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UnaVista Expands Transaction Reporting and Reference Data Checking Services to Dutch Market
As promised by Mark Husler, head of information services business development at the London Stock Exchange (LSE), back in May, the exchange operator has extended its transaction reporting service beyond its traditional UK remit into the Netherlands. The LSE has therefore received approval from the Dutch regulator, the Autoriteit Financiële Markten (AFM), to act as…
The Consolidated Tape Iceman Cometh
We read the latest CESR advice on transaction reporting with alarm. In short, it suggested that the market had failed to find its own solution to the challenge of transaction reporting in a fragmented liquidity environment. But has it? Since the implementation of MiFID in 2007, the market has seen the launch of a specific,…
CESR’s Advice on Transaction Reporting Accepts High Cost of the Introduction of New Entity Identifiers, the BIC Will Have to Do…
As part of its overall technical advice to the European Commission on the subject of MiFID, the Committee of European Securities Regulators (CESR) has indicated that although the introduction of a “meaningful” and unique pan-European legal entity identifier for transaction reporting purposes is desirable, it isn’t practical in the short term. In its package of…
New Data Quality Standards on the Table in CESR’s MiFID Technical Advice to the Commission
Following the feedback received during the recent consultation period, the Committee of European Securities Regulators (CESR) has finally produced its technical advice for the European Commission regarding the establishment of a sequel to MiFID. As well as the expected proposals for a European consolidated tape, the papers also include a number of recommendations related to…
NYSE Technologies Names Connectivity Providers for Basildon Liquidity Centre
NYSE Technologies has named Colt, euNetworks and Verizon as connectivity providers for co-location customers accessing NYSE Euronext’s European liquidity centre in Basildon, Essex. The trio will supply connectivity to NYSE Euronext’s Secure Financial Transactions Infrastructure (SFTI) access centres, enabling co-location customers to then use the NYSE Technologies’ SFTI Optic service to ensure low latency access…
CESR Outputs Two More Papers on OTC Derivatives: New Transaction Reporting Data Requirements and Standards on the Table
To add to the veritable cartload of recent papers issued as a part of the ongoing review of MiFID, the Committee of European Securities Regulators (CESR) has added two more into the mix, this time on the subject of OTC derivatives, thus increasing the number of potential data requirements for firms on the regulatory reform…
Is the Leopard Changing its Spots?
Last month saw the approval of the package of proposals that make up the next five year strategic plan for industry network operator Swift, but what has the Brussels-based board approved in Swift 2015 and what does it mean for the industry at large? It’s early days and not much has been said publically about…
Only 26% of 450 Respondents to Oracle’s European Survey Confident in Data Management Systems’ Ability to Support Risk Function
Reference Data Review has noted on a number of occasions that data quality and data management issues lie at the heart of the risk management and compliance challenge and recent research by IT system vendor Oracle is a case in point, which indicates that only 26% of the 450 European respondents to the survey were confident…
Two Weeks Until Firms Need to Supply Their Pre-implementation Reports to the UK FSCS for SCV Compliance
The UK Financial Services Authority (FSA) has been doing its level best this year to make the industry aware of the new customer data requirements as part of the incoming Financial Services Compensation Scheme (FSCS) Single Customer View (SCV) reforms, but time is running out. Firms have the next two weeks in which to pull…
UK FSA Highlights Data Integrity Issues for Transaction Reporting, Including Specific Format for BICs
In its latest newsletter, the UK Financial Services Authority (FSA) elaborates on the reference data integrity checks that firms need to conduct to ensure that their transaction reports are commensurate with the regulator’s requirements. This includes clarification about the length of Bank Identifier Codes (BICs) for client and counterparty identification; an area where a number…