Disparate markets and complex trading call for smarter exceptions management, argues Donal O’Brien, business development director of Coexis.

If Societe Generale’s reference data systems had been a bit wiser to the activities of its users, could the actions of Jerome Kerviel and the French bank’s subsequent £3.7bn loss have been avoided? The need for increasingly complex interactions between central reference data and distributed transaction processing systems is driving many banks and brokers to re-evaluate their processes. But it’s only through the application of intelligent exception management, sometimes known as straight through exception processing (STEP), that they can really grasp the nettle.

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