Mark to Market Discussions Continue at Financial Crisis Advisory Group, US Government Plans More Talks
The Financial Crisis Advisory Group, which was formed last year by the Financial Accounting Standard Board (FASB) and the International Accounting Standard Board (IASB) to tackle the financial crisis, has this week discussed how best to solve the issues surrounding fair value pricing. The group discussed the problems to do with mark to market accounting...
SuperDerivatives Promotes Sela to FX and Cross Asset Product Manager
SuperDerivatives has promoted current pre-sales director, Udi Sela, to the position of FX and cross asset product manager. Sela, who has been with the vendor since 2005, will now lead the company’s FX and cross asset product functions and will report directly to Ravit Mandell, vice president for products. Prior to SuperDerivatives, Sela worked in...
Italy’s Interbanca Picks SunGard’s Reech RiskHedge for Complex Valuations
Italian banking group Interbanca has selected SunGard’s risk management engine, Reech RiskHedge, for the valuation of its complex portfolios. Andrea Liso, head of information systems at Interbanca, explains that the firm decided to move to a single risk management platform to simplify the process of calculating the value at risk (VaR) of its positions. The...
Marshall & Ilsley Trust Company Sticks with XSP for Corporate Actions
Marshall & Ilsley Trust Company, a subsidiary of Wisconsin-based bank Marshall & Ilsley Corporation, has signed a multi-year renewal agreement for XSP’s v5 corporate actions solution. According to Wayne Klomstad, senior vice president of Marshall & Ilsley Trust Company, it decided to extend its agreement with the vendor to cover the eTRAN module because of...
S&P’s Capital IQ Integrates JunctionRDS UK Share Register Data onto Platform
Standard & Poor’s Capital IQ business has integrated UK share register data from London-based independent shareholder analysis house JunctionRDS into its platform. The data set allows users to view detailed ownership information on listed UK companies with breakout analysis of nominee shareholdings at both the investment manager and beneficial owner level, says the vendor. Ian...
Markit Rolls Out XSP Platform in London, New York and Singapore
Following the extended implementation of its solution at index provider FTSE Group in December, XSP has completed the rollout of its v5 corporate actions platform at Markit in London, New York and Singapore. Markit will use the solution to assist in the automation of some of the complex processes within its bespoke index calculation and...
EACH Supports the Introduction of a CCP for OTC Derivatives
The European Association of Central Counterparty Clearing Houses (EACH) has published a paper that indicates its support for the introduction of central clearing counterparties for the OTC derivatives markets. The industry association believes a CCP can serve as part of the blueprint to effectively mitigate counterparty risk and improve operational efficiency in the OTC derivatives...
Fed’s Bernanke Champions Mark to Market But Says Illiquid Securities Issue Needs Resolution
Federal Reserve chairman Ben Bernanke has added his voice to the debate about mark to market accounting rules this week. Bernanke is in favour of the controversial accounting rules, which require companies to write down assets every quarter to reflect market value, but cautions that regulators urgently need to deal with the issues surrounding the...
Markit Launches Multi-bank, Cross Asset Client Valuations Platform
Following 12 months of development, Markit has finally launched its new multi-bank, cross-asset client valuations platform with much fanfare. The new platform has been developed in partnership with six banks and a couple of buy side firms and purports to provide a secure, standardised view of OTC derivative positions and valuations across counterparties. The platform,...
Fiserv Rebrands, Streamlines Management and Launches Global Ad Campaign
Following its acquisition of CheckFree at the end of 2007, Fiserv has finally decided to rebrand the business under its own moniker. The vendor claims this rebranding exercise and global advertising campaign represents its new consolidated approach to the financial technology market. The management team and organisational structure have also been streamlined (and we all...