A-Team Insight Author: A-Team
Carne Recruits IFS Founder to Join Expanding Team of Independent Fund Directors
Carne Global Financial Services has added a senior figure in the Irish funds industry to its growing list of experienced independent fund directors. Mary Murphy joins Carne as a managing director, Alternatives, and will be based in the firm’s Dublin office. Murphy is a well-known figure in the Irish funds business, having been a founder...
Euroclear UK & Ireland Slashes Fund Transaction Reconciliation Fees
Euroclear UK & Ireland’s charges to fund promoters for processing reconciliation messages emanating from the fund distributor community have been lowered substantially, with immediate effect. Fund promoters that receive fund distributor data requests concerning fund unit balances for reconciliation purposes (known as reconciliation messages) will be charged GBP 1.00 for the first 250 messages per...
More on Recent News from Spread Networks
I’m pretty focused on A-Team’s “Business & Technology of Low-Latency Trading” events coming up in London in less than two weeks, and in New York City at the month end. We’ll have Brennan Carley of Spread Networks on a panel in NYC, and so I’m reminded that Spread has put out a couple of interesting...
DTCC Appoints Ex-E*Trade and Citigroup Exec Druskin as its New Chairman
In the latest of its recent bout of hiring, the Depository Trust & Clearing Corporation (DTCC) has hired ex-E*Trade Financial Corporation chairman and ex-Citigroup ops and technology head Robert Druskin as its new chairman of the board. Druskin’s appointment is likely part of the firm’s bid to position itself as a neutral body in the...
UK FSA Sends Out “Dear CEO” Letter Illustrating its New Interim Structure
The UK Financial Services Authority (FSA) has this week sent out a letter to CEOs detailing its new regulatory structure, as required under the recent government reforms to tackle oversight issues within the UK financial markets. The new structure includes the eventual transfer of the power of oversight of the banking and insurance industries to...
FSOC, FSB and BCBS Aim to Nail Down the Systemically Important Financial Institution Criteria
The US Financial Stability Oversight Council (FSOC), which has been charged with monitoring systemic risk across the US financial services industry, is currently embroiled in debate about what constitutes a “systemically important financial institution” (SIFI) with the Securities and Exchange Commission (SEC) and the industry at large. The European Financial Stability Board (FSB) is also...
QuIC Partners with Solum to Enhance CVA Solution
Markit, a global financial information services company, today announced that QuIC Financial Technologies (QuIC) has agreed to license calculation methodologies developed by Solum Financial Partners to enhance the calculation speed of its credit value adjustment (CVA) solution for counterparty risk managers. CVA quantifies the credit risk inherent in OTC derivative transactions and is integral to...
ISDA Announces New Commitments to Global Supervisors to Help Make OTC Derivatives Markets Safe and Efficient
The International Swaps and Derivatives Association, Inc. (ISDA) jointly submitted a letter with market participants and industry associations to global supervisors. The letter is the seventh in a series that publicly details the industry’s roadmap for making the over-the-counter (OTC) derivatives markets safe and efficient. It outlines commitments to improve four key areas: increasing standardisation;...
MSCI Launches Risk Weighted Indices
MSCI, a provider of investment decision support tools worldwide, including indices, portfolio risk and performance analytics and corporate governance services, announced today that it has launched three new risk-based indices. These alternatively weighted indices are based on three standard flagship MSCI indices and include the MSCI ACWI Risk Weighted Index, the MSCI Emerging Markets Risk...
Ex-GoldenSource Exec Raeves Joins TowerGroup as Post-trade Focused Research Director
Following his departure from EDM vendor GoldenSource at the end of last year, ex-senior vice president of strategic business development and marketing Gert Raeves has surfaced at analyst firm TowerGroup as a research director in the capital markets team. Raeves, who has been a frequent speaker on the data management circuit, will now be covering...