Data Standards for Order Life Cycles
Data Standards for Order Life Cycles
Overview of the SFC’s recent circular on new data standards for licensed corporations
The Securities and Futures Commission on 31 July 2019 issued a circular requiring Licensed Corporations to comply with new data standards when submitting trading-related data upon request. The new requirements will come into effect on 1 October 2020 and are aimed at developing an industry-wide convention for data validation and the submission process.
DS-OL aims to facilitate the reconstruction of the order life cycle from order receipt through final execution or cancellation. DS-OL will decompose the order life cycles into discrete events (excluding post-trade events) and will assign a unique identifier to each parent order and be recorded alongside all the events throughout the order life cycle.
KPMG highlights the key considerations and challenges of DS-OL, and provides a roadmap for licensed corporations to become DS-OL ready.
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