What is reference data?

This is a general term used to describe information which helps traders classify different financial instruments. This can include information such as the name of a security, the exchange it's traded on, its expiry date and other useful details.

Where have you heard of reference data?

This type of data is widely used by traders and investors. It can range from basic information such as the identity of the seller and buyer of a security, to complex details covering all the information needed for a highly complex transaction.

What you need to know about reference data.

It’s used to help traders complete financial transactions and settle deals. Over the last few years, the financial service industry and various regulators have tried to standardise the data used in financial transactions. However, this is a complicated task because of rapidly changing markets, changes in terminology as well as the huge number of data elements involved in different transactions. So the effort to standardise reference data is an ongoing effort among regulators that’s unlikely to be completed in the near future.

Find out more about reference data.

To learn more about how traders analyse deals, check out our guide to market data.