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The EDM Council is a non-profit trade association created by leading financial industry participants. It's primary purpose is to address the issues and challenges associated with managing data content as a business and operational priority. This helps ensure that the data used for business processing and regulatory oversight is trusted to be fit-for-purpose, accessible when needed, easy to integrate into downstream systems and comparable across multiple sources without the requirement of additional transformation or the need for manual reconciliation.
- Founded: August 2005 as 501(c)(6) non-profit association
- Operating Model: Neutral business forum for all segments of the industry (originators, distributors, consumers, and regulators).
- Board of Directors (2010): Babson Capital, Bank of America, Barclays, BNY Mellon, Broadridge, Citigroup, Credit Suisse, Deutsche Bank, * Federal Reserve Bank of NY, GoldenSource Corporation, HSBC, IBM Corporation, JP MorganChase, Lloyds, M&G Investments, Nordea Bank, Northern Trust, Royal Bank of Canada, Standard & Poor’s, State Street Corporation, SunGard, Thomson Reuters (*current Chair)
- Areas of Activity
- Standards: Implement standards required for unique and precise identification of financial instruments, legal entities, data attributes and classification schemes
- Research: Collect metrics, conduct research and publish best practices related to EDM implementation
- Network: Provide mechanism for members to share experiences through peer-to-peer interaction
- Supply Chain Management: Aggregate requirements and facilitate industry dialogue related to better supply chain management, data manufacturing, implementation tactic, data quality assurance, commercial strategy and regulatory compliance
- Active Projects
- Semantics Repository: built and maintain the standard for terms, definitions and business relationships (www.hypercube.co.uk/edmcouncil)
- Legal Entity Identification: catalyst for standard identifier for business and legal entities within ISO
- Data Management Maturity: auditable mechanism for defining and benchmarking operational best practices (in partnership with Carnegie Mellon University)
- Reference Data POC: project to demonstrate the viability of source mark-up from the point of data issuance through consumption using industry standards. The current POC focuses on MBS risk applications (in partnership with IBM Research)
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Fact Sheet