Counterparty Data Has Become a Driver for Growth, Says A-Team Group, GoldenSource and CounterpartyLink
Senior managers have finally got a handle on counterparty data’s importance with regards to risk and entity exposure and they are now attempting to leverage it as an asset to fuel growth, according to recent research carried out by A-Team Group and sponsored by GoldenSource and CounterpartyLink. The research, entitled Counterparty Data Emerges as a...
Know Your Counterparty: The Importance of Centralised, Quality Counterparty Data
By Rick Enfield, product business owner at Asset Control The rise of alternative investment classes and derivative products corresponds with an increase in the number of counterparties financial institutions are dealing with today. While financial institutions have kept a close watch on systemic and operational risk factors, additional levels of investment complexity, coupled with a...
CB.Net Signs Agreement with Swift to Re-distribute BICs
CB.Net has signed an agreement to become a licensed re-distributor of Bank Identifier Codes (BICs) issued by Swift. The agreement will allow CB.Net to integrate BIC data into its flagship product and directory of international payments reference data, the BankSearchPlus database. Ian Dunning, managing director of CB.Net, comments: “It will greatly enhance the ease of...
Swift Confirms Plans for BIC in Business Entity Identifier Space
Following months of industry speculation about whether it had dropped the idea altogether, Swift has finally confirmed its plans for the Bank Identifier Code (BIC) in the area of business entity identification. Swift indicated at the start of the year that it was reviewing the business case for introducing an international business entity identifier (IBEI)...
Avox Signs Partnership with Xinhua Finance to Extend Business into China
Business entity data specialist Avox has signed a partnership agreement with financial information and media service provider Xinhua Finance to extend its reach into the Chinese market. The agreement represents the first level of partnership with Xinhua Finance and involves an arrangement for the Chinese firm to distribute international business entity data to the local...
Markit Launches Counterparty/Compliance Documentation Library
Data, portfolio valuations and OTC derivatives trade processing vendor Markit has launched a new documentation library that allows financial institutions to post, manage and share compliance, counterparty credit and regulatory documents securely. Called Markit Document Exchange, the new service automates KYC, anti-money laundering and compliance certification processes in order to reduce risk and lower operational...
SEC to Mandate Adoption of XBRL Financial Reporting For Large Publicly Listed US Firms
The Securities and Exchange Commission (SEC) has issued rules requiring large publicly held US companies to adopt extensible business reporting language (XBRL) for their financial reporting by 15 December. This follows the SEC Advisory Committee on Improvements to Financial Reporting’s report, released in February, which recommended that companies should use XBRL to tag their financial...
Markit Offers Free Access to RED for Smaller CDS Firms to Encourage Broader Buy Side Buy In
Data, portfolio valuations and OTC derivatives trade processing vendor Markit has released a new license for its Reference Entity Database (RED) for smaller buy side firms. Under the terms of the new license, asset managers with low credit default swap (CDS) trading volumes that use DTCC Deriv/SERV for trade confirmation will gain free access to...
Markit Adds License for RED for Smaller Firms
Data, portfolio valuations and OTC derivatives trade processing vendor Markit has released a new license for its Reference Entity Database (RED) aimed at smaller buy side firms. Under the terms of the new license, asset managers with low credit default swap (CDS) trading volumes that use DTCC Deriv/SERV for trade confirmation will gain access to...
Telekurs Financial Implements IBEI Codes
Broadening the adoption of a standard identifier for business entities, Telekurs Financial has implemented the International Business Entity Identifier (IBEI) codes for its Valordata Feed (VDF) and its financial display Telekurs iD. The vendor has been working on this implementation since June 2007 in order to allow European customers to identify participants in the processing...