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...
RDUG Joins ISITC, FPL, FISD To Forge MiFID Working Group
The Reference Data Users Group (RDUG) has thrown in its cards with three other industry lobby groups to form a joint working group to address compliance issues spurred by the European Union’s Markets in Financial Instruments Directive (MiFID), whose implementation date of early 2007 is causing ructions within the securities industry operations community. Writing exclusively...
FISD Seeks Feedback for MDDL with New Working Group
The Financial Information Services Division (FISD) is seeking feedback on the data model behind the Market Data Definition Language (MDDL) as it is “moving into implementations by many of our members,” says the FISD. It has set up a Securities Model Working Group under its Securities Processing Automation efforts to address MDDL and related data...
Battle of the Reference Data Industry Groups? Atkin Launches Findac, As FISD Gears Up
Competition looks set to hit the reference data industry bodies space, as former FISD chief Mike Atkin has found a backer to set up his own industry group – Financial Data Coalition (Findac) – which appears to be in direct competition with his former employer. Findac, which has the tagline: “Promoting standards and efficiencies in...
Swift Proposes Standard Protocol for EU Clearing & Settlement
Swift has published a consultation paper outlining proposals for a standardised communication protocol for European clearing and settlement. This is in response to the Giovannini Group report to improve efficiency of EU cross border clearing and settlement. Specifically Swift is aiming to define a solution for Barrier 1 of the 15 identified barriers to efficient...
Norex Exchanges Adopt GICS Classification Standard
The Nordic and Baltic stock exchanges strategic alliance, known as Norex, is this month adopting the Global Industry Classification Standard (GICS) as its official security classification standard. GICS was jointly developed by Standard & Poor’s and MSCI in 1999 in response to what they saw as a need for a more accurate, complete and standard...
Swift’s Early Adoption Programme Paves Way for Distribution of More Data Types Over Swiftnet
A year after Reference Data Review broke the news that Swift was to open up its network to third-party vendors corporate actions data, six vendors are now in early adopter status, with a number of others in discussions to make a commitment to the project. The initiative is now on track for additional data types...
SmartStream Targets Funds with ISO 20022 Support
SmartStream Technologies has unveiled a new capability, based on its Transaction Lifecycle Management (TLM) Process Automation platform, that will help fund managers planning to link to Swift’s Swiftnet Funds Business system exploit the new ISO 20022 messaging standard. The packaged system essentially insulates fund managers’ back-office systems from the complexities of the new standard.
WG11 Drafts Model to Data Architecture Foundation
Working Group 11 (WG11) of Subcommittee 4 (SC4) of the ISO Technical Committee 68 (TC68) has released a consultation document seeking comment on it first iteration of a data model that “provides a single standard for describing a financial instrument throughout its lifecycle.” The group, formed earlier this year, is seeking comment from industry participants...
FISD Relishes Role in WG11 to Develop Financial Data Model
Delegates at the FISD’s general meeting in Paris late last month heard about the industry group’s significant involvement in International Standards Organization’s Working Group 11, which released a draft consultation paper in early March as the previous edition of Reference Data Review was going to press. Working Group 11 (WG11) of Steering Committee 4 (SC4)...