CCP Principles Can be Applied to Bilateral World of OTC Derivatives, Says Adsatis
Following on from its white paper last month, London-based consultancy Adsatis has published another report looking into the clearing counterparty (CCP) approach in comparison to bilateral agreements with regards to OTC derivatives. Adsatis consultant and author of the white paper, Bill Hodgson, reckons firms can apply aspects of the CCP approach to a non-CCP environment....
Avox and Asset Control Integrate Business Entity Data Service with EDM Solutions
Asset Control has decided to partner with entity data vendor Avox in order to extend its offering in the counterparty data business. The EDM vendor has integrated Avox’s business entity data service, including entity data and proprietary universal identification codes, into its solutions, AC Plus and Tapmaster. The vendors claim the combined solution will provide...
Regulation and Risk Will Force Banks and Hedge Funds to Tighten EDM Controls, Says Tabb Group
Current market conditions and the threat of impending regulatory changes will force banks and hedge funds to revise their enterprise data management (EDM) strategies to improve transparency, according to recent research from analyst firm Tabb Group. Adam Sussman, director of research at the firm and author of the report, reckons requirements for better risk management...
Counterparty Risk Infrastructure in the Current Market
By Neil McGovern, product strategy director at Sybase History may judge the failure of Lehman Brothers as the event that caused the most changes in financial services institutions in the credit crunch of 2007 to 2009. The failure of an institution that was never meant to fail, especially one such as Lehman, has changed attitudes...
Buy Side and Sell Side are Experiencing Similar Pain with Regards to Document Management, Says Markit
Given the increased market focus on counterparty risk this year, firms are now beginning to spend more on the efficient management of their documentation processes, according to a recent survey by Markit. Good news then, for the vendor, which launched its Markit Document Exchange service in May last year. Penny Davenport, managing director and head...
CCP for the CDS Market Will Have Very Little Impact on Risk Mitigation, Says Adsatis
Originally appeared in MiFID Monitor The market may be overestimating the impact that the introduction of a central clearing counterparty (CCP) will have on systemic risk, according to London-based consultancy Adsatis. The firm’s recent white paper, entitled “A central counterparty for OTC credit derivatives – are we over estimating the importance?”, examines the benefits and...
DTCC Expands Data Published by Deriv/SERV on CDSs
The Depository Trust & Clearing Corporation (DTCC) is to, later this month, expand the data its Deriv/SERV unit publishes on credit default swaps (CDSs) registered in its Trade Information Warehouse to show additional detail on weekly transaction activity. In November last year, DTCC first indicated is would be providing more information on derivatives registered in...
Hedge Funds are Increasing their Scrutiny Of Counterparty Risk, Says Pershing and Aite Group
Managing counterparty risk has become a much more critical component of a hedge fund’s overall business operations today than it has been in previous years, according to a recently published white paper by Pershing and Aite Group. The report, which is entitled Risk and Reward: Hedge Funds Changing Views on Counterparty Relationships, focuses on the...
UK FSA Agrees to Review JWG-IT Group Proposals on Counterparty Data Management
Originally appeared in MiFID Monitor The UK Financial Services Authority (FSA) has agreed to review London-based think tank JWG-IT Group’s guidance on wholesale customer data management, which it plans to submit to the regulator in the first quarter of next year. The group is in the process of drawing together industry guidance that is aimed...
ECB’s CSDB Could be Used as IBEI Repository, Says Finsoft’s Christensen
The European Central Bank’s Centralised Securities Database (CSDB) could be used as the industry’s recognised source of business entity identifiers in the future, contended Soeren Kier Christensen, managing director of Finsoft Financial Systems. “Each institution needs a unique identifier and the CSDB currently tracks these for each European institution. By using these already standardised codes,...