BarCap and Citi Veteran Sutton Takes Over Data Management Role at Royal Bank of Canada
FIMA regular and data management veteran, Julia Sutton has completed four weeks in her role at the Royal Bank of Canada (RBC), where she is now director in charge of reference data for EMEA and Asia Pacific. Speaking at FIMA 2009’s focus day, she explained that she is using her experienced garnered at Barclays Capital...
Senior Supervisors Group Report Calls Directly for Investment in Risk IT and Data Management
Last month, the Senior Supervisors Group (SSG), which is comprised of 10 regulatory bodies from seven countries, published a report examining the funding and liquidity issues central to the recent crisis. The report explores critical areas of risk management practice that the SSG feel warrant improvement across the financial services industry, including tackling firms’ fragmented...
UK FSA Creates Data Management Challenge with Single Customer View Reforms
The UK Financial Services Authority (FSA) has recently released a paper discussing the feedback it has received from the market with regards to its proposals around the verification of the single customer view (SCV) for deposit taking institutions. The reforms, which are aimed at facilitation a single, consistent, view of an eligible claimant’s aggregate protected...
EDM Council Publishes Revised Schedule for Subject Matter Expert Reviews
As noted last month by Reference Data Review, the EDM Council is continuing to tweak its semantic repository to better reflect the market’s data semantics. To this end, over the course of September and October, the EDM Council’s subject matter expert (SME) review team has been working through terms that vary over time for the...
DTCC Faces European-based Threat to Trade Repository Plans from BME
The Depository Trust & Clearing Corporation (DTCC) has been pitching its Trade Information Warehouse as a repository for OTC derivatives trade data for some time, but it seems the vendor will soon be facing some competition from Spanish stock exchange operator Bolsas y Mercados Españoles (BME). The regulatory community is keen to get deeper into...
Markit and DTCC Link up to Create Comprehensive Solution for Syndicated Loan Trades
Markit and the Depository Trust & Clearing Corporation (DTCC) today announced plans to bring together key services for the loan market in order to offer a comprehensive solution for the processing of syndicated loans. The initiative aims to increase efficiency and help reduce counterparty and operational risk in the multi-trillion dollar syndicated loan market. DTCC...
ECB’s Reference Data Utility Plans Not Practical Enough, Say RDR Readers
It seems that the majority of Reference Data Review readers out there remain sceptical of the European Central Bank’s (ECB) proposed reference data utility. According to the results of out October reader poll, 43% of you do not think the proposals are practical enough to warrant being considered a desirable concept for the market. The...
Membership Has its Privileges: Business Entity Data
By Marc Alvarez, senior director, Reference Data Infrastructure, Interactive Data Pricing and Reference Data At the heart of working with market and reference data is a well recognised fundamental principle that “organisations issue one or more securities that are quoted on one or more markets by one or more market participants”. This one statement sums...
Is Cloud Computing an Answer to Risk and Reference Data Storage?
This week’s FS Club debate on cloud computing suggested that despite all the confusion around the exact definition of a cloud, what it does represent is potential for the future in terms of data storage. Nick Davies, chief technology officer for Lombard Risk Management, suggested that a private cloud could be used for purposes such...
3L3 Committees Publish New Paper on Supervisory Practices for Money Laundering Directive
The three European level three (3L3) committees, the Committee of European Securities Regulators (CESR), the Committee of European Banking Supervisors (CEBS) and the Committee of European Insurance and Occupational Pension Supervisors (CEIOPS), have this week turned their attention to the area of anti-money laundering (AML) with the publication of a new report. The 3L3’s Anti-Money...