Data Intensive Technologies for Financial Regulatory Systems

Abstract

We briefly review three U.S. regulatory initiatives in the context of data intensive technologies. We compare the conventional data warehouse approaches versus the newer approaches based on exploiting parallel computation, from data appliance to the open source “big data” approaches. Several existing financial applications are reviewed and implementation tradeoffs are discussed. The goal is to help regulators understand these technologies and to help technologists understand the new financial regulatory initiatives.

Keywords: Dodd-Frank Compliance, Consolidated Audit Trail, Regulation SCI, financial technology, federated database, parallel computation, data warehouse appliance, Hadoop, big data

JEL Classification: O32, O33, G18