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WestLB Benefits from Vendor Collaboration for Data Management and KYC Efforts, Says Feast
German bank WestLB has benefited from the collaboration of all of the vendors involved in its know your customer (KYC) driven data management project, according to Sarah Feast, executive director of operations control for the bank. The bank took the decision to centralise its customer data in its Dusseldorf operations back in 2006 and has…
Sutton Elaborates on RBC’s Four Priorities for Reference Data for the Next Three Years
Since her appointment at the end of last year, Julia Sutton, global head of reference data, including customer accounts and onboarding, for the Royal Bank of Canada (RBC), has been focused on prioritising the long list of reference data issues that need to be tackled within RBC over the next two to three years. The…
DTCC Acquires Avox Limited
The Depository Trust & Clearing Corporation (DTCC) announced today that it has acquired the outstanding shares of Avox Limited, a reference data business located in the UK. Avox Limited’s primary business is cleansing and maintaining high quality reference information on legal entities and counterparties needed by financial services to support a variety of operational, risk…
DTCC Announces Intention to Establish European-based Derivatives Trade Reporting Repository
The subject of a European-based trade repository for the credit default swap market has long been a bone of contention between regulators and industry participants in the derivatives market, but it seems that the Depository Trust & Clearing Corporation (DTCC) is hoping to solve the issue by setting up a new subsidiary on European shores…
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…
DTCC’s Avox Acquisition Boosts its Overall Utility Approach to the Market
Given its ambitions to become an all round data utility provider for the financial services markets, the Depository Trust & Clearing Corporation’s (DTCC) acquisition of UK-based counterparty and entity data vendor Avox this week comes as no surprise. DTCC has been gradually positioning itself as a utility provider, rather than your common or garden vendor,…
DST Global Solutions Launches OTC Lifecycle Manager to Enhance Control of OTC Derivatives
In response to new market conditions and the changing regulatory landscape, challenges of operational risk and proliferation of OTC contracts faced by its clients, DST Global Solutions Investment Management Solutions (IMS) business has announced the launch of OTC Lifecycle Manager. The solution is focussed on facilitating the critical transition from deal negotiation to contract capture…
SunGard Enhances IntelliMatch Solution Suite
SunGard has enhanced its IntelliMatch solution suite to help tier one financial institutions streamline their enterprise-wide processes for reconciliation, exception management, financial governance and archiving. The enhancements include new intelligent workspaces, a new financial governance component and performance improvements. This latest release will help financial institutions increase operational efficiency, reduce risk and improve scalability and…
New Data Requirements for All as Conference Committee Passes Office of Financial Research Reforms
Following intensive discussions last week by the conference committee designated with the job of hammering out compromises on the US financial reform bill, the proposals for the establishment of the Office of Financial Research have finally been approved. The committee has published the final titles from the conference, which includes details of the data utility…
Half of Asset Manager Respondents to Citi Survey Plan to Outsource Valuation Function, 28% to Outsource Risk Management
Back and middle office functions such as evaluated pricing for illiquid instruments, data management, corporate actions processing and risk management are all on the radar for potential outsourcing by asset managers over the next three years, according to a recent survey by Citi. The survey, which involved 237 asset managers from 29 countries, indicates that…