode MS&quot;&#093;}\">Search for innovative solutions<\/span><\/span><span class=\"EOP SCXW93635867 BCX0\" data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288,&quot;335572071&quot;:0,&quot;335572072&quot;:0,&quot;335572073&quot;:0,&quot;335572075&quot;:0,&quot;335572076&quot;:0,&quot;335572077&quot;:0,&quot;335572079&quot;:0,&quot;335572080&quot;:0,&quot;335572081&quot;:0,&quot;335572083&quot;:0,&quot;335572084&quot;:0,&quot;335572085&quot;:0,&quot;335572087&quot;:0,&quot;335572088&quot;:0,&quot;335572089&quot;:0,&quot;469789798&quot;:&quot;nil&quot;,&quot;469789802&quot;:&quot;nil&quot;,&quot;469789806&quot;:&quot;nil&quot;,&quot;469789810&quot;:&quot;nil&quot;,&quot;469789814&quot;:&quot;nil&quot;}\">\u00a0<\/span><\/h2>\n<\/div>\n<div class=\"bb-wysiwyg \">\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">Focusing on data and its increasing significance in banking operations: consistent datasets,<\/span><span data-contrast=\"auto\">\u00a0particularly when used for pricing financial securities<\/span><span data-contrast=\"auto\">, provide banks with reliable informational bases for assessing and addressing emerging risks. Additionally, APIs facilitate connectivity to software and modeling tools, enabling banks to effectively utilise the expanding data pools accumulated by the sell-side on a daily basis.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1}\">\u00a0<\/span><\/p>\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">However, as the sophistication of data uses grows, many banks are unlikely to have necessary capabilities in-house\u00a0<\/span><span data-contrast=\"auto\">to smooth curves and clean data sources as well as accumulate all data sets in a timely fashion,\u00a0<\/span><span data-contrast=\"auto\">and so they increasingly need to turn to data- and technology-specialist vendors.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/p>\n<\/div>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<div class=\"bb-wysiwyg \">\n<h2><span class=\"TextRun MacChromeBold SCXW247803637 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW247803637 BCX0\" data-ccp-parastyle=\"Default\" data-ccp-parastyle-defn=\"{&quot;ObjectId&quot;:&quot;272499da-5523-5969-b17c-4f82c0ce3910|1&quot;,&quot;ClassId&quot;:1073872969,&quot;Properties&quot;:&#091;469775450,&quot;Default&quot;,201340122,&quot;2&quot;,134233614,&quot;true&quot;,469778129,&quot;Default&quot;,335572020,&quot;1&quot;,469777842,&quot;Arial Unicode MS&quot;,335551500,&quot;0&quot;,268442635,&quot;30&quot;,335551547,&quot;1033&quot;,335559738,&quot;160&quot;,469777841,&quot;Times New Roman&quot;,469777843,&quot;Arial Unicode MS&quot;,469777844,&quot;Times New Roman&quot;,469769226,&quot;Times New Roman,Arial Unicode MS&quot;&#093;}\">Mitigation technology<\/span><\/span><span class=\"EOP SCXW247803637 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/h2>\n<\/div>\n<div class=\"bb-wysiwyg \">\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">Sell-side organizations must consider how to achieve technological transformation to address new risk profiles. Building capacity is one option, but it is costly and requires ongoing updates. This strategy may be impractical if the organization\u2019s tech stack is fragmented, and systems are poorly connected.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1}\">\u00a0<\/span><\/p>\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">As the speed of technological change and the cost of implementation rise, it has become prudent for banks to outsource these operations.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/p>\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">A key to meeting the challenges of the new regulatory landscape is access to consistent data sets and pricing models, says Allright.\u00a0<\/span><span data-contrast=\"auto\">\u201cWhat you [as a bank] don\u2019t want to have is a risk solution at the top of the house that\u2019s different from a solution that the traders are utilizing, because it\u2019s likely they will be looking at different numbers,\u201d he says.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/p>\n<\/div>\n<div class=\"bb-wysiwyg \">\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">In organisations with siloed tech stacks, end users such as traders and compliance professionals, may not be working from\u00a0<\/span><span data-contrast=\"auto\">single source of truth dataset<\/span><span data-contrast=\"auto\">, or a golden source of their enterprise intelligence.<\/span><span data-contrast=\"auto\">\u00a0This becomes challenging when different departments may have to report to different regulators with different data sets.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/p>\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">Having access to consistent data and pricing models ensures banks can satisfy modern reporting rules because regulators require\u00a0<\/span><span data-contrast=\"auto\">data transparency and accurate pricing models<\/span><span data-contrast=\"auto\">\u00a0that can justify the claims and assumptions built into disclosures.