S&P Valuation and Risk Strategies Develops New Benchmark Scoring Methodology to Evaluate Corporate Bonds
S&P Valuation and Risk Strategies, an independent and analytically separate business unit within Standard & Poor’s that provides users with market intelligence and analytic insight for risk driven investment analysis, announced the launch of a new evaluation benchmark on S&P’s Global Credit Portal investor analytics platform. The new Risk-to-Price scoring methodology is intended to help...
S&P’s Fahy and Markwith Elaborate on BP Case Study for Monitoring of Risk Exposure via its Cross Referencing Services
The BP oil spill in the Gulf of Mexico has been gathering its fair share of headlines over the last few months but one of the biggest challenges for financial institutions has been in identifying their exposure to the firm and tracking the relevant entity data across its various subsidiaries. Roger Fahy, director, and Ryan...
DTCC Launches Equity Derivatives Reporting Repository, Gains FSA Approval for UK Subsidiary
Following its announcement last month that it would be establishing a European-based derivatives trade reporting repository, the Depository Trust & Clearing Corporation (DTCC) has indicated that it has gained the approval of the Financial Services Authority (FSA) to establish the required UK subsidiary to launch a repository on European shores. DTCC has also launched its...
Swift to Launch Corporate Actions Pilot Scheme for ISO 20022 Messages in December, Seeking Out Willing Participants
In line with its 2015 strategic focus on corporate actions, industry network operator Swift has announced that it will begin piloting its new ISO 20022 messaging system in December this year. The pilot will include the 13 new corporate actions messages that have been reverse engineered by Swift from ISO 15022 messages, 22 issuer agent...
BNY Mellon Asset Servicing Enhances Reporting for Institutional Investors Required to Report Ratings of Counterparties
BNY Mellon Asset Servicing, the global leader in securities servicing, has enhanced its Workbench platform to help institutional investors comply with new accounting standards that require them to report the industry ratings of their counterparties when over-the-counter (OTC) derivatives are held. These enhancements were specifically designed to help US Government reporting clients meet the requirements...
UK FSA’s £5.6m Fine for RBS Group Highlights Need for Greater Investment in Customer Data Management
The UK Financial Services Authority’s (FSA) £5.6 million fine for Royal Bank of Scotland (RBS) Group this week for the group’s failure to have adequate data checks in place to conduct mandatory anti-money laundering (AML) screening is indicative of the need for firms to get a better handle on their customer data. According to the...
BIS IFC Plans Event on Regulatory “Data Gaps” Revealed by the Crisis, Will a Reference Data Utility be Discussed?
The Bank for International Settlements’ (BIS) Irving Fisher Committee (IFC), which was set up to discuss issues related to statistical monitoring by regulators across the globe, is planning to discuss the data gaps highlighted by the financial crisis at its fifth annual conference in Basel this month. Given the theme, it is likely that discussion...
Swaps Financial Group is First to Pilot Principia Partners’ SaaS Platform, Long is Hopeful of its Appeal for Smaller Players
Structured finance and derivatives solution specialist Principia Partners has just launched its new software as a service (SaaS) platform for valuations and risk management, following a year of development with early adopter US derivatives advisory firm Swaps Financial Group. The new delivery model is targeted at the smaller end of the financial institution spectrum and...
CESR’s Advice on Transaction Reporting Accepts High Cost of the Introduction of New Entity Identifiers, the BIC Will Have to Do…
As part of its overall technical advice to the European Commission on the subject of MiFID, the Committee of European Securities Regulators (CESR) has indicated that although the introduction of a “meaningful” and unique pan-European legal entity identifier for transaction reporting purposes is desirable, it isn’t practical in the short term. In its package of...
Swift’s Aggarwal Confirms the Securities Reference Data Items that Have Made the Cut in the New 2015 Strategy
Financial industry network operator Swift has finally signed off its new five year strategic plan, but how many of the reference data items mentioned by securities head Chris Church back in January have made the final cut? Arun Aggarwal, Swift’s managing director for the UK, Ireland and the Nordics, explains to Reference Data Review that the development of...