Instrument and Entity Identification are Key Issues for MiFID Forum’s Transaction Reporting Subject Group
Given the high profile fines that have been handed out over the last 12 months in the UK for data related transaction reporting failures, it is no surprise that the subject of entity and instrument identification is top of the list for the recently formed Transaction Reporting Subject Group of the MiFID Forum. Alan Jenkins,...
ECB’s Trichet and González-Páramo Indicate it is Working on Data Foundations for the ESRB
One of the main requirements for conducting accurate and efficient macro-prudential oversight, as included in the remit of the incoming European Systemic Risk Board (ESRB), is to have a solid data foundation on which to base judgements with regards to systemic risk analysis (as noted by Reference Data Review last month). No surprise then, that...
FactSet Focuses on Entity Data Related Product Launch Before the End of the Year
Following the signing of a joint venture with the London Stock Exchange (LSE) in February to add its entity data to the UnaVista platform, data vendor FactSet has been focused on adding another string to its entity data bow by building a single name exposure offering, which it plans to launch before the end of...
Data Transparency is Key to Risk Exposure Assessment for the Derivatives Market, Agree BNP Paribas’ Ruault and Newedge’s Colette
Data management solutions are receiving buy in from top level management because of the requirement to assess risk exposures in real-time and react to business opportunities and challenges, said Philippe Ruault, head of clearing, settlement and custody products at BNP Paribas, at last week’s SunGard City Day in London. Risk management has become much more...
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...
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...
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...