About Us

FIORD is a group of organisations working together to create and promote a Financial Industry Ontology for Risk & Regulatory Data. 

Such an approach, combined with a suite of tools and reporting, would allow a regulator like the recently proposed EU Single Supervisory Mechanism or a large market participant to:
  • Perform complex and rapid queries on the large volume of trades that can be generated in just seconds on a set of trading platforms run by exchanges and market participants in any particular market or the market overall;
  • Use these queries to analyse market activity, potentially in real time and detect hazardous events as they occur allowing immediate response, speedy resolution and detailed after action review of such events;
  • Provide collated data to a suite of reporting tools that would allow rapid analysis and understanding of the changing position in the market in a visually intuitive style through trigger mechanisms and other display and dash boarding devices
Participants
The FIORD Working Group has twelve participants from several European countries. This combines large data industry firms (EMC) with top-academia (UCC, Durham, UCD, UCL), high-tech SMEs (Ubitech, Beinformed, Peracton, Financial Intergroup & TFC) with 2 End Users financial institutes (AWM, Nomura) as well as our internally devised FIORD User Group.




Vision
The gathering, querying and analysis of data have been an area that has increased in recent years as the volume and complexity of data has grown. 
This has led in turn to the concepts of "Big Data". 

The Financial Services industry is amongst the most data driven of industries. However, the industry has relied on older technologies to handle this ever-increasing data and analytics burden.  

The regulatory environment for this industry requires an understanding of multiple types of data.

The proposed FIORD platform will allow existing platforms to be kept in place and through common definition of the data within the existing systems enabling a convenient and efficient way to access this data using new FIORD tools and methods. We refer to this as the Big GRC Data FIORD platform.