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Japanese stocks actually trade with numeric tickers. 9432 is the ticker for NTT. Perhaps there is a bug in the lookup from the name in Japanese characters to th
by seanhunter 4y ago
Japanese stocks actually trade with numeric tickers. 9432 is the ticker for NTT. Perhaps there is a bug in the lookup from the name in Japanese characters to the number giving two distinct rows based on whether the name is "Nippon Telephone & Telegraph" or "Nippon Telephone and Telegraph" once translated and then they're using the numeric ticker to look up the underlying data twice.
Not sure it's worth writing an entire article about - bugs in financial data are extremely common. When I worked in equities whenever tehre was a corporate action (split, reverse split, ticker change, merger, dividend etc) in some stock in which we had a position it was always of concern whether the market data providers would make a mistake somehow. Since we had a lot of positions you would tend to get at least one of these errors every few days. Typical mistake would be like, stocks in London typically are actually in GBp (pence) in the marketdata feeds but would often need to be translated to or from GBP (pounds) for some systems. You might see a split or reverse split and the marketdata provider briefly publishing the price off by a factor of 100 for this reason. Now imagine you hold some kind of option or autocallable derivative or whatever. According to the marketdata this should now exercise. However everyone knows this happens and takes care of it. Actually in some contracts we would occasionally see the terms state something like "The price will be the return value of EQ VOD LN HP<GO> on bloomberg at X time" meaning that if bloomberg publishes a mistake you have to run with it.
- hnbear 4y agoThe amount of effort put into getting reference data correct at big banks is huge, but the volume of data is insane and often there are no good places to verify it. I had similar experiences when supporting the ref data platform. On one system holding ETF and Index data we had several thousand products each holding between 10 and a thousand components (eg DJI through Russel 3K). On each product and each component of it there are multiple major fields that need to be correct (price, quantity, multipliers, etc). Any mistake throws off the risk systems and trading in those products (eg basket trading an index, delta hedging, etc) Millions of data points, and single data errors caused big trading errors. The data itself could be wrong from the actual providers too, taking debugging into a whole extra level of complexity.
- nly 4y agoSettlement dates, and dates on derivatives and futures are also hell. And binary floating point price and volume representation is still rife in the industry, leading to all kinds of pain.