It is clear that Investment of Book of Records (“IBOR”) as a topic for conversation is rising in profile in the financial services industry, but what does it really mean?
Our industry, like many others, is drawn towards acronyms to give a heading or title to specific topics, processes or ideas, with a view to identifying commonality and understanding of key elements with connected themes.
IBOR is not a new acronym; ‘Investment Book of Records’, as a term, has been with us for some time.
It is acknowledged that some organisations already have IBOR solutions as a book of record platform, often reflecting positions from traded (as opposed to settled) positions. For some organisations, IBOR could be more accurately described as the aggregation of data held in multiple platforms, locally or globally; often enhancing this with intraday activities and management, manually or automated. There are existing IBOR instances, where internal and external reference data is centralised and supports a number of business processes, not all directly associated with investment data management. Are they all the same in design, purpose and function? - No, there are many distinct differences, some closer to middleware facilities than recognised ‘ABOR’ (Accounting Book of Records) models.