Trade Breakdown Lane

Processing glitches plague between 30-45 percent of all trades, a persistent and little-known problem within the financial services industry, imparting an oversized cost burden on back office budgets, as compared to more mainstream expenditures like data management. The total cost is estimated at $1.2 billion for 2016, but a new bank-run utility aims to build a clean, accurate securities reference data file and use it to fix trade errors.