Calastone Advocates Market Wide Re-registration and Interoperability of Service
Calastone, the global messaging and settlement transaction network for the mutual fund industry, announces that it is on schedule to deliver the first solution for re-registration to market whilst at the same time offering to extend usage and connectivity to other re-registration service suppliers. Connecting via the UK market practice group message standard, the agreed...
Kempen & Co. Replaces Equity Derivatives Pricing and Data with SuperDerivative
Kempen & Co. has selected SuperDerivatives (SD), the derivatives benchmark and leading multi-asset front office solution, to replace its existing equity derivatives market data and pricing service. As a leading merchant bank and asset manager in the international market, Kempen & Co required an accurate benchmarking tool in the interbank OTC equity market, as well...
Princeton Financial Systems Signs Invesco Great Wall FMC, Expands Presence in China
Princeton Financial Systems today announced that it has signed Invesco Great Wall FMC (IGW) as a new PAM client. IGW joins other recently signed PAM clients in China, Franklin Templeton Sealand Fund Management Co., Ltd. (Shanghai) and UBS-SDIC Fund Management Co., Ltd. (Shenzen) as Princeton Financial Systems expands its presence in this region. As the...
FlexFinance IFRS Live After a Three Month Project Implementation Period
One year ahead of the Central Bank’s schedule, Access Bank, FERNBACH Software’s first Nigerian customer, announced the successful completion of its FlexFinance IFRS implementation. In a record time of less than 3 months, the joint team of Access Bank, KPMG and FERNBACH implemented FlexFinance IFRS. By completing the project, Access Bank has enlisted Nigeria among...
Moody’s Acquires a Direct Equity Stake in KIS Pricing, a Leading Korean Bond Pricing Company
Moody’s Corporation announced today that it has acquired a 16% direct equity stake in KIS Pricing, a leading Korean bond pricing company, positioning Moody’s to benefit from continued strong growth in the Korean domestic debt markets. The acquisition adds to Moody’s existing indirect ownership of KIS Pricing through its controlling equity stake in Korea Investors...
IASB and FASB Issue Common Fair Value Measurement and Disclosure Requirements
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today issued new guidance on fair value measurement and disclosure requirements for International Financial Reporting Standards (IFRSs) and US generally accepted accounting principles (GAAP). The guidance, set out in IFRS 13 Fair Value Measurement and an update to Topic 820 in the...
Broadridge and Euroclear Complete Agreement to Offer New End-to-End Proxy Voting Service
Broadridge Financial Solutions today announced that it has signed an agreement with Euroclear to jointly strengthen shareholders’ governance rights by making it easier for investors to vote electronically at company general meetings. The agreement follows an earlier memorandum of Understanding between the two organisations signed in October 2010. Under the new agreement, Broadridge and Euroclear...
Is There a Disconnect Between Basel III and the US FSOC on SIFI Criteria?
Chris Brummer, a senior fellow at the Milken Institute, reckons the current manner in which Basel III is taking shape may conflict with rules being developed by the US Financial Stability Oversight Council (FSOC) regarding the criteria by which firms are categorised as “systemically important financial institutions” (SIFIs). FSOC, the European Financial Stability Board (FSB)...
Aria Protected Funds Selects Pricing Partners’ Derivatives Independent Valuation Services
Pricing Partners announced today that Aria Protected Funds, a Luxembourg-based manager of high yield, protected funds, has selected Pricing Partners’ flagship independent valuation platform, Price-it Online (PIO) for its alternative assets. Aria Protected Funds will use Price-it Online to further validate and challenge counterparty pricing. Price-it Online will add an additional level of transparency and...
Exclusive: Fed CDO and DMRAV Headliner Bottega Takes on OFR Advisory Role
The US Office of Financial Research (OFR) has bagged another advisor in addition to recent Treasury appointee and ex-Morgan Stanley economist Richard Berner in the form of chief data officer (CDO) for the Markets Group at the New York Federal Reserve John Bottega. Bottega, who joined the Fed as CDO back in 2009 and is headlining...