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Avox Partners with Markit Document Exchange to Provide Combined Offering
Following the announcement of its partnership with EDM vendor Asset Control in February, business entity data specialist Avox has signed another partnership agreement, this time with Markit’s documentation management platform. Under the new agreement, Markit Document Exchange and Avox will work together to provide their mutual clients with a combined business entity data and documentation…
Cadis Acquires Compliance Reporting Software Vendor C8 Software
EDM vendor Cadis has acquired management information and compliance reporting software provider C8 Software in a bid to combine the two vendors’ offerings and meet clients’ reporting and risk data requirements. Daniel Simpson, CEO of Cadis Software, explains that the new offering is aimed at cleaning up what he sees as often poor quality data…
Pendo Systems Develops OTTI Analysis Report for FASB Accounting Requirements
Accounting solutions vendor Pendo Systems has developed a new report aimed at assisting its clients in identifying investments that come under the other than temporary impairment (OTTI) classification, as specified by the Financial Standards Accounting Board (FASB). OTTI has been a hot topic over the last few months, as the FASB has been coerced by…
SEC’s Ratings Roundtable Agrees to Change Fee Structures for Ratings Agencies
This week’s long awaited Securities and Exchange Commission (SEC) roundtable on the future of the ratings agencies threw up very few surprises. The regulator’s chairman Mary Schapiro confirmed that the agency is planning to change the way that ratings agencies are paid to minimise the potential of conflicts of interest and roundtable participants agreed there…
DTCC and Markit Partner for Automation of Syndicated Loan Reconciliation
The Depository Trust & Clearing Corporation (DTCC) is establishing a link between its Loan/SERV Reconciliation Service and Markit’s Wall Street Office (WSO) loan management system. The two vendors are working together to establish the link, which they claim will facilitate the automation of syndicated loan reconciliation and thus reduce the operational risk involved in the…
ICE Trust Claims Clearance of US$71 Billion in First Four Weeks
Following its launch on 9 March, IntercontinentalExchange’s clearing counterparty (CCP) for the credit default swap (CDS) market, ICE Trust, has cleared US$71 billion of CDS index contracts, says Dirk Pruis, president and chief operating officer of the CCP. ICE Trust was the first CCP to clear CDS transactions in the US market, as it gained…
Broadridge Launches Virtual Shareholder Meeting Service, Including Online Voting
Broadridge Financial Solutions has launched its new Virtual Shareholder Meeting (VSM) service, which allows corporate issuers to conduct their annual shareholder meeting electronically. The online meeting format, which can be streamed as audio or video feed, is aimed at increasing participation in annual general meetings and may drive up the volumes of corporate actions events…
Fitch Ratings and S&P to Consider Counterparty Risk Measurement Changes
Ahead of the Securities and Exchange Commission (SEC) roundtable on the 15 April, Standard & Poor’s and Fitch Ratings have both indicated that they are considering changes to the way they assess counterparty risks for certain structured products. The SEC is due to scrutinise the practices of the ratings agencies later this month and is…
Lack of Standardisation Remains a Sticking Point for Counterparty Data Management, Says Panel at A-Team Group, Asset Control and Avox Event
The topic of counterparty risk is no stranger to the headlines at the moment but, despite its high profile, counterparty data management has still got a long way to go, according to speakers at a recent event organised by A-Team Group, Asset Control and Avox. Martijn Groot, director of market strategy at EDM vendor Asset…
FASB to Vote on Controversial Fair Value Proposals on 2 April
Following the heavy criticism that has been levelled at the Financial Accounting Standards Board (FASB) for its failure to act on issues with fair value accounting standards, the industry body has indicated that it is now preparing for the final vote on its proposals, which were announced on 16 March. The FASB will be carrying…