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CTG Online News
Tue, 12 Nov 2013 14:20:00 EST

Information Sharing and Financial Market Regulation Project Highlighted by Obama Administration

CTG and the Institute for Financial Market Regulation (IFMR) are pleased to announce that their upcoming workshop on Information Sharing and Coordination Challenges in Financial Market Regulation is being highlighted by the Obama Administration as a high-impact collaboration promoting “Data to Knowledge to Action” for growing the economy. Data to Knowledge to Action: Building New Partnerships was launched today at an event sponsored by the White House Office of Science and Technology Policy (OSTP), National Science Foundation, and other agencies in the Networking and Information Technology Research & Development program.
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The Obama Administration is encouraging multiple stakeholders, including federal agencies, private industry, academia, state and local government, non-profits, and foundations to develop and participate in Big Data initiatives across the country. CTG and the IFMR, a collaboration between the University at Albany and Albany Law School, are focused on contributing to the stability, openness and fairness of financial markets through the development of a research agenda.

Our work together is drawing attention to how recent changes in finance, technology, market structure, and regulation have fundamentally altered financial markets and how the scale and scope of financial information—Big Data—has qualitatively changed business processes and regulation; transactions today have become much more complex, dispersed, and unevenly-regulated.

Through a National Science Foundation funded workshop being held on November 14th in Washington, DC, the partnership will bring together experts from the financial services industry, regulatory bodies and academia to examine the information sharing and collaboration challenges created through data complexity and volume, the dynamic and interconnected nature of markets, financial instruments, technologies, and institutions working within regulated markets and the regulatory process. Participants will work collaboratively to outline a research agenda including a set of recommendations for funding priorities related to research in information sharing and market stability.

The invitation only workshop will be a mix of formal remarks and plenary and small group moderated discussions. Two panels focused on how financial and regulatory organizations, individually and as parts of a complex system, are and should implement technology and utilize the resulting big data movement shaping current and future financial market regulation will be used to frame workshop discussions.