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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…
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…
LSE Adds Yet More to its UnaVista Platform by Adding Support for FIX and XML
The London Stock Exchange (LSE) is certainly keen to add all the bells and whistles necessary to attract the maximum number of customers to its flagship post-trade platform UnaVista. Following the move of its transaction reporting service onto the platform earlier this month, the exchange operator has now added support for FIX and XML standards…
September 2014 is Revised Deadline for T2S; New Directive Poses Potential Threat
As noted by Reference Data Review earlier this year, the launch of the European Central Bank’s (ECB) Target2-Securities (T2S) project has been delayed by at least a year due to a “longer than expected” development phase. Hugh Simpson, senior advisor to the T2S programme from Bourse Consult, told delegates to last week’s Xtrakter user conference that new…
Middle Office Cinderella Finally Getting its Day in the Spotlight Due to New Transparency Requirements, Says Op Risk Panel
The new transparency requirements that are being mooted as part of the MiFID review process by the Committee of European Securities Regulators (CESR) have resulted in a surge of interest and investment in the middle office, according to panellists discussing operational risk at last week’s Xtrakter user conference. Godfried De Vidts, director of European Affairs…
Consensus is the Hardest Word
If nothing else, the reference data utility panel at last week’s Xtrakter conference again proved how difficult it is to agree on the best way to proceed with data standardisation, even if the conversation about the subject has been ongoing for several years. Francis Gross, head of the external statistics division at the European Central…