Atkin Quits Outsell for Staff Director Role at Enterprise Data Management Council
Well, we called it (Reference Data Review, June 2005). After just a few months with legal, scientific and B2B market research firm Outsell, Mike Atkin has moved on to become the staff director of the Enterprise Data Management (EDM) Council The move was hardly unexpected; Atkin’s long experience with Financial Information Services Division (FISD) of...
MiFID JWG Releases White Paper to Encourage Discussion of Reference Data
The MiFID Joint Working Group last month issued a discussion paper to look at the impact of the EU’s upcoming Markets in Financial Instruments Directive on reference data. The paper – The Implications for Reference Data under the Markets in Financial Instrument Directive – suggests that MiFID may have significant impact on several areas of...
MiFID Deadline May Slide Again; Does Buy Side Care?
Recent press reports suggest that MiFID’s implementation deadline will be pushed back to November 2007. EU member allegedly met on October 21 to discuss pushing back the deadline. Meanwhile, Investit, a buy-side consultancy, has warned that asset managers are unprepared for MiFID.
JPMorgan WSS Launches Sites For Compliance Officers
JPMorgan Worldwide Securities Services has introduced two new websites targeted at chief compliance officers to help them meet various mutual fund compliance requirements. The U.S. Securities and Exchange Commission requires mutual funds to appoint COOs and implement comprehensive policies and procedures to prevent fund companies and advisors from violating SEC regulations and securities laws. The...
The Impact of MiFID
Markets in Financial Instruments Directive (MiFID) has been described as pure cost pain for little liquidity gain by some. What might the impacts be for the financial services firms in terms of conduct of business, data management and best execution and order-handling processes? asks Dr Anthony W Kirby, Fellow of European Think Tank Promethee and...
Soliton Enhances TimeSquare For Basel II Compliance
Soliton has enhanced its TimeSquare data management service to include an off-the-shelf cross-reference data model and cross-referenced ratings data to ensure credit risk compliance for Basel II. The cross-reference data model allows for the integration of multiple data vendor feeds using their proprietary identifiers, as well as supporting cross-referencing to other industry identifiers. It also...
Progress with MiFID as First Working Group Held
The MiFID – Markets in Financial Instruments Directive – Joint Working Group efforts (Reference Data Review, April 2005) were kicked off earlier this month with the first meeting being held in London, and tasks being assigned to participants. The forward-looking objectives of the group, according to the group’s chairman Chris Pickles, are four-fold. They are,...
One Month To Go ’Til EUSD; Industry Still Not Ready
With just over 30 days to go before the EU Savings Directive (EUSD) comes into effect on July 1st 2005, it appears the industry is far from being prepared. The impact of not being ready could at best result in financial institutions paying too much tax and having to deal with refund claims from customers,...
SIIA/FISD to Findac: This industry ain’t big enough for the both of us.
Despite much fanfare, the idea of another industry association focused on market and reference data in the form of Findac has petered out before it even started. After testing the waters for a couple of months, Mike Atkin’s Financial Data Coalition (RDR, February 2005) concluded that it would not be able achieve critical mass, and...
Should the Registrars Become a Data Vendor? By Gary Wright MSI, CityCompass Research
The problem with data in the securities industry today is there is too much of it coming from too many different sources and in too many different forms. The cost therefore of gaining the data you want and need, has never been greater and this is in the 21st Century with the world of the...