UK FSA Slaps London Branch of Toronto Dominion Bank with £7m Fine for Pricing Failures
In the first of what could represent an avalanche of related fines for the financial services community, the UK Financial Services Authority (FSA) has this week fined the London branch of Toronto Dominion Bank £7 million for repeated systems and controls failings around the pricing of sophisticated financial products. This is the bank’s second fine...
SmartCo’s Mougin Talks up CounterpartyLink Partnership
Following the announcement earlier in the week that entity data vendor CounterpartyLink and SmartCo have integrated their offerings, Pascal Mougin, chairman of the EDM vendor speaks to A-Team Group about his perspective on the tie up. Mougin explains that the choice to work with the entity data vendor was a relatively simple one: “CounterpartyLink is...
Siperian Launches New Solution to Help Financial Services Companies Operationalise Customer Centricity
Siperian, a provider of a multi-domain master data management (MDM) platform, today announced the availability of its Extended Customer View Solution for financial services companies. The company’s latest solution offers a flexible and scalable approach that enables financial services companies to operationalise customer centricity while increasing business agility and speed. Siperian’s Extended Customer View presents...
OTC Val Provides Global Insurance Firm Daily Valuations of Illiquid Financial Products and Equity Securities
OTC Val signed one of the world’s largest providers of life insurance, pensions, and investment products. The firm’s investment management department receives valuation reports for their derivatives and structured product portfolio from OTC Val. These valuations are used for collateral management and financial reporting purposes and as price verification of counterparty and front office quotes....
SmartCo Teams up with CounterpartyLink for New Entity Data Solution
Given the intense focus on counterparty risk in the post-Lehman world, it is no surprise that various members of the vendor community are teaming together to tackle the entity data space. One such partnership has resulted in the integration of EDM vendor SmartCo’s DataHub solution with CounterpartyLink’s issuer, client and counterparty data. James Redfern, head...
SuperDerivatives Partners with Equinox Consulting to Offer Risk Consulting and Bespoke Solutions for Commodities Derivatives
SuperDerivatives (SD), a multi-asset front office solution, has partnered with Paris-based independent consulting firm Equinox Consulting to offer a comprehensive risk consulting and solution implementation service for financial institutions’ and corporations’ commodities derivatives businesses. Zohar Hod, vice president of strategic sales at SD, said: “By combining SD’s industry leading derivatives solutions with Equinox’s local expertise...
StatPro Signs GIPS Compliance Deal with MFC
StatPro Group, a provider of portfolio analytics and asset evaluations services for the global asset management industry, today announces that MFC Global Investment Management (MFC GIM) has signed a contract for its GIPS compliance software. MFC GIM is the institutional asset management business of Manulife Financial Corporation. Global Investment Performance Standards (GIPS) are a set...
UK Insurer Chooses Pricing Partners for the Independent Valuation of its Interest Rate and Equity Structured Products
Pricing Partners announced today that one of the largest UK insurers has selected Pricing Partners’ online independent valuation platform, Price-it Online for its interest rates and equity structured products. This UK insurer, which wishes to remain anonymous, develops and offers tailored investment solutions to its clients. The firm needed an extremely sophisticated and accurate solution...
EDM Council Publishes its Naughty and Nice List for 2010: Some Possible Points of Contention?
There can be no doubt that systemic risk is ‘in’ for 2010; regulators will make sure it’s a key focus for financial institutions via key legislation such as that around concentration risk. But has the concept of a reference data utility really replaced the idea of managed data services? A few vendors may disagree with...
Union Bank Live on Broadridge’s International Proxy Processing Services To Manage Its International Proxy Business
Broadridge Financial Solutions, today announced that Union Bank has commenced live operations on Broadridge’s Global Proxy processing solution across its Institutional Trust & Custody Services group. Union Bank, already a user of Broadridge’s domestic proxy processing services in the US, is now using Broadridge’s Global Proxy outsourcing solution for international proxy management. Union Bank’s institutional...