Generically speaking, the use of static data (also known as reference data) is a significant factor in enabling a firm to process trades of all types in a highly efficient manner, and to achieve Straight Through Processing (STP).
Static data is an internal store of information that remains constant or changes infrequently; it facilitates automated and repeated use of essential information which must be added to the basic details of an individual trade.
If static data is present within the relevant systems of a firm, it enables immediate capture of an individual trade’s details and subsequent enrichment of additional (but essential) information.
Different categories of static data are necessary, including:
and in each case, the necessary static data is explored within this chapter.
Such data can be held entirely manually (i.e. in handwritten form), or within a software system repository; how such information is held ...