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Reval’s Okochi Appointed to CFTC Global Markets Advisory Committee
Jiro Okochi, chief executive officer and co-founder of Reval, a global derivative risk management and hedge accounting solutions provider to over 375 publicly traded companies, was voted a member of the Global Markets Advisory Committee (GMAC) by the five members of the Commodity Futures Trading Commission (CFTC). Okochi will participate in the next meeting of…
SEC Launches New XBRL Website to Speed Compliance with New Data Requirements
There can be no doubt that XBRL is big news in the US with regards to financial reporting and investor and issuer communications. The decision to mandate the use of XBRL tagging for public company statements by the Securities and Exchange Commission (SEC) this year raised its profile and the regulator has this month added…
Princeton Financial Systems Launches New Compliance Focused Data Management Module
In line with the current trend towards new vendor launches around targeted data management solutions related to compliance and regulatory reporting, Princeton Financial Systems (PFS) has added a new compliance data checking module to its MIG21 solution. The new module, MIG21 Data Manager, is aimed at reducing data related errors before the compliance checking process,…
XBRL US On the Hunt for Partners to do Legwork Around Corporate Actions Taxonomies
Given that it’s being touted as the next big thing for the financial services community, it’s no surprise that XBRL US is looking for partners to lend a hand in covering some of the groundwork for its spate of new projects. The not for profit consortium is currently working with Swift and the Depository Trust…
European Commission Finally Releases S&P ISIN Fees Judgement, Considers Vendor to be Abusing its Dominant Position
Following 10 months of deliberation, the European Commission has finally released its preliminary findings on its inquiry into Standard & Poor’s pricing practices concerning International Securities Identification Numbers (ISINs). According to its recent memo, the Commission considers the vendor to be “abusing its dominant position” as the sole appointed National Numbering Agency (NNA) for US…
Majority of Reference Data Review Readers Facing Staffing Freezes or Job Cuts
Our November Reference Data Review reader poll indicates that times are tough for data management teams out there, with the majority facing either a moratorium on hiring new staff or job cuts. Despite the increased market volatility and its knock on impact on data volumes, most data managers are being forced to make do with…
Thomson Reuters Expands Corporate Actions Data Coverage for Emerging Markets
Thomson Reuters today announced the expansion of its corporate actions data coverage to include Bosnia and Herzegovina, Ivory Coast, Kazakhstan, Macedonia, Russia, and Serbia. The extended offering increases transparency and access to some of the world’s fastest growing emerging markets by providing details on total shares, capital changes, dividends, voting rights and nominal values accessible…
LCH.Clearnet’s OTC SwapClear Service Clears One Millionth Trade
SwapClear, LCH.Clearnet Limited’s OTC interest rate swap clearing service, has cleared its millionth trade, taking the notional value of trades in SwapClear to US$206 trillion. Launched in 1999, SwapClear currently clears 64% of the global interbank interest rate swap market and the range of products cleared has been extended to include overnight index swaps of…
Fed’s Tarullo