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/p>\n<\/div>\n<div class=\"bb-wysiwyg \">\n<h2><span class=\"TextRun MacChromeBold SCXW34971287 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW34971287 BCX0\" data-ccp-parastyle=\"Default\" data-ccp-parastyle-defn=\"{&quot;ObjectId&quot;:&quot;272499da-5523-5969-b17c-4f82c0ce3910|1&quot;,&quot;ClassId&quot;:1073872969,&quot;Properties&quot;:&#091;469775450,&quot;Default&quot;,201340122,&quot;2&quot;,134233614,&quot;true&quot;,469778129,&quot;Default&quot;,335572020,&quot;1&quot;,469777842,&quot;Arial Unicode MS&quot;,335551500,&quot;0&quot;,268442635,&quot;30&quot;,335551547,&quot;1033&quot;,335559738,&quot;160&quot;,469777841,&quot;Times New Roman&quot;,469777843,&quot;Arial Unicode MS&quot;,469777844,&quot;Times New Roman&quot;,469769226,&quot;Times New Roman,Arial Unicode MS&quot;&#093;}\">Faster<\/span><span class=\"NormalTextRun SCXW34971287 BCX0\" data-ccp-parastyle=\"Default\">\u00a0and<\/span>\u00a0<span class=\"NormalTextRun SCXW34971287 BCX0\" data-ccp-parastyle=\"Default\">r<\/span><span class=\"NormalTextRun SCXW34971287 BCX0\" data-ccp-parastyle=\"Default\">icher\u00a0<\/span><span class=\"NormalTextRun SCXW34971287 BCX0\" data-ccp-parastyle=\"Default\">c<\/span><span class=\"NormalTextRun SCXW34971287 BCX0\" data-ccp-parastyle=\"Default\">onnectivity<\/span><\/span><span class=\"EOP SCXW34971287 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/h2>\n<\/div>\n<div class=\"bb-wysiwyg \">\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">An additional reason to seek external support is the ability to connect to data and models in structures such as clouds and APIs, which allows for secure integration of external and internal data and provides organizations with a comprehensive view of their risk exposures.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1}\">\u00a0<\/span><\/p>\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">It is of great importance to banks to bring huge volumes of quality data into their systems ready for analysis and querying, says Allright.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/p>\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">To that end, Bloomberg has developed tools and technology that allow banks to access software and infrastructure through the cloud and APIs without the need for large capital outlays. For instance, Bloomberg\u2019s Web Services technology delivers lightweight, industry-standard APIs. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/p>\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">These APIs provide banks with flexible access to Bloomberg\u2019s software and infrastructure without requiring significant capital investment. \u201cA lot of investment in the past has gone into hardware on site, but these are machines that are not as flexible and scalable as we move into a new cloud-based computing world,\u201d Allright says.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/p>\n<p data-ccp-border-bottom=\"0px none #000000\" data-ccp-padding-bottom=\"0px\" data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">\u201cWe see clients trying to access our set of APIs rather than buy in a fixed product that sits on their desktop because they want to utilize the data and manage the data in different ways increasing deploying their own artificial intelligence \u2013 they want to commingle it with their data and create their own IP.\u201d<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:160,&quot;335559740&quot;:288}\">\u00a0<\/span><\/p>\n<\/div>\n<div class=\"bb-wysiwyg \">\n<p><em>Interested in Bloomberg\u2019s solutions for bank and broker dealers? Click\u00a0<a href=\"https:\/\/www.bloomberg.com\/professional\/solutions\/banks-broker-dealers\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/em><\/p>\n<\/div>\n\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <style>section[data-anchor=row-69fcd8301a050]::before {\n\t\t\t\tbackground-color: #f4f4f9;\n\t\t\t}<\/style>\n    <section class=\"bbg-row bg--custom-color  bg--f4f4f9 text--black bbg-row--full-bg-bleed\" data-anchor='row-69fcd8301a050'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h3>Related Content<\/h3>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-4 bbg-column--halign-right\"\n    style=\"\"\n    >\n    \n<div\n  id=\"cta_5645526482385609365\"\n  class=\"wpb_content_element 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We explore key operational risks impacting the sell-side and strategies to help firms navigate today\u2019s evolving environment.<\/p>\n","protected":false},"author":1935,"featured_media":117393,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-article.php","format":"standard","meta":{"_yoast_wpseo_primary_category":"457","footnotes":""},"categories":[457,453,3661],"tags":[634,518,3806,531,3737,3799,3723,747,543],"series":[],"class_list":["post-117385","post","type-post","status-publish","format-standard","hentry","category-financial-services","category-markets","category-technology","tag-automation","tag-compliance","tag-data-risk","tag-electronic-trading","tag-operational-risk","tag-policy-updates","tag-regulatory-risk","tag-sell-side","tag-technology","type-article"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Adapt or else? 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