WMDatenservice’s Heer Talks up European Potential of New German Financial Instrument Documentation Standards
Germany has recently introduced a new product information standard, called Produktinformationsblatt (shortened to the acronym PIB), that is an extension of the concept of the Key Investor Information Documents (KIID) under UCITS and aims to standardise the formatting of product information for the benefit of investors. Markus Heer, managing director of German data vendor WMDatenservice,...
New Warning Over Diverging Derivatives Rules
Proposed rules for derivatives trading could push up financing costs and create “material risks” for the global economy because of a lack of co-ordination, the US and European Union have been warned by the financial services industry. The warning is contained in a letter sent on Wednesday by eight leading trade associations – including the...
Associations Warn of Harmful Effects of Extra-territoriality
Eight global and regional trade associations today called on regulators to intensify cooperation to prevent, alleviate or limit the harmful effect of overlap, inconsistency and ambiguity resulting from extra-territoriality in regulatory efforts to implement G20 commitments. Extra-territoriality is a fundamental concern in derivatives business, where it is common for counterparties based in different parts of...
CFTC Publishes Two New Data Sets on Daily Net Position Changes
The U.S. Commodity Futures Trading Commission (CFTC) today announced the release of two new data sets that add further transparency to commodity futures markets. The new reports, entitled “Large Trader Net Position Changes” and “Trading Account Net Position Changes,” build on the CFTC transparency program initiatives. The data and explanatory notes, as well as average...
One Client Has Moved from 24% to 100% Data Quality Compliance via Omgeo’s SI Compliance Scan, Says Meenaghan
Omgeo has this month launched new functionality for its settlement and account instruction (SSI) database that Bill Meenaghan, global product manager for the vendor’s Alert platform, claims has allowed one client to move from 24% to 100% data quality compliance within a matter of weeks. The SI Compliance Scan functionality is therefore aimed at helping...
J.P. Morgan Appointed to Provide Fund Administration Services for Tristan Capital Partners
J.P. Morgan today announced it has been appointed by Tristan Capital Partners, the real estate investment management firm, to provide fund administration and reporting services. J.P. Morgan’s Worldwide Securities Services business will also provide property level data aggregation and reporting. Tristan Capital manages three real estate investment funds with total assets under management of &euro2.8...
IOSCO Highlights Dark Pool Post-trade Data Gaps, Lack of Global Venue Identification Standards
The International Organisation of Securities Commissions (IOSCO) has published its principles for the global dark pool community, which highlights the high degree of disparity across the post-trade data environment for these venues. In particular, it notes the lack of a common venue identification standard and trade reporting processes. IOSCO, which has also been working on...
Omgeo Launches New Omgeo ALERT Capabilities to Drive Settlement Instruction Data Quality
Omgeo, the global standard for post-trade efficiency, today announced the availability of new Omgeo ALERT functionality, SI Compliance Scan. Omgeo ALERT is the world’s largest and most compliant web-based global database for the maintenance and communication of settlement and account instructions (SI). With this new functionality, users can measure the quality of SI data by...
EFETnet’s and DTCC Selected by Industry to Develop Commodity Derivatives Trade Repository
EFETnet and DTCC Deriv/SERV (DTCC), announced that the two at-cost, user governed industry cooperatives are collaborating with market participants in the commodities industry to establish a global Commodity Derivatives Trade Repository. The proposed new repository, which will be domiciled in Europe and jointly owned by DTCC and EFETnet, follows EFETnet and DTCC being selected by...
ISDA Announces Commodity Derivatives Trade Repository Selection
The International Swaps and Derivatives Association, Inc. (ISDA) announced today that the ISDA Commodities Steering Committee has chosen Depository Trust & Clearing Corporation (DTCC) Deriv/SERV and EFETnet to partner with the Committee on the next stage of development of the Commodity Derivatives Trade Repository. This selection is the result of a public Request for Proposals...