Firms Being Forced to Invest in Counterparty Risk Systems Due to Business Concerns, Says Algorithmics
Rather than pressures related to regulation, the business concerns of the front office are driving a spate of investment into revamping firms’ counterparty risk systems, according to a recent survey conducted by risk solution vendor Algorithmics. The investments are focused largely on credit value adjustment (CVA), which allows for more dynamic pricing of counterparty credit...
CetrelSecurities Announces Today its First Customer in Asia
CetrelSecurities, a specialist in providing ASP services to financial institutions with more than 20 active clients using the service announced today that it has acquired its first customer in Singapore. Being a regulated company controlled by the Luxembourg Financial Markets Authority, CetrelSecurities, a subsidiary of the Luxembourg based Cetrel, focuses on the provision of outsourced...
Fiserv Loses Harries to DST Global Solutions, Mulkeen Also Out the Door, But What of its eVent Business?
Following a rather disappointing end of year quarter for its financial segment and a dearth of wins for its corporate actions solution eVent over the last 12 months, it seems Fiserv has suffered yet another blow this month with the departure of two of its key staff members: former vice president of its Investment Services...
Standard Chartered Selects UnaVista for Reference Data Solution
The London Stock Exchange announced today that Standard Chartered, a major international bank, has selected UnaVista as its global repository for reference data. Standard Chartered recently became the first bank to benefit from the Exchange’s partnership with FactSet Research systems, and are now receiving counterparty and issuer linkage data from FactSet through UnaVista. Standard Chartered...
UK FSA’s Huertas Talks up Practical Implications of Living Wills Legislation, Including Counterparty Data Requirements
Judging by the number of references that have been made to living wills legislation during reference data related events and conferences recently, the market is already well aware of the data challenge awaiting it. However, for those that may have been asleep for the last few months, Thomas Huertas, director of the banking sector for...
Pricing Partners Releases the Multi Curve Method to Account for Market Dislocation in Interest Rates
Pricing Partners announced that the Price-it Library now supports the Multi Curves Method on yield curves to account for market dislocation in interest rates. This announcement comes at a time when the spreads between EONIA, EURIBOR 1M, 3M, 6M and 12M have become major concerns, diverging from a few basic points to about a hundred...
SuperDerivatives Chooses Fitch Solutions for CDS Pricing
Fitch Solutions, a division of the Fitch Group, is pleased to announce that SuperDerivatives (SD), the derivatives pricing benchmark and leading multi-asset front office system, has chosen Fitch’s CDS Pricing Service to further strengthen its existing credit derivatives valuation solutions. “As credit markets have evolved, CDS have become an integral part of the investment and...
SIFMA Carries Federal Agency Bond Prices for Free on investinginbonds.com
The Securities Industry and Financial Markets Association announced that it now carries price data for approximately 25,000 federal agency bonds on its investinginbonds.com website. The new data is available via a feed from the Financial Industry Regulatory Authority (FINRA) following an expansion of its Trade Reporting and Compliance Engine (TRACE) to include debt issued by...
SEC Continues to Push for Global Accounting Standards, Kicks Off Research into IFRS Implementation
In a move that may allow the practices of the world of pricing and valuations to become more harmonised globally, the Securities and Exchange Commission (SEC) has indicated it is keen for a single set of high quality globally accepted accounting standards to be implemented. To achieve this goal, the regulator has finally begun to...
GBST’s O’Brien Discusses ITG Win, Broker Approach to Corporate Actions Processing and Asian Progress
Following its move into the corporate actions space in November last year, GBST has bagged its first client in the form of agency brokerage and financial technology provider Investment Technology Group (ITG) and has a number of promising prospects in the Asian region poised to sign on the dotted line, says Donal O’Brien, who manages...