Swift’s Halberstadt and Pobuda Elaborate on its Progress in the FX and Payments SSI Space, Reference Data Utility Plans
It is no secret that Swift’s 2015 plan includes a great deal more about reference data than previous strategies devised by the industry network operator. In February, Swift announced that it would be putting words into action in the payments and FX standing settlement instruction (SSI) space by establishing a new service in these markets,...
Opinion: Proven Main Street Solution Proposed for Global Financial Identification
By Allan Grody and Bob Carpenter There is a business model in existence today that has been around for nearly four decades and that has solved the unique identification problem in the global commercial trade supply chain. Now in partnership with our respective firms, we are proposing to share this system with regulators and the...
Quantifi Survey Reveals Industry-Wide Move to Overhaul Counterparty Risk Systems
Quantifi, a leading provider of analytics, trading and risk management solutions for the global capital markets, today announced the preliminary findings of its counterparty credit risk survey. Quantifi recently participated in the Global Derivatives and Risk Management conference in Paris and surveyed a cross section of financial firms to gain insight into the various approaches...
DTCC’s Thompson Cautions on Potential Data Sharing Issues Due to Furore Over Dodd Frank’s Extraterritoriality
The Depository Trust & Clearing Corporation’s (DTCC) managing director and general counsel Larry Thompson has this week cautioned that data sharing arrangements between regulators could be disrupted by the legislative language of Dodd Frank and the global pushback on US extraterritoriality. This issue is of particular concern for DTCC given its intent to act as...
Sifma Led Coalition Details 14 Key Prerequisites for OFR LEI Solution Providers, 3 June Deadline for Submissions
Following its publication of a wish list for the legal entity identifier (LEI) earlier this month, the 13 strong, Sifma led coalition of industry associations focused on providing feedback to the US Office of Financial Research (OFR) has detailed its 14 key prerequisites for the solution providers that will be tasked with bringing the new...
Russell and Axioma Launch a New Suite of ‘Long-Only’ Factor-Based Indexes
Russell Investments, which owns the most widely used U.S. equity benchmarks for institutional investment products’, and Axioma, Inc., a leading provider of advanced tools for portfolio optimization and risk analysis, have collaborated to launch a series of long-only large and small cap factor indexes. These new Russell-Axioma U.S. Small and Large Cap Factor Indexes are...
Swift Sanctions Screening Service Falls Below Big Bank Grade
Swift’s sanctions screening service, which is due to go live in December this year, failed to win interest from large financial services organisations when first mooted and has instead been geared towards small and medium sized banks. Brigitte De Wilde, head of anti-money laundering and sanctions for Swift, explains to Reference Data Review that a study of...
GS1 Continues its Campaign to be Selected as OFR’s Standards Administrator
ISO may be the bookie’s favourite to be selected as the Office of Financial Research’s (OFR) standards provider, given its expedited drafting of a legal entity ID standard and its recent selection of Swift as its registration authority for that standard, but that has not deterred standards body GS1 in its own bid to become...
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...
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)...