What type of data is primarily described as static in financial systems?

Reference data is primarily described as static in financial systems because it includes information that rarely changes and serves as a foundation for various financial instruments and transactions. This type of data encompasses fixed elements such as securities identifiers (like CUSIPs), counterparty details, currency codes, and other essential attributes that remain constant over time.

Unlike real-time trading data, which is constantly updated to reflect the immediate status of trades, or dynamic event-driven data that changes based on specific triggers (like price movements or significant corporate actions), reference data remains stable, generally requiring periodic updates rather than real-time adjustments. Similarly, market analysis reports can vary based on the current trends and are usually produced at intervals that capture dynamic market conditions. Therefore, reference data stands out as the static element critical for keeping the foundational aspects of financial systems organized and consistent.