RE: Derived data activities

Hi Ben...All...

My read on this would be that deriving data would not be uniquely applied to each of the activities, however products created from derived data could touch these activities whilst active.  Some of the activities may not intuitively seem to leverage derived data (fund administration, instrument pricing), however in the Asset Management and Equity Derivative worlds there are practices of creating funds for clients or OTC products using benchmarks that are derived from either index or security values.  Over the lifecycle of the products these could be subject to fund accounting, instrument pricing, etc.

In risk management, we have Value At Risk (VaR) cost models where customization of securities are required to determine how much capital is required to hold in support of open positions.  These typically are in the structured finance world, however it would be possible to see similar based on OTC products, mandates, etc.

Thoughts from others?

Kind regards,
Mark Durenberger
Director - Global Procurement
Market Data Category Manager
+1(201)593-1020
mark.r.durenberger@db.com
Access Global Procurement Services portal Here<https://mydb.intranet.db.com/groups/global-procurement-user-services>

From: Whittam Smith, Benedict (Refinitiv) [mailto:benedict.whittamsmith@refinitiv.com]
Sent: Monday, May 11, 2020 9:09 AM
To: public-md-odrl-profile@w3.org
Subject: Derived data activities

In one of the categories of non-display use, DBAG lists a number of permissible activities: risk management, profit and loss calculation, portfolio valuation, quantitative analysis, fund administration, fund accounting, portfolio management, and instrument pricing (e.g. certificates).

Do all of these activities involve derived data - and are those derivations always "irreversible" and "non-substitutive"?

Ben


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