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FSB Allocates Second Prefix for Pre-LEI Issuance Schemes to Germany’s WM Datenservice
The Financial Stability Board (FSB) has allocated a second prefix for the issuance of entity identifiers ahead of the global legal entity identifier (LEI) system going live next year to pre-local operating unit (LOU) WM Datenservice, which is issuing entity identifiers on behalf of German regulatory authority the Federal Financial Supervisory Authority. The entity identifiers…
Underlying Data and Overall Governance are Central to Surviving the Regulatory Tsunami
Financial services firms must tackle underlying data issues and enforce top-down governance strategies if they are to survive the regulatory tsunami, argued Anthony Kirby, director of Ernst & Young’s regulatory and risk management practice, at last week’s International Securities Association for Institutional Trade Communication (ISITC) conference in London. Addressing the operational impact of upcoming regulations,…
Market Practitioners Propose an Industry Data Repository to Ease Fatca Compliance
The US Foreign Account Tax Compliance Act (Fatca) was branded as an outrageous example of US fiscal imperialism and an effort by the US government to outsource tax collection to the UK by a panel of experts addressing the issue of ‘Meeting the Fatca Challenge’ at last week’s International Securities Association for Institutional Trade Communication…
FSB Clarifies Prefixes for Legal Entities Issued Ahead of the LEI and Allocates One for CICIs
The Financial Stability Board (FSB) has clarified the numbering scheme that must be used by organisations issuing entity identifiers that they want to transition into the global LEI system and allocated the first four-character prefix that is designed to support the transition of these identifiers. The prefix has been allocated to the DTCC and Swift…
Q&A: Bruce Tolley of Solarflare on Customised Compute
Marrying compute power with low-latency network communications is increasingly necessary for financial applications looking to combine intelligence with outright speed. IntelligentTradingTechnology.com spoke with Bruce Tolley, vice president of solutions marketing at Solarflare Communications to get his take on this emerging trend. Q: What is the ApplicationOnload Engine (AOE), and how is it related to your…
MarketAxess Pledges Investment in Xtrakter after Acquisition from Euroclear
The agreement between MarketAxess and Euroclear under which the former will acquire the latter’s Xtrakter subsidiary is expected to strengthen MarketAxess’ products and position in European markets, and clear the decks for Euroclear to concentrate on developing core services. The deal includes payment of £25 million ($42 million) in cash and the transfer of 70…
LEI Development Embraces Change and Picks up Speed Ahead of G20 Meeting
The Financial Stability Board’s (FSB) third progress note on the legal entity identifier (LEI) initiative, released last week, has met with a positive response from those involved in shaping the system, potential infrastructure providers and market data vendors, despite changes to some proposals and the collapse of perceptions that have built up during debate on…
Talking Reference Data with Andrew Delaney: Valuations and Electronic OTC Markets
While all eyes seem to be on the LEI and its tortuous birth, many of our clients and contacts are preparing – perhaps more quietly – for perhaps the other great challenge or opportunity of 2013: valuations. Before I set off for New York a couple of weeks ago, I was fortunate to catch up…
Capco Proposes the Creation of a Data Culture to Advance Data Management
Financial firms are falling short on data management issues such as calculating the true cost of data, identifying the operational cost savings of improved data management and embracing social media data, but according to research by consultancy Capco, these issues can be resolved with a cross-organisational and practical approach to data management and the development…
Current Solutions Lacking, Despite Foundational Nature of Reference Data
Reference data management (RDM) is a foundational element of financial enterprises, yet the collection of solutions used to manage reference data in most firms is not satisfactory, according to a report published this week. The report – Reference Data Management: Unlocking Operational Efficiencies, published by Tabb Group in conjunction with data integration specialist Informatica –…