The Enterprise Data Management Council (EDM Council) is a neutral business forum founded by the financial industry to elevate the practice of data management as a mandate for efficient business operations. The Council was established in 2005 as a 501(c)(6) non-profit trade association to create and implement standards for effective data management; to develop best practice recommendations for EDM implementation; to conduct data management-related research; and to provide a network for all segments of the data management industry to use for the development of business relationships.
The prime directive of the Council is to ensure that all consumers have trust and confidence that the data they rely on for decision making and business processing is precisely what they expect it to be (i.e. fit for purpose) without the need for manual reconciliation or multiple data transformations
The program of the Council is organized into four broad activities.
Data Content Standards
The Council is working to establish and implement the standards-based infrastructure essential for operational management. The core objectives are unique and precise identification of financial instruments; unambiguous identification of all business entities; consistent and legally precise language of the contracts that govern the financial industry; and a classification scheme that supports data aggregation and analysis.
Data Management Best Practices
The Council documents the ‘science and discipline’ of data management and publishes examples of best practice implementation. We are the originators of the Data Management Maturity (DMM) Model assessment methodology developed in partnership with Carnegie Mellon University. Council members place a strong emphasis on data quality and on the development of data quality assurance best practices across the industry.
Data Implications of Regulation
The Council supports the global legislative objectives of transparency, financial stability, compressed clearing and settlement cycles and cross-asset market surveillance. We take an activist role in helping to ensure that the data requirements for these regulatory (and business) goals are well defined and that the objectives of accurate/comparable data are achieved.
The EDM Council is recognized as the global meeting ground for the financial information industry. We provide a global mechanism for all segments of the financial information industry to meet and establish the long-standing relationships essential for success in today’s business environment.
Access to Information
The EDM Council creates, aggregates and analyzes information for the benefit of our members. The overwhelming majority of the content on this site is restricted to EDM Council members only. If you work for a member company (or a subsidiary) you are encouraged to register with the EDM Council to obtain a user ID and password to the restricted content.
If you require any assistance to locate specific information or have questions on the activities of the EDM council please contact Carole Mahoney.