TradingTech Insight Blogs The latest content from across the platform
UK FSA Warns Will be Examining Firms’ Data Practices Around AML
The UK Financial Services Authority (FSA) has given the industry a heads up in its latest newsletter that it will be scrutinising firms’ systems and controls around anti-money laundering data, especially for politically exposed persons (PEPs), over the course of the next five months and going into next year. Details of the regulatory project are…
Xtrakter’s Response to CESR MiFID Review Highlights Costly Challenges of Client Identification
Following the publication of the Committee of European Securities Regulators’ (CESR) consultation papers on MiFID earlier this year, industry groups have submitted their responses to the proposals, including providing feedback on the potential data costs and system requirements to cope with the changes. To this end, the British Bankers’ Association (BBA) and Xtrakter Transaction Reporting…
Thomson Reuters’ Redwood Steps Down; What’s Next?
The resignation this week of Mark Redwood, head of Thomson Reuters Markets’ Sales & Trading unit, confirms Step 2 of the three-step CEO succession scenario we outlined back in March. But it appears that despite two of our three predictions coming to pass, Thomson Reuters will look outside the firm when it moves to name…
Entity and Counterparty Data in the Spotlight
Members of the JWG Customer Data Management Group speak to Reference Data Review about the upcoming hot topics in the area of entity and counterparty data. Challenging the Customer Data Conundrum PJ Di Giammarino, CEO of JWG A key theme within the well versed G20 93 point plan set out in spring 2009 was the call to…
EBF Highlights Concerns About CCPs and Systemic Risk in its Feedback to Commission’s Market Infrastructure Reforms
There has been a lot of discussion about the pros and cons of mandating clearing for OTC derivatives and the comments received so far by the European Commission on the subject have tended to focus on a proportional, rather than broad brush, approach to the reforms. The European Banking Federation’s (EBF) response, for example, has been…
The Market Data Cloud @ SIFMA
Like many of you, I’ll be at SIFMA next week. I have a full schedule of meetings on Tuesday and Wednesday, but on Thursday I am at the A-Team booth (#2101) in the Grand Ballroom all morning – from 9am to Noon. So come by and say hello. Also, on Wednesday, I am taking part…
JWG’s MiFID League Table Includes Four Main Reference Data Considerations
As previously noted by Reference Data Review, the current review of MiFID encompasses a whole host of reference data issues, which think tank JWG has handily included in its recently updated MiFID league table. The four main reference data changes comprise the new requirements for counterparty and client identifiers, the extension of post-trade data requirements, changes to…
Engineering Approach to Data Management Challenges of New Regulation is Best, Says HSBC’s Johnson
The deluge of regulatory change that is facing the data management community is best tackled by adopting an engineering approach, according to Chris Johnson, head of product management, market data services at HSBC Securities Services. Speaking at a recent Thomson Reuters pricing event as a data management representative rather than on behalf of HSBC, Johnson…
US FCIC Criticises State of Goldman’s Slow Production of Incomplete and Inaccurate CDO and Customer Data
Following the damning evidence provided by the Lehman examiner report earlier this year, proof yet again of the poor state of the industry’s data management systems comes this month from the US Financial Crisis Inquiry Commission’s (FCIC) recent dealings with Goldman Sachs. The regulatory body, which was established in May last year to examine the…
RBC Dexia Selects BCS Arc to Enhance Network Management Control
Business Control Solutions (BCS), provider of management consultancy services and financial control software to the financial services sector, today announced that RBC Dexia Investor Services, has selected BCS Arc to centralise and reconcile its agent network management data. The solution is due to go live in July this year. Prior to selecting BCS Arc, RBC…