Riskart Announces Release of New OTC Derivatives Publishing Mechanism
Following the announcement of the decision from the Committee of European Securities Regulators (CESR) to back European Commission plans to compel transaction reporting on OTC derivatives, Riskart today announced the release in beta test of its new XML-based publishing module. This will allow the publication in XML in compliance with FpML standards from its OTC...
UK FSA Confirms Data Format of Reports for Derivatives on Regulated Markets
The deadlines may have slipped but the UK Financial Services Authority (FSA) has released more details surrounding the formats required for its new Alternative Instrument Identifier (AII) transaction reporting regime. The regulator last week released a new document aimed at confirming the way in which transactions in reportable securities derivatives admitted to trading on a...
Fitch Releases Global Money Market Fund Rating Criteria
Fitch today released updated rating criteria for money market funds, with particular emphasis on funds that invest in short term debt instruments issued by financial institutions, non-financial corporations and asset backed commercial paper programmes (often referred to as ‘prime’ funds). Prime money market funds were central to the financial crisis last year following the failure...
Another Delay to UK FSA’s AII Deadline for Derivative Transaction Reporting
The UK Financial Services Authority (FSA) has just announced yet another delay to the go live date for transaction reporting using the Alternative Instrument Identifier (AII). The deadline was delayed from November 2008 to the first quarter of 2009, then another announcement in February this year delayed the deadline by which approved reporting mechanisms (ARMs)...
MSRB Grants Omgeo Approval for Suppression of Paper Confirms for Municipal Bonds
Omgeo, the global standard for post-trade efficiency, today announced that the Municipal Securities Rulemaking Board (MSRB) has issued an interpretive notice regarding Rule G-15, allowing clients to leverage Omgeo inSITE to fulfil their municipal bond confirmation requirements electronically instead of with paper. MSRB Rule G-15 requires that at or before the completion of a transaction...
US SEC Finally Passes New Credit Ratings Agency Rules
Following months of speculation, the US Securities and Exchange Commission (SEC) has finally passed new regulations to tighten its supervision of the credit ratings agency sector. This corner of the market, which is dominated by the big three: Moody’s, Standard & Poor’s and Fitch, has come under heavy critical fire due to its contribution to...
Princeton Financial Systems presents DVS Publisher Suite 3.0
Princeton Financial Systems (PFS), a provider of investment accounting, investment compliance, data management, performance measurement, and reporting solutions for the global investment industry, introduces version 3.0 of its DVS Publisher Suite. This reporting solution supports investment and asset managers in their automated production and distribution of reports. One of the strengths of version 3.0 is...
Fiserv Expands Financial Control with Launch of Spreadsheet Workbench
Fiserv has launched Spreadsheet Workbench, a comprehensive spreadsheet control solution, to complement its Financial Control Solutions (FCS) suite. In a recent survey by Fiserv, nearly 90% of organisations believe that current practices in using spreadsheets do represent a material risk, yet the majority of respondents said they had only the most rudimentary of spreadsheet controls...
Broadridge and Newriver Deliver Summary Prospectus Solutions to the Mutual Fund Industry
Broadridge Financial Solutions and NewRiver today announced a solution to the Securities and Exchange Commission’s (SEC) newly enacted summary prospectus rule that combines Broadridge’s inventory, print, fulfilment and householding capabilities with NewRiver’s patented electronic database. Broadridge is a global provider of technology-based solutions to the financial services industry. NewRiver is the creator of a central...
DekaBank Goes Live With SunGard’s Asset Arena Compliance
DekaBank, the German savings bank finance group’s central asset manager, has implemented SunGard’s Asset Arena Compliance solution to provide back office support for all its pre-trade, post-trade and post-net asset value (NAV) compliance requirements. Asset Arena Compliance gives DekaBank a standardised and flexible compliance solution that can help support its future growth plans. Asset Arena...