Regulation and Risk Will Force Banks and Hedge Funds to Tighten EDM Controls, Says Tabb Group
Current market conditions and the threat of impending regulatory changes will force banks and hedge funds to revise their enterprise data management (EDM) strategies to improve transparency, according to recent research from analyst firm Tabb Group. Adam Sussman, director of research at the firm and author of the report, reckons requirements for better risk management...
An Enterprise Pricing Policy is Needed for the Valuation of Complex Products, Says Numerix and CMA
Financial institutions must develop internal support for complex products with the implementation of an “enterprise pricing policy”, according to a recent report by Numerix and CME Group-owned Credit Market Analysis (CMA). The report discusses the importance of consistent pricing policies for the accurate valuation of complex derivatives and structured products and outlines the implementation process...
Kanji Pitamber Selects GFI Fenics FX for Pricing and Risk Management
Indian financial services group Kanji Pitamber & Co has selected GFI Fenics FX, a pricing and risk management system for foreign exchange options from GFI Group, for use in its Mumbai head office. According to head of currency options at Kanji Pitamber, Unnati Parekh, the firm licensed the system, which covers pricing and analytics, in...
Capita Financial Group Selects Interactive Data for Pricing and Reference Data
Outsourcing service provider Capita Financial Group has selected Interactive Data to become its primary data vendor for pricing and reference data. Karl Midl, programme director at Capita Financial Group, which is a subsidiary of Capita Group, indicates that the data feed has already gone live for data including corporate actions and income data. Midl explains...
SEC and FASB Work Towards Mark to Market Guidelines
Despite the ongoing controversy surrounding the US mark to market accounting rules over recent months, legislators have thus far refused to give up on them. Last week, the chairman of the US Senate Banking Committee, Christopher Dodd, confirmed that the rules would be modified but the underlying standards would remain in place. The rules have...
XSP Promotes Fullam to Senior Director of Business Strategy, Relocates Him to NYC
Corporate actions software vendor XSP has promoted its current principal consultant Paul Fullam to the position of senior director of business strategy and relocated him from its London office to its New York office. In his new role, Fullam will assume responsibility for relationships with key industry associations and organisations such as ISITC and Swift,...
Accuity Completes Acquisition of CB.Net
Accuity has completed the acquisition of payments reference data vendor CB.net as part of its efforts to bolster its customer base and extend its offering. Hugh Jones, president of payment routing data vendor Accuity, explains that CB.Net’s existing relationships with the European Payments Council (EPC) and the Euro Banking Association (EBA) were of particular appeal....
EDI and S&P Partner to Launch Financial Corporate Action Data Portal Company
Exchange Data International (EDI) and Standard & Poor’s have banded together to launch a new company aimed at providing financial institutions with corporate action and dividend data for companies listed globally. The new company, which has been dubbed FinDataPortal (FDP), launched in November last year and is aimed at providing low cost access to this...
Counterparty Risk Infrastructure in the Current Market
By Neil McGovern, product strategy director at Sybase History may judge the failure of Lehman Brothers as the event that caused the most changes in financial services institutions in the credit crunch of 2007 to 2009. The failure of an institution that was never meant to fail, especially one such as Lehman, has changed attitudes...
Buy Side and Sell Side are Experiencing Similar Pain with Regards to Document Management, Says Markit
Given the increased market focus on counterparty risk this year, firms are now beginning to spend more on the efficient management of their documentation processes, according to a recent survey by Markit. Good news then, for the vendor, which launched its Markit Document Exchange service in May last year. Penny Davenport, managing director and head...