Algorithmics Advocates Active Management of Counterparty Credit Risk with CVA in New White Paper
In its latest white paper on counterparty credit risk, Algorithmics outlines several recommendations and milestones for any institution interested in actively managing its counterparty credit risk (CCR) using credit valuation adjustment (CVA) to price the counterparty risk. Since the crisis, there has been a shift from passive to active management of counterparty credit risk that...
Resolving Symbols and Enabling Choice (Sponsored Article)
By Mark Woolfenden, managing director of FOW TRADEdata The choice of and the investment in trading solutions for both the buy side and sell side of the derivatives industry is an important determinant in the degree to which competition exists in brokerage and other trading related services. Well managed instrument symbology enables sell side firms...
Aim Software Plans Launch of a New Corporate Actions Scrubbing Module for the Start of 2011
Data management solution vendor Aim Software is planning to launch a scrubbing module for corporate actions in the first quarter of next year, according to Josef Sommeregger, vice president business development and sales at the vendor. The move is a reaction to client demand and also proved a deciding factor in SimCorp’s recent decision to...
B-Next’s Fabisch Talks up Growth Plans, Two New London-based Clients
Following its decision to partner with Interactive Data and set up UK-based operations last year, compliance and regulatory reporting platform vendor b-next has bagged two new clients in London and is searching for new recruits to bolster its team in the city. The vendor is looking to hire on the ground staff to deal with...
Independent Report Recommends Rethink of Information Highway to Spot the Next Financial Crisis
Two years after Lehman slipped into bankruptcy, the Achieving Supervisory Control of Systemic Risk report, released today by JWG and Paradigm Risk, has found that, while regulatory progress has been made, the infrastructure required to spot the next financial crisis has yet to be effectively implemented. The report, which was commissioned by the Financial Services...
Bar Codes for Banking: GS1 US and Financial InterGroup Creating Practices for Identifying Financial Documents
Nearly 40 years after the retail industry adopted the UPC bar code to improve transaction processes and information flow, the bar code’s administrator and a financial industry development firm are working to bring similar gains to financial documents, their associated electronic financial transactions, and their users. GS1 US, the not-for-profit standards organisation that supports the...
Citi to Act as Proving Ground for XBRL Tagging in Corporate Actions Space
Following on from the release of its case study earlier this year, XBRL US has indicated that it is working with global custodian Citi on a pilot programme to prove the benefits of XBRL tagging in the corporate actions space. The pilot is focusing initially on tests on dividend announcements issued by American depository receipts...
Barrage of New Regulation Could Cause Death by Data Drowning, Warns ISMAG’s Gubert
The slew of new regulations entering into force over the next few years, including a new iteration of MiFID, the multiple legislative changes resulting from the Dodd-Frank Act and the Securities Law Directive (to name just a few), will result in such an increase in reporting requirements that firms may find themselves in danger of...
IBM and Norkom Technologies Sign Agreement with VTB
Bank VTB has signed an agreement with IBM to provide the bank with an integrated anti-money laundering system, based on a solution from Norkom Technologies. The new system will help the bank better manage risks associated with suspicious transactions. The project will be developed and implemented by IBM Global Business Services and Norkom Technologies. As...
CFTC’s Gensler Highlights Some of the Incoming Data Requirements for Swaps Repositories
The Commodity Futures Trading Commission (CFTC) is working towards defining rules for the data that must be submitted to the new swaps data repositories, which are due to be established as part of the Dodd-Frank Act. Speaking at the International Swaps and Derivatives Association (ISDA) regional conference last week, CFTC chairman Garry Gensler explained that...