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SEC Gets on the Soapbox About XBRL and Corporate Actions, Again
Since its decision to mandate the XBRL tagging of financial reports for US firms, the Securities and Exchange Commission (SEC) has been doing its level best to keep the industry apprised of any possible compliance challenges. To this end, this month, the regulator announced yet another event, in the form of a public seminar on…
Handling Electronic Records and Dealing with Risk Management
By Robert Jones, legal consultant at Kroll Ontrack, and John Doherty, litigation partner at Manches What other challenges and benefits might arise when addressing the most effective management of electronically stored information? The Information Commissioner’s Office recently announced new fines to deter breaches of the law in relation to personal, which could see organisations being…
A Third of Hedge Funds Have Invested in Automation to Improve Pricing, According to Omgeo Survey
A third of the 50 hedge funds involved in a recent survey commissioned by Omgeo and conducted by Greenwich Associates have invested in improving their valuations and accounting systems, with many more focused on reducing counterparty risk. The fallout from the financial crisis and the intense regulatory and client scrutiny of the hedge funds market…
Avox and Cusip Global Services Finally Launch New Business Entity Identifier JV
Following the signing of a partnership agreement to launch an entity identification joint venture last April, Avox and Cusip Global Services (CGS) have finally launched their new service based on the vendors’ Cusip Avox Business Reference Entity identifier (Cabre) codes. The new offering, which has been dubbed the Cabre Directory Service, aims to provide a…
UniCredit Develops Data Esperanto to Map End User Data Sets Across Group
Italian banking group UniCredit is currently focused on extending the coverage of its data warehouse, which was rolled out in 2004, beyond accounting and regulatory reporting related data items to other reference data items, says Alberto Ricciotti, head of group pricing at the bank. A key success factor in this process has been in the…
AIB’s McMorrow Explains Benefits of Teradata Warehouse Implementation and Ongoing Challenges
Allied Irish Bank’s (AIB) enterprise data warehouse project manager Michael McMorrow is a great proponent of Teradata’s functionally neutral and self-managing approach to data storage. The bank rolled out the vendor’s Teradata Warehouse solution a few years ago and is now focused on keeping up with the data management changes required as a result of…
UBS Using Front Office Technology to Deal With Reference Data Processing, Says Berry
In a move that confirms that the worlds of the front office and the back office are moving ever closer, UBS’ executive in charge of market data sourcing and strategy, David Berry has indicated that the bank is using Celoxica’s hardware appliance-based data feed handlers to process its market and reference data. The rationale behind…
Fed’s Tarullo Pushes For Mandatory Reference Data Reporting and Standardisation
This week, US Federal Reserve governor Daniel Tarullo brought the issue of data standardisation to the attention of the US Senate during his testimony before the Subcommittee on Security and International Trade and Finance, following up on his comments last year about the data challenge related to living wills reforms. He is proposing to establish…
European Regulators Ready to Engage With Data Management Community, Says CESR Tech’s Voipio
As Fed governor Daniel Tarullo’s speech drives forward the data agenda in the US, across the pond, Arja Voipio, senior advisor at the Financial Supervisory Authority in Finland (FIN-FSA) and chair of CESR-Tech, the information technology governance structure of the Committee of European Securities Regulators (CESR), told delegates to Marcus Evans’ reference data conference that…
ECB’s Utility Has a Place But Not Before Standardisation, Says BarCap’s Nagle
The old adage of not putting the cart before the horse was pertinent this week, during discussions at the Marcus Evans reference data conference on the European Central Bank’s (ECB) proposed reference data utility. The concept has been a topic of significant debate for some time now and panellists including Llew Nagle, who is in charge…