Pricing Partners Extended Multi-Curve Pricing to Major Currencies
Pricing Partners, a derivatives independent valuation and mathematical models and pricing analytics provider, announced today to improve its multi-curve pricing to major currencies. This announcement comes at a time when the market dislocation between the three month and the six month curves for all major currencies widen from a few basic points to a few...
The Industry Needs a Global, Unique Legal Entity ID with No Embedded Logic, Says HSBC’s Serenita
The adoption of a global, unique legal entity identifier that has no embedded logic will have the biggest impact on the data management space, according to Peter Serenita, global head of entity and account data management for Global Banking and Markets at HSBC. However, the industry will also need to take into account the wider...
SEC and CFTC on User Fees, Data Utilities and Obama’s Recent Budget Request
Following on from the recent high profile discussions within the US regulatory community about challenges facing the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) regarding funding over the last few weeks, president Barack Obama has this week proposed to include user fees in next year’s budget for the regulators. The...
New Commodity Derivatives IDs Likely to Prove a Headache for Both the Industry and Regulators
As well as highlighting the legal entity identification challenges that the industry is likely to face as a result of the MiFID review, attendees to this week’s MiFID Transaction Reporting Group meeting also elaborated on the instrument identification challenges of the European Commission’s planned extension of the directive to cover the OTC and commodity derivatives....
CFTC’s Dunn Admits That Key Market Definitions are Missing from Reforms at the Outset
The Commodity Futures Trading Commission (CFTC) has spent most of the start of this year complaining about its dire situation with regards to funding, but this week saw definitive proof that the regulatory reform process is starting off down the wrong track, with the admission by CFTC commissioner Michael Dunn that the regulator is pushing...
SWIFT Launches SSI Initiatives to Reduce Settlement Errors and Increase Automation
SWIFT, the financial messaging provider for more than 9,500 financial institutions and corporations in 209 countries, today announced the roll-out of a range of new initiatives designed to reduce costly settlement errors and improve the rates of automation of Standing Settlement Instructions (SSIs). SWIFT’s initiatives are a response to the industry need for greater efficiency...
HSBC Live on Broadridge’s SWIFT MX Proxy Voting Message Service
Broadridge Financial Solutions, Inc. today announced that HSBC is the first live operational user of the new SWIFT MX Proxy Voting Messaging Suite using Broadridge’s global proxy processing solution. The SWIFT messages, based on the latest ISO 20022 messaging standard, are a new generation of SWIFT-based communications designed to increase processing efficiency throughout the proxy...
Hauck & Aufhäuser Investment Gesellschaft S.A. in Luxembourg Goes Live with Profidata’s XENTIS
n December 2010, Hauck & Aufhäuser Investment Gesellschaft S.A. (HAIG) in Luxembourg successfully went live with XENTIS, the fully integrated Investment Management System of the Swiss software provider Profidata, to support their sophisticated Fund Accounting needs. The implementation project started in February 2010, and by August, the first funds were migrated from the legacy system...
MiFID Transaction Reporting Group Meeting Highlights UK Specific Client and Counterparty ID Challenges
The UK is likely to face a significant challenge in the identification of clients and counterparties at an individual level on a national basis, as specified by the current proposals under the auspices of the MiFID review, according to participants at this week’s MiFID Transaction Reporting Group meeting. Rather than opting for firm level identification...
BNY Mellon Asset Servicing Launches New Fair Value Pricing Offering
BNY Mellon Asset Servicing has announced the launch of its new Fair Value Pricing offering, allowing clients to undertake a revaluation of equity and futures positions in markets that have closed prior to the valuation point of the fund. Principal benefits include: • More accurate asset valuation and hence a more accurate fund NAV •...