Systemic Risk Regulator Should Resemble the CRO Function and Data Utility is Likely to be Too Costly
The 22 respondents to the Securities Industry and Financial Markets Association’s recent survey (Sifma) believe that regardless of the exact structure of the systemic risk regulator, its roles and responsibilities for the overall markets should reflect those of a firm’s chief risk officer (CRO). The Sifma member firms, regulators, clearing counterparties (CCPs) and exchanges involved...
JWG’s MiFID League Table Includes Four Main Reference Data Considerations
As previously noted by Reference Data Review, the current review of MiFID encompasses a whole host of reference data issues, which think tank JWG has handily included in its recently updated MiFID league table. The four main reference data changes comprise the new requirements for counterparty and client identifiers, the extension of post-trade data requirements, changes to...
Post-Trade Data Quality has Deteriorated Since MiFID But Are Current Proposals Enough for Instrument Identification, Asks FISD’s Davin
The market fragmentation that has been a major by-product of the introduction of MiFID has resulted in a number of serious data related issues in the OTC space in particular, said Tom Davin, managing director of the Washington-based Financial Information Services Division (FISD) of the Software & Information Industry Association (SIIA), at the recent MiFID...
JWG’s Di Giammarino Talks up Data Practicalities of Risk and Regulatory Onslaught
The long list of incoming regulations, especially those that will require the reinvention the risk management wheel, have thrown into the spotlight the need for firms to get a better handle on their operational risk, said PJ Di Giammarino, CEO of think tank JWG at the recent Thomson Reuters pricing event in London. Reiterating his...
Issuance of ISINs for Loans is a Step in the Right Direction, Says DTCC’s Lewis
This year has seen the issuance of the first set of ISINs for the loans market and Mathew Keshav Lewis, vice president of the Depository Trust & Clearing Corporation’s (DTCC) LoanServ business, reckons this is a great start to introducing further data standardisation in this particularly slow moving corner of the market. Of course, there...
FactSet Research Systems Reports Results for the Third Quarter of Fiscal 2010
FactSet Research Systems, a provider of integrated financial information and analytical applications to the global investment community, today announced its results for the third quarter of fiscal 2010. For the quarter ended May 31, 2010, revenues were $160.3 million, up 4% compared to the prior year. Operating income for the third quarter increased to $55.7...
ESF’s Angheben Warns Firms to Keep a Close Eye on Post-Trade Transparency Regime Progress
Firms need to keep a close eye on what is shaping up to be MiFID II, under the auspices of the Committee of European Securities Regulators’ (CESR) consultation on post-trade transparency, warned Marco Angheben, director of the Association for Financial Markets in Europe (AFME) and the European Securitisation Forum (ESF) at last week’s Thomson Reuters...
Quantifi Develops Cutting-Edge Credit Valuation Adjustment and Counterparty Risk Solutions
Quantifi, a provider of analytics, trading and risk management solutions for the global capital markets, today announced the release of two groundbreaking new products Quantifi CVA (Credit Valuation Adjustment) and Quantifi Counterparty Risk – currently in beta testing with a select few clients. Rohan Douglas, CEO at Quantifi, commented, “We are very excited to be...
Engineering Approach to Data Management Challenges of New Regulation is Best, Says HSBC’s Johnson
The deluge of regulatory change that is facing the data management community is best tackled by adopting an engineering approach, according to Chris Johnson, head of product management, market data services at HSBC Securities Services. Speaking at a recent Thomson Reuters pricing event as a data management representative rather than on behalf of HSBC, Johnson...
FRSGlobal’s Brammertz Propounds Risk Management Benefits of the US Office of Financial Research
The plans for the establishment of a US-based reference data utility in the guise of the Office of Financial Research continues to make its way through the US political system and it seems that many of those from the risk management world feel it will make a difference for the better. The Professional Risk Managers’...