A Case of Mistaken Identity: Is There Strength in Numbers?

One year ago, TABB Group (an international research and consulting firm focused exclusively on capital markets) conducted a study to estimate the operational pain across the capital markets caused by inaccurate or insufficient financial instrument identification, as well as the benefits an open symbology can enable (see TABB Group’s 2017 report, “Building a Framework for Innovation and Interoperability: Preparation Meets Opportunity”).

One year on, TABB sought to detect and benchmark any changes since then in the pain experienced, or in firms’ attitudes toward the adoption of an open symbology framework. One key finding was that the usage of the FIGI has increased substantially overall from 2017, particularly by hedge funds, vendors, banks and brokers. For further details, see the current report “A Case of Mistaken Identity: Is There Strength in Numbers?”