Regulations are pushing firms to collect, store and organize data in new and complex ways. Ari Rubenstein, co-founder and CEO of Global Trading Systems, said this is creating a glut of data for firms and an opportunity as well. Managing big data in innovative ways, he says, will be the next competitive edge for firms.
Rubenstein’s firm has developed a solution which it believes can efficiently help firms manage and store trading data for regulatory and compliance needs. For him, that will help give firms an advantage over the competition.
“The modern American market of today is requiring market makers to innovate in ways like never before,” he said. “The huge technology costs are really separating firms that maybe before were looking for a return on investment, to firms that can see the big picture and think about it terms of return on innovation.”
Much of this being pushed by the rules and rollout of new reporting requirements tied to the Dodd-Frank Act. Firms in the marketplace, brokers, proprietary trading firms, banks, hedge funds and others, are now required to store and recall detailed information about trades for the Securities and Exchange Commision and Commodity Futures Trading Commission.
“We’re constantly researching and developing in innovative ways, of storing the oceans of financial information, created during the trading lifecycle,” he said. “You need to do that efficiently because you need to balance that challenge with the challenge of remaining competitive.”