Thomson Reuters Eases the Burden of KYC Compliance with Accelus Org ID Managed Service
Thomson Reuters has set up a managed service designed to help financial institutions and their clients comply with Know Your Customer (KYC) requirements. Called Accelus Org ID, the service aims to increase the efficiency and reduce the cost of compliance by providing accurate, up to date identity data and avoiding the need to repeat the...
Data Management Summit: Regulation and Risk Prompt Tactical Approaches to Change
Regulation and risk are driving data management change programmes in many financial firms, but the approach is tactical rather than strategic, leaving the ultimate goal of consistent global data that could avert another crisis some way off. These issues were a focus at last week’s A-Team Group Data Management Summit, where a panel of experts...
Data Management Summit: Regulatory Challenges Demand Better Data Management & Risk Data Aggregation
The increasing complexity and more onerous obligations of new regulatory initiatives, particularly the recent EMIR deadlines, is demanding more sophisticated data management and better risk data aggregation programmes at banks and other financial institutions, according to industry experts at the A-Team Group’s Data Management Summit (DMS) last week. The panellists agreed that too much of...
Bank Muddles Over EMIR Compliance Could See Strategic Acceptance of New IT Business Models
As many as half of Europe’s financial institutions will have been “caught on the hop” and are now having to catch up after the latest deadline for complying with the European Market Infrastructure Regulation (EMIR) came into force last week, according to a leading industry observer. Elizabeth Goodchild, a senior consultant with Rules Financial, said...
Talking Reference Data with Andrew Delaney: COREP/FINREP – Be Afraid, Be Very Afraid
Last week’s Regulatory Update seminar, hosted by Lombard Risk, was an eye-opener for anyone who thought their work was done after the past year’s huge efforts on COREP. In particular, the session focused on the challenges to come with respect to reporting under CRD IV, FINREP and incoming Asset Encumbrance (AE) rules. Indeed, such is...
Bloomberg Adds EMIR Reporting Solution to Professional Service
Bloomberg is up and running with a trade reporting solution for European Market Infrastructure Regulation (EMIR) ahead of next week’s deadline. The company has used existing infrastructure to set up the solution and will initially report trades to European trade repositories operated by DTCC and Regis-TR. Bloomberg is offering the EMIR reporting solution as a...
Gaia Transparence Adds Numerix Analytics to Open Source Platform to Deliver EMIR Solution
Gaia Transparence, a 2012 start-up dedicated to open source software for capital markets, has embedded Numerix analytics in its Transparence platform to deliver a compliance solution for European Markets Infrastructure Regulation (EMIR) ahead of the February 12 deadline for reporting derivatives trades to a trade repository. The company offers two versions of the open source...
Markit Adds Data and Connectivity to MarkitServ to Support EMIR Reporting
Markit is meeting European Market Infrastructure Regulation (EMIR) reporting requirements by adding additional data fields and data to its MarkitServ reporting solution and connectivity to DTCC’s UK derivatives repository. The EMIR service went live last month after MarkitServ sent several million trade records to the DTCC derivatives repository on behalf of over one hundred firms...
Opinion: A Bite-Sized Approach to IBOR
Paul Westgate, product manager, Linedata Much has been written over the past couple of years on the subject of IBOR – the Investment Book of Records. These discussions tend to focus, quite rightly, on the benefits of an IBOR, inferring that a true IBOR solution exists today. Can firms move from inadequate present day systems...
Details of Fatca Compliance Remain Elusive Despite Looming Deadlines
The first deadline for reporting under the US Foreign Account Tax Compliance Act (Fatca) is set for July 1, 2014 and it looks like it will stay that way, despite calls from industry participants for a delay on the grounds that they need more time to prepare and that the Internal Revenue Service (IRS) has...