Panel Agrees LEI Standards and Infrastructure are Likely to Face Some Delays, CFTC Deadline is First Milestone
A lot of progress may have been achieved this year with regards to moving towards a new legal entity identification (LEI) standard, including getting the G20 to pay attention to the work that has happened thus far (see more on which here), but once the initiative reaches the implementation stage there are likely to be...
Monoline Exposures Resulted in $54 Billion in Charges for Banks, According to New ISDA Study
The counterparty credit risk exposure of 12 US bank holding companies and international banking companies to monoline insurers has led to some $54 billion in write-downs by the banks since 2007, according to a new analysis by the International Swaps and Derivatives Association, Inc. (ISDA). ISDA conducted the study as part of its examination into...
Thomson Reuters Integrates DataScope Pricing and Reference Data with Black Mountain Systems’ Everest
Thomson Reuters has just completed the integration work involved in allowing Black Mountain Systems’ portfolio management system Everest clients to access the data giant’s DataScope Select pricing and reference data. Brian Buzzelli, head of pricing and reference data for the Americas region at Thomson Reuters, explains the details of the customised data integration process, which...
Markit Acquires QSG, Enters Data Analytics Sector
Markit, a leading, global financial information services company, today announced that it has acquired Quantitative Services Group (QSG). QSG is a leading provider of independent equity research, advanced trading analytics and investment consulting services. The acquisition expands Markit’s capabilities in equities and will enable Markit to expose its high-quality data products to QSG’s statistical processes...
FSA Slaps Credit Suisse UK with a £5.95m Fine for Data Failings Regarding SCARPs
The UK Financial Services Authority (FSA) has fined Credit Suisse’s UK operations £5.95 million for failing to maintain accurate records for its structured capital at risk products (SCARPs) and risk related systems and controls failures. According to the regulator, the private bank had inadequate systems and controls in place in order to assess its customers’...
FSB Granted with More Power for Systemic Risk Data Monitoring, ESRB Details Data Collection Arrangements
At the weekend, the G20 indicated that the Financial Stability Board’s (FSB) powers with regards to systemic risk monitoring and data gathering would be increased to allow it to compile an annual review on how well financial regulations have been adopted across the G20 countries. And, at the end of last month, the European Systemic...
MSCI Launches the MSCI EM 50 Index
MSCI, a leading provider of investment decision support tools worldwide, announced today the launch of a new tradable index, the MSCI EM 50 Index. The index is highly correlated to the flagship MSCI Emerging Markets Index, but is composed of just 50 of its largest constituents. “We have seen significant demand from clients around the...
BNY Mellon’s Ruane Says Custodian Banks Will ‘Fill the Void’ in Delivering Prime Custody and Related Transparency Services to Hedge Funds
In a new opinion piece, BNY Mellon CEO of Alternative and Broker-Dealer Services Brian Ruane argues that recent industry and economic events will see custody banks continue to play a larger role providing services to hedge funds that previously were the sole domain of prime brokers. The paper, ‘Filling the Void: Transparency and the Rise...
Fitch Solutions Launches New Bank Credit Model for Credit and Counterparty Risk
Fitch Solutions, a division of the Fitch Group, has launched its new Bank Credit Model – a product providing daily Financial Implied Ratings and Implied CDS spreads for 9,500 global banks to help risk managers improve their credit and counterparty risk surveillance, and to meet regulatory and internal compliance requirements. “As current market sentiment towards...
Chi-X Europe & Russell Indexes Unveil New European Indices
Chi-X Europe, the leading pan-European equities exchange, and Russell Indexes, a leading provider of global and U.S. indices and part of financial services firm Russell Investments, today unveil the Chi-X Europe Russell Index Series of pan-European indices. The new family of indices has been specially formulated to provide users with high quality, tradeable pan-European and...