The Bank of England is the central Bank of the United Kingdom, established in 1694. Representatives from the Bank’s Data Analytics & Modelling team will discuss the Bank of England's journey to delivering a Big Data capability and how the Hortonworks HDP platform is helping us deliver on our mission statement of “promote the good of the people of the United Kingdom by maintaining monetary and financial stability". We will explore the challenges we've faced, how we have overcome some of these and those that remain to be conquered. We will also present our strategy for the Bank’s future Big Data platform as we look to scale up further in the coming years.
We will focus in particular on our first successful ‘Big Data’ production system. This exists in response to the financial crises of 2008 and the subsequent push to make the derivative markets safer by reducing systemic risk. In Europe this was delivered through the European Market Infrastructure Regulation (EMIR). We will explain the Bank of England’s role in monitoring UK entities within this important market and describe the significant challenges facing our team in building a data analytics platform to facilitate this