Central Instrument Model, Compliance with ISO 19312 Key in MDDL 3.0, But Does the Market Really Want it?
Version 3.0 of MDDL (Market Data Definition Language) is now available, but the jury’s out on whether the latest iteration of the XML dialect for securities market data will be greeted with any greater degree of enthusiasm by the market than its predecessors. GoldenSource – historically a strong advocate of the standard – has not...
Firms Will Spend $1.67 Billion on EDM in 2007, Aite Finds, But Most Don’t Plan to Hire Chief Data Officers
Enterprise data management (EDM) initiatives will account for $1.67 billion of spending by financial services firms in 2007, driven in the US by securities reference data challenges and data silos, and in Europe by the requirement to control client and counterparty data to comply with regulation such as MiFID and Basel II. So says analyst...
Strategic Evolution of Reference Data Well Under Way, Data Management Attracting Board Level Attention
Proof of the long-predicted evolution of reference data management into a strategic concern for financial institutions comes this month in a new A-Team research paper commissioned by SunGard Data Management Solutions. The research, the result of a Buyer Persona Study carried out by A-Team Group during Spring 2007, finds that the strategic evolution of reference...
Swift AGM Approves New Regulators Category
Swift has received unanimous approval at its AGM for the addition of Financial Market Regulators as a new participant category on the network. Admitting regulators to Swift will make it easier for Swift members and users to meet regulatory transaction reporting obligations, while facilitating the development of global regulatory reporting solutions, Swift says. The approval...
Cicada Boosts Integration With Cicada Profiler 1.4
Cicada has revealed the next version upgrade of its Cicada Profiler software, a packaged solution for anti-money laundering and Know Your Customer (KYC) data management requirements. The software is designed to bring improved collaboration, control and centralisation to customer identification and risk-based due diligence processes. The release focuses on increased integration with third-party data used...
Swift Imposes Structure on MiFID Transaction Reporting Data
Swift is close to completing an ISO 20022 formatted transaction reporting message which it plans to pilot for three months on its network prior to launching a commercially available solution by the end of October in readiness for the November 1 Markets in Financial Services Directive (MiFID) implementation deadline. As an ISO standard, the message...
Who’s Ready for SEPA? By Andrew Foulds, head of client services, CB.Net
As the Single Euro Payments Area (SEPA) deadline looms, there is a sense of panic growing among organisations, many of which are not prepared for the significant changes that will be required for payment processes. While corporates may be aware of the EU Directive and SEPA’s impending 2008 deadline, many have yet to devise a...
Telekurs Specifies Reference Data Changes for MiFID Compliance
Telekurs Financial has released further details of the reference data it is adding to its Valordata Feed (VDF) to help its clients comply with MiFID. These details add flesh to the bones of the announcement the vendor made late last year of its plans to address the data requirements of MiFID (Reference Data Review, November...
Firms Shy From Cost of Migration To New Ref Data Codes for MiFID
The Committee of European Securities Regulators (CESR) has published the responses to its public consultation on the use of reference data standard codes in transaction reporting under MiFID. By press time however CESR had not published its final decisions on the codes to be used, so it is as yet unclear whether the responses will...
Fortent Releases Regulatory Information Management Tool
Fortent, a provider of information and technology to the risk and compliance market, has launched Fortent Inform, a tool designed to help financial institutions streamline their management of regulatory information. As a web-based, centralized source of compliance information and analysis, Fortent Inform provides a single source for US federal and state financial regulations and related...