The Clifton Group Selects F3 SDK
Fincad, a global provider of financial analytics, and The Clifton Group, a SEC registered investment advisory firm, announced today that Clifton has selected the F3 SDK analytics platform to expand their existing enterprise-wide derivatives pricing and valuation system. “Staying competitive in the investment advisory business means being able to react to valuation and pricing needs...
Schapiro Confirms SEC is Still on Course to Meet 2011 Deadline for Decision on IFRS
Earlier this year, Securities and Exchange Commission (SEC) chairman Mary Schapiro indicated that the regulator would be kicking off research efforts into how best to move the US towards adopting International Financial Reporting Standards (IFRS). This week, Schapiro has confirmed that despite the revised standards development timetable announced by the Financial Accounting Standards Board (FASB)...
Primevest Adopts Broadridge’s Portfolio Accounting and Performance Reporting Service
Broadridge Financial Solutions today announced that Primevest Financial Services, a leader among broker-dealers dedicated to serving financial institutions, has implemented Broadridge’s Aspire Portfolio Accounting and Performance Reporting service. Primevest can now use the integrated service both to comply with new IRS requirements and to provide sophisticated performance reporting to their more than 400,000 accounts. “As...
Hong Kong’s SFC Fines Two Merrill Lynch Subsidiaries for Risk Management and Valuations Oversight Failings
Hong Kong’s Securities and Futures Commission (SFC) has fined two Merrill Lynch Asian subsidiaries a total of HK$3,500,000 (US$450,000) for systems and controls failings in their risk management and monitoring systems that led to the mis-marking of activities in a derivatives trading book. The SFC’s investigation found that during the period from December 2007 to...
BNY Mellon’s Ingle Discusses the Data Challenges Inherent in the Derivatives Market Reform Process
The regulatory community is hell bent on increasing transparency into the derivatives market by any means necessary, including forcing OTC instruments to be cleared via central counterparties (CCPs) and requiring firms to report more data to new trade repositories. Reference Data Review speaks to Steve Ingle, derivatives product manager at BNY Mellon Asset Servicing, to find out...
Sophis and Koscom Win Contract for Hyundai Securities
Sophis, a provider of cross asset, front to back portfolio and risk management solutions, together with its strategic partner Koscom, has been awarded a contract to provide its Value system to Hyundai Securities, a leading Korean investment bank offering wealth management, brokerage and corporate financial services. Hyundai Securities is an affiliated company of the Hyundai...
S&P Further Enhances ABSXchange Loan Analytics Platform
Following enhancements made to ABSXchange, S&P’s structured finance and whole loan analytics platform, European ABS market participants will be able to perform more robust analysis of structured finance and whole loan transactions. The latest release of ABSXchange introduces a series of enhancements to the platform’s portfolio analysis capabilities and a new collateral analytics module which...
Northern Trust Supports Fair Value NAV Pricing for EMEA Clients
Northern Trust has implemented a daily Fair Value NAV Pricing tool for its fund management and institutional clients in Europe, Middle East and Africa (EMEA). Through an automated system, Northern Trust can fair value securities on a daily basis to deliver NAV (net asset value) unit prices significantly reducing opportunities for market timing in different...
Interactive Data’s Haddad and Russell Indexes’ Caswell Talk up Fair Value Adjusted Index
At the end of March, Interactive Data’s Pricing and Reference Data business and Russell Investments teamed up to launch a new service aimed at providing fair value adjusted data on the latter’s global equity indices. The vendors are now exploring the expansion of the service and are consulting with customers about whether it should increase...
Markit Adds Structured Products to Portfolio Valuations Service
Markit, a global financial information services company, today announced it has extended the range of instruments covered by its Portfolio Valuations service to include structured products. The addition of structured products is a major milestone in Markit’s on-going programme to develop comprehensive, independent pricing analytics. Markit now provides valuations for a wide range of equity,...