SGSS’s De Nexon Highlights Challenge of Moving to the ISO 20022 Messaging Format
The decision to move to the ISO 20022 message format is not being taken lightly by the majority of the financial institutions in the market; Société Générale Securities Services (SGSS) for one is currently weighing up the ability of its clients and counterparties to support the standard and the migration costs involved. Eric De Nexon,...
Aim Software Plans Launch of a New Corporate Actions Scrubbing Module for the Start of 2011
Data management solution vendor Aim Software is planning to launch a scrubbing module for corporate actions in the first quarter of next year, according to Josef Sommeregger, vice president business development and sales at the vendor. The move is a reaction to client demand and also proved a deciding factor in SimCorp’s recent decision to...
Citi to Act as Proving Ground for XBRL Tagging in Corporate Actions Space
Following on from the release of its case study earlier this year, XBRL US has indicated that it is working with global custodian Citi on a pilot programme to prove the benefits of XBRL tagging in the corporate actions space. The pilot is focusing initially on tests on dividend announcements issued by American depository receipts...
Barrage of New Regulation Could Cause Death by Data Drowning, Warns ISMAG’s Gubert
The slew of new regulations entering into force over the next few years, including a new iteration of MiFID, the multiple legislative changes resulting from the Dodd-Frank Act and the Securities Law Directive (to name just a few), will result in such an increase in reporting requirements that firms may find themselves in danger of...
Broadridge to Expand its Business Process Outsourcing Services
Broadridge Financial Solutions, a technology services and outsourcing company to the global financial services industry, today announced a major expansion of its outsourcing solutions offering. In response to market demand, Broadridge has extended its business process outsourcing (BPO) services beyond securities processing functions and, in order to offer greater flexibility to global financial institutions, now...
ECB Indicates Preliminary Price of 13 Cents Per Instruction for T2S Settlement with 30 CSDs on Board
The European Central Bank (ECB) has released its preliminary price estimates for settlement on its Target2-Securities (T2S) settlement system, due to be launched in September 2014, which indicate that if all 30 European central securities depositories (CSDs) join, settlement could be as low as 13 cents per settlement instruction. This will therefore essentially split the...
DTCC Opts for Ex-Morgan Stanley Exec Garrison to Head up Technology Development
To support its ambitions to set itself up as utility provider and to ensure that it stays ahead of the technology development curve, the Depository Trust & Clearing Corporation (DTCC) has recruited ex-Morgan Stanley managing director Robert Garrison to head up its IT division. Garrison will join as chief development officer for the division in...
SmartStream Announces Partnership with Longtop to Distribute TLM Solutions Across China
SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced that it has formed a new partnership with Longtop, a software development and solutions provider targeting the financial services industry in China. Longtop will integrate SmartStream’s suite of Transaction Lifecycle Management (TLM) solutions to complement its existing technologies and services. Longtop’s expertise across the financial...
Issuer Community to Remain a Sticking Point for XBRL in Corporate Actions, Says SmartStream’s Middendorp
The issuer community is likely to remain a sticking point for the Swift, XBRL US and Depository Trust & Clearing Corporation (DTCC) initiative to introduce XBRL data tagging to issuer documents for the foreseeable future, according to Kees Middendorp, senior consultant for corporate actions at solution vendor SmartStream Technologies. Although the introduction of XBRL to...
Information Mosaic’s Bermingham on Swift’s 2015 Strategy, Standards and a Utility Future
Reference Data Review catches up with Gerard Bermingham, vice president of business strategy for the Americas at vendor Information Mosaic, about his views on Swift’s new 2015 strategy and how the industry network operator should figure in the standards development process and the reference data industry of the future. How well do you think the goals...