BNY Mellon Picks GFI Fenics FX for Pricing Services in NYC, London and Tokyo
Bank of New York Mellon has signed a three-year license for GFI Fenics FX, pricing and risk management software from GFI Group, for use in its offices in New York, London and Tokyo. The banking and asset management firm says it will primarily use GFI Fenics FX for central pricing and risk management and global...
Broadridge Financial Solutions Offers Proxy Statement Data in XBRL Format
Broadridge Financial Solutions has introduced an open source format for interactive proxy statements to XBRL US. Following the announcement earlier in the year by the Securities and Exchange Commission (SEC) that financial reporting statements should be made available in XBRL, the vendor has accordingly adapted its architecture in order to meet the requirements. The proxy...
Knight Capital Enters CDS Clearing Counterparty Race
Knight Capital Group is the latest contender in the credit default swap (CDS) clearing counterparty race, joining players such as CME Group and Eurex. The brokerage and asset management firm says its NetDelta electronic settlement platform has been in development for over a year. The platform is available to both the buy side and the...
Quantifi Releases Version 9.1 with New Models for Pricing CDOs
Quantifi, a provider of analytics and risk management solutions to the global credit markets, has released version 9.1 of its software, which it says is aimed at allowing customers to more closely track the market. The updated version includes new models for pricing collateralised debt obligations (CDOs) and a flexible interface that enables users to...
US-based Bank Picks SmartStream TLM Corporate Actions
An unspecified US-based banking institution has selected SmartStream Technologies’ Transaction Lifecycle Management (TLM) Corporate Actions solution to create a global utility for corporate actions processing. According to the vendor, the bank is already an existing SmartStream TLM customer and will use TLM Corporate Actions for its global wealth management and institutional business units. At the...
Financial Information Forum Highlights the US$250m Cost of New Options Symbology, Finds Industry Dissatisfaction with Lack of Agreed Standards
The majority of industry participants are disappointed and frustrated that an agreement has not been reached on an alternative standard to the Options Price Reporting Authority (Opra) code, according to a recent study by the Financial Information Forum (FIF). Mary Lou Von Kaenel, managing director, management consulting at New York-based consultancy Jordan & Jordan, which...
Eurex Clearing Releases Details for its Credit Derivatives Clearing Solution
Originally appeared in MiFID Monitor Following the announcements by players such as CME and ICE last week, Eurex Clearing has finally revealed more details about its planned central clearing solution for credit derivatives. According to Eurex, the Deutsche Bundesbank has indicated its support for a European central clearing solution for OTC credit derivatives that will...
Interactive Data Adds More Data to Probate Valuation Service
Interactive Data Corporation’s Pricing and Reference Data business has enhanced its Probate Valuation service by adding valuations for new instruments including hard to price securities. According to the vendor, the service now offers valuations for more than six million global listed securities and funds, as well as unit trusts, and takes into account undistributed dividends...
ICE and Clearing Corporation Provide Details of CDS Clearing Platform Plans
Originally appeared in MiFID Monitor Following last week’s announcement by CME Group and Citadel Investment Group about their clearing house joint venture, IntercontinentalExchange (ICE) and bank and broker consortium backed Clearing Corporation have released the details of their planned joint venture in the credit default swap (CDS) clearing space. The joint venture has been dubbed...
Vermeg Receives SwiftReady Label for Megacor
Vermeg has received the 2008 SwiftReady label for its corporate actions solution, Megacor, for the sixth year in a row. The label denotes that Swift has deemed the solution in compliance with local standards and practices, following a testing process, according to Hervé Valentin, business development manager, partner management at Swift. Valentin adds: “Earlier this...