SunGard Launches New Clearing Gateways for Post-trade Derivatives Solutions
In order to accommodate the changes going on in the area of derivatives clearing, SunGard is planning to launch a series of new derivatives clearing gateways throughout the course of this year for its post-trade derivatives processing solutions. Solutions such as GL Clearvision, GL Ubix and GMI will therefore include new integrated gateways in order...
DTCC Applying for Limited Trust Status for Trade Information Warehouse, Plans European Subsidiary
The Depository Trust & Clearing Corporation (DTCC) has filed applications to establish a limited purpose trust company that will house the functions of its Trade Information Warehouse for credit derivatives. The vendor has taken such a step to meet the enhanced risk and regulatory requirements of the current market, says Donald Donahue, DTCC chairman and...
HSBC USA Joins ICE Trust as a Clearing Member for CDSs
IntercontinentalExchange (ICE) has added HSBC USA as a clearing member of its clearing counterparty (CCP) for the credit default swap (CDS) market, ICE Trust. The CCP, which launched on 9 March, was the first contender in the US market to receive regulatory approval from the Federal Reserve and the Securities and Exchange Commission (SEC) and...
UK FSA Gives NYSE Liffe Green Light to Launch European CCP in July
The UK Financial Services Authority (FSA) has granted NYSE Liffe approval to launch a new central clearing counterparty (CCP) for its London derivatives market. The CCP, which will be dubbed Nyse Liffe Clearing, is due to begin operations on 27 July 2009, subject to a period of review by members of its proposed documentation. The...
Thunderhead Updates Customer Communications Platform with Two New Modules
Document management system vendor Thunderhead has released an updated version of its customer communications platform, Thunderhead Now. Version 5.0 of the solution features two new modules: Contribute Now for the updating of content by non-technical users; and Analyse Now, which includes a set of new analytical tools. Glen Manchester, CEO of the vendor, explains that...
NewRiver Releases Summary Prospectus Index for Tracking on SEC’s Edgar
NewRiver has released a new tool that tracks all summary prospectus filings on the Securities and Exchange Commission’s (SEC) Edgar database. Dubbed NewRiver Summary Prospectus Index, the new offering tracks fund families, fund names and the number of filings for both standalone summary prospectuses filed via Form 497K and filings of statutory prospectuses that include...
DTCC Plans to Expand CCP Services and Streamline Netting Process for MBSs
The Depository Trust & Clearing Corporation (DTCC) is planning to introduce daily trade netting for mortgage backed securities (MBS) transactions to further expand its planned central counterparty services. It hopes to cut the high cost of processing these trades and bring greater risk protection to this traditionally risky market. In a white paper recently published...
ICE Gears up for European CDS CCP Launch in the Coming Months
Following the launch of its North American credit default swap (CDS) clearing operations at the start of March, IntercontinentalExchange (ICE) has indicated that it is planning to launch a European version in the next month or so. The ICE Trust clearing counterparty (CCP) will be used as the model for the new European operations and...
Just in Time: Current Trends in Risk Management Data Supply
By Marc Alvarez, senior director, Reference Data Infrastructure, Interactive Data The global upheaval of the capital markets over the past few years has resulted in a wholesale, industry-wide effort to improve the risk management function. When looked at from the perspective of the data supply chain that services the risk management role, a major shift...
One View on Transparency
By Douglas Long, executive vice president of business strategy at Principia Whether looking at structured finance operations within commercial banks, or the exposure of these portfolios on the wider enterprise, markets or economy, the crisis has demonstrated there is room for improvement for everyone at this time of transition. The current financial crisis has highlighted...