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Regulatory change: Difference between revisions
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{{a| | {{a|tech|}}By way of falsification of {{author|Daniel Susskind}}’s thesis that technological unemployment is nigh,<ref>See: {{br|A World Without Work}}</ref> consider [[regulatory change]]. It is a good example of unanticipated business change and increased [[complexity]] that is not ''solved'' by technology, but ''created'' by it. | ||
Take [[trade reporting]]. Many jurisdictions now have [[Trade reporting|trade]] and [[transaction reporting]] regimes requiring automated reporting in real-time to centralised trade data repositories on pain of significant financial penalty, the the millisecond, of all trades in the market and a range of second order metadata — 59 fields, to be precise — including [[unique transaction identifier]]s, the time, date and price of trade, the exact time of the decision to deal, the [[underlier]], the [[counterparty]], [[legal entity identifiers]] and so on. For ''every'' transaction across the market. | Take [[trade reporting]]. Many jurisdictions now have [[Trade reporting|trade]] and [[transaction reporting]] regimes requiring automated reporting in real-time to centralised trade data repositories on pain of significant financial penalty, the the millisecond, of all trades in the market and a range of second order metadata — 59 fields, to be precise — including [[unique transaction identifier]]s, the time, date and price of trade, the exact time of the decision to deal, the [[underlier]], the [[counterparty]], [[legal entity identifiers]] and so on. For ''every'' transaction across the market. | ||