DATA GOVERNANCE SYSTEM, MODEL AND PROCESS FOR MULTI-SOURCE FINANCIAL REFERENCE DATA USING AUTOMATED BUSINESS LOGIC

摘要

A system, apparatus and method maximize the accuracy of semi-static data employed by market participants. In various embodiments, a precise definition of multiple reference data elements is stored, and for a given reference data element, a determination is made as to how much of the definition each of a plurality of stakeholders knows about the reference data element, and what the strict logical relationships are between these knowledge limitations. Based on that determination, the reference data element is monitored over time, and a determination is made as to which stakeholder must supply, confirm, challenge or reject which portion of information about the reference data element, and at what time. In various embodiments, each reference data element is defined using automated business logic, and the automated business logic also orchestrates the system processes, resulting in an unmodifiable ledger of all actions taken, all data added, modified or removed, to thereby make the resulting data available to those needing it to proceed with a financial transaction.