13 Vendors Participate in UK FSA’s February Gabriel Liquidity ISV Forum
As noted by Reference Data Review last month, the UK Financial Services Authority (FSA) has pledged to support the data vendor community in adapting to the new regulatory order and, accordingly, has set up an independent software vendor (ISV) discussion group to discuss liquidity risk requirements. The group’s first meeting was held on 16 February...
Financial Institutions Call for Collaborative Action with Regulatory Support to Develop Missing Reference Data
The aforementioned two-day conference on reference data management for the banking industry has revealed major gaps in the industry’s ability to meet the tsunami of regulatory requirements. Officials from the European Central Bank, Committee of European Securities Regulators, JWG, the regulatory think-tank, and over 20 bankers discussed today’s reference data challenges and explored the industry’s...
Data Vendor Selection is Key to Bringing Down Costs But Also Improving Quality, Says SGSS’s Rose
In the current cost conscious environment, financial institutions need to push back on their vendors and make sure they have conducted a thorough evaluation of the data they are receiving from them, says Olivier Rose, head of projects and international market data management at French bank Société Générale Securities Services (SGSS). Rose, who has been...
UK FSA Pledges Commitment to Support Vendor Community in Data Space
There may be troubles ahead for the UK Financial Services Authority (FSA) with the impending departure of current CEO Hector Sants in the summer, but, in the meantime, the regulator has pledged to support the data vendor community in adapting to the new regulatory order. To this end, the regulator is strengthening its efforts around...
CESR Contemplates Extending Transparency Notifications to More Instruments, Additional Data Reporting Required
As part of its review of the Transparency Directive, the Committee of European Securities Regulators (CESR) has indicated it may extend transparency requirements to include instruments that create a similar economic effect to holding shares. This would mean that more data would be required in the effort to disclose entitlements to acquire shares as part...
London Stock Exchange Announces Partnership with FactSet to Deliver Reference Data through UnaVista
The London Stock Exchange announced today that it has commenced a joint venture with FactSet Research Systems. The partnership means that the Exchange will deliver FactSet’s reference data via UnaVista, a web-based platform that provides validation, matching and reconciliation solutions. Firms will now be able to receive FactSet’s issue-to-issuer linkage data and parent-subsidiary relationship data...
Bloomberg Faces Lobbying from Industry Group and Customers Over SPA Contracts and BSYM Data
Data giant Bloomberg is seemingly facing a degree of pressure from the industry with regards to both its planned service provider agreement (SPA) contracts for fund administration clients and the data provided via its Bloomberg Open Symbology (BSYM) initiative. Paris-based data association Commission des Services et Systèmes d’Informations destinés aux Opérateurs de Marchés (Cossiom) has...
CEBS’ Carosio Discusses 2010 Focus on Risk and EBA’s Role in Regulatory Data Infrastructure
The Committee of European Banking Supervisors (CEBS) was originally established as a forum to lead the charge towards a new Basel framework but in recent years it has become increasingly focused on the practical realities of risk management. Giovanni Carosio, deputy director general of the Bank of Italy who took over the reins as chairman...
Omgeo Continues Momentum in Japan
Omgeo today announced significant milestones achieved in Japan in terms of facilitating operational efficiency, reducing costs and increasing risk mitigation for clients in the region. Further demonstrating the firm’s commitment to Japan, Omgeo has also re-launched the Japanese-language version of its website. Omgeo wrapped up 2009 with significant growth in Japan, with 27% growth in...
UK FSA Grants Approval to Xtrakter for the Regulatory Reporting of Derivatives Using AII Codes
The UK Financial Services Authority’s (FSA) February deadline for the introduction of the Alternative Instrument Identifiers (AII) is fast approaching and this week the regulator has granted Trax platform operator Xtrakter approval to regulatory report exchange traded derivatives (ETD) using the new identifiers. Jason Waight, Xtrakter’s recently appointed director of product management, explains to Reference Data...