How Often Do You Screen Counterparties for Risk?
An interesting recent poll about compliance shows that 45% of firms screen their counterparties for risk on a daily or weekly basis. But a quite significant 39% still screen only annually. A remaining 10% screen monthly or quarterly, and 6% just one-time only at on-boarding. We can only believe that the frequency with which firms...
LEI Foundation Fixes Fees to be Paid by LOUs to Fund Global LEI System
The Global Legal Entity Identifier Foundation (GLEIF) has fixed the licence fee that Local Operating Units (LOUs) must pay to the foundation for each LEI they issue at $20 a year. It has also introduced a member credit fee of $10 per LEI that LOUs must pay to the foundation to supplement funding of initial...
Chair of LEI Foundation Details Final Push to Complete Global LEI System
The formation of the Global Legal Entity Identifier Foundation (GLEIF) and the first meeting of its board of directors late last month signal a final push towards completion of the Global LEI System (GLEIS). A CEO for the foundation is expected to be appointed in October and will manage the Central Operating Unit (COU) of...
European Fund Administration Benefits from AIM Portfolio Pricing Solution
European Fund Administration (EFA) has deployed AIM Software’s GAIN Portfolio Pricing business application to manage increasing regulatory requirements around portfolio pricing and meet growing client demand for more frequent net asset value (NAV) calculations. The AIM portfolio pricing application, which is based on the company’s GAIN enterprise data management platform, is the central component of...
Global LEI System Takes Major Step Forward with Formation of Foundation
The Global Legal Entity Identifier System (GLEIS) has taken a major step forward with the establishment and first meeting of the Global LEI Foundation (GLEIF). The foundation will develop the Central Operating Unit (COU) of the GLEIS and take over management of the system from the Regulatory Oversight Committee (ROC) of the LEI over the...
Oversight Committee of the Global LEI System Moves Common Data File Forward
The Regulatory Oversight Committee (ROC) of the Global Legal Entity Identifier System (GLEIS) has published the second part of a common data file format for pre-Local Operating Units (LOUs). This follows the introduction in February 2014 of a first common data file format for pre-LOUs to use in publishing LEI data or communicating with other...
Vulpes Cuts Costs with Markit’s Expanded Portfolio Valuations Service
Vulpes Investment Management has increased data accuracy and decreased vendor and technology costs by deploying valuations, risk and straight-through-processing (STP) provided by Markit. The Singapore-based investment manager was using different vendor systems to support portfolio management, execution, evaluation and risk across asset classes including exchange traded derivatives, private equity and illiquid debt holdings, but wanted...
Markit Integrates MarkitSERV and Valuations Service to Increase Efficiency and Decrease Cost
Markit has connected its MarkitSERV trade processing service for OTC derivatives to its portfolio valuations service, allowing trades processed by MarkitSERV to be captured as they are confirmed, portfolios to be updated and valuations made without the need for a separate trade feed. As well as increasing operational efficiency, the connectivity is expected to reduce...
Markit and Genpact Release KYC Service
Markit’s tie-up with business process specialist Genpact, which was made back in September 2013, has come to fruition in a Know Your Customer (KYC) service designed in conjunction with Citi, Deutsche Bank, HSBC and Morgan Stanley. Called Markit | Genpact KYC Services, the companies’ KYC offering is based on Markit’s Counterparty Manager service and Genpact’s...
Data Management Summit: Managing Entity Data with the Global LEI
The global Legal Entity Identifier (LEI) system is growing in terms of the number of operational pre-Local Operating Units (LOUs) within the system and the number of LEIs they have issued, but it remains incomplete and continues to pose data management problems without a Central Operating Unit (COU). The status of the global LEI system...