Aim Software and Interactive Data Launch Sixth Edition of the Aim Global Reference Data and Risk Management Survey
Aim Software today announced the launch of its sixth international reference data and risk management survey. It is designed to provide insights into the trends, challenges and planned investments for reference data automation and risk management in 2009. The survey is sponsored by Interactive Data (Europe). As the global financial markets become accustomed to a...
The FSA’s Incoming Liquidity Regime: What Will it Mean for Data Management?
The compliance departments and senior managers of those affected by the UK Financial Services Authority’s (FSA) incoming liquidity reporting regime have finally begun to sit up and take notice of its implications, but what does it all mean for the data management community? When it was announced at the end of last year in an...
Baikal Rolls Out UnaVista for Reconciliations and Confirmation Matching
Baikal, the London Stock Exchange Group’s pan-European dark pool and liquidity aggregation service, this month began using UnaVista, the group’s generic hosted matching, reconciliation and data integration service. As part of Baikal’s phased roll out, solutions were needed for end of day exchange reconciliations with central counterparties, and for automation of post-trade client confirmations. UnaVista...
CESR Elaborates on OTC Derivatives Identifiers for Transaction Reporting
The Committee of European Securities Regulators (CESR) has published a consultation paper recommending the adoption a set of identifiers and classifications for OTC derivatives for the purpose of including those instruments in the exchange of transaction reports amongst CESR members. These reports are currently exchanged between regulatory authorities via an IT system, dubbed the Transaction...
SEC Grants ICE Clear Europe and Eurex Clearing Exemptions to Operate CDS CCPs
The Securities and Exchange Commission (SEC) has approved conditional exemptions that will allow ICE Clear Europe and Eurex Clearing to operate as central counterparties (CCPs) for clearing credit default swaps (CDS). These conditional exemptions provide the SEC with regulatory oversight of the CCPs and should enhance the quality of the CDS market and the Commission’s...
CFTC’s Gensler Calls for Interoperability for OTC Derivatives Clearing Market
Gary Gensler, chairman of the Commodity Futures Trading Commission (CFTC), has this week elaborated on his desire for more competition to be introduced to the OTC derivatives clearing environment. Gensler testified before Congress to encourage the US government to introduce greater levels of standardisation within the market and the ability for market participants to be...
US on Course for SEC Mandated Crackdown on Ratings Agencies
Following the discussions earlier this year by US Congress to overhaul the beleaguered credit ratings agency business, this week the US Treasury released proposals aimed at reducing conflicts of interest within these agencies. The idea to change their fee structures was first tabled in April during a Securities and Exchange Commission (SEC) roundtable and these...
Buy Side Participation for ICE Trust to be Enabled in October
IntercontinentalExchange (ICE), an operator of regulated global futures exchanges, clearing houses and OTC markets, has developed a solution that provides segregation of customer funds and positions in credit default swap (CDS) clearing. The solution, which will enable buy side participation in CDS clearing, is expected to be introduced in October 2009, subject to regulatory approval....
As BClear Bows Out, Clearnet Steps into the Ring for CDS CCP Round One
European regulators have for months been championing the launch of a European-based clearing central counterparty (CCP) for the credit default swap (CDS) market and it seems their prayers may have been answered in the form of Paris-based Clearnet. The joint venture between Liffe and LCH.Clearnet has taken over the mantle of viable CCP contender, following...
Majority of CDS Products Will Never be Centrally Cleared, Says Tabb Group
In new research published today, Tabb Group says the majority of credit default swaps (CDS) products blamed for adding significant systemic risk to the global financial markets will never be centrally cleared in the United States and Europe. According to the report’s authors, Larry Tabb, founder and CEO, and Robert Iati, partner, global head of...