Why Rosetta

The industry needs a response to
technological fragmentation and opacity –
This is Rosetta

Technology across the financial industry is incredibly fragmented, reflecting the disparity of business practices that co-exist in the marketplace. For example, the same transaction is nearly always represented differently across firms, and often differently within the same organisation’s multiple systems.

This technological fragmentation comes at a huge expense today. Industry participants struggle with ever-more complex workflows, supported by sprawling systems that require constant maintenance to ensure inter-operability. This creates a major challenge for operational efficiency within each organisation, and a formidable obstacle to economies of scale through industry mutualisation.

Systems opacity is also a source of major operational risk. Beyond potential losses, this risk increasingly attracts regulatory scrutiny, with massive fines being slapped for failures in appropriate controls.

 

A digital map through technical practices –
Delivering cohesiveness and transparency

Rosetta provides a unique, digital repository and associated toolkit that consolidates the industry’s technical practices, in a way that is clear and easy to navigate. Rosetta consistently and transparently expresses not just how data are represented, but also how they are processed through actual business workflows and according to applicable rules.

Crucially, thanks to automatic generation of programmatic code, this repository is tied to practical, software implementations.

Rosetta is built as an open source asset
for the industry

To fulfil its objective, Rosetta is built as a shared industry asset, freely accessible to all participants. Think of  the ubiquitous “digital maps” of our daily lives, applied to the financial industry. That is why Rosetta has been designed from the ground-up for the open source.

Model

Cohesive model of
financial industry practices

In Rosetta, relevant data representations are modelled and their relationships exposed. Business workflows are formally mapped and tied to the data model. Rules and best practices are referenced and expressed consistently.

Most importantly, Rosetta consolidates all of those into a digital repository: an asset fit for the digital age, when most standards and practices exist in disparate supports today.

Syntax

Clear and flexible syntax
to address all industry dimensions

Rosetta provides a clear and human-readable syntax to express all these technical practices, ensuring that the model is transparently usable across the industry.

The syntax allows for a comprehensive solution capturing data as well as workflows, market practices, regulatory provisions etc. It is also flexible so that different industry participants can adapt the framework to their use cases.

Visualisation

Navigation tools
through the model

Rosetta provides tools to navigate the model in a way that can engage all relevant industry practitioners: from market participants to auditors to technologists.

Rosetta works like a digital map, with query-able linkage between different model components – Making sense of how to go from A to B and cutting through the maze of current industry processes.

Code Generation

Model tied to
software implementations

This is the revolutionary but crucial part, where Rosetta lives up to its digital expectations.

Rosetta does not just exist as a logically consistent construct in the abstract world – It is actually tied to practical software implementations. Rosetta automatically generates programmatic code, ensuring consistency between the model and actual software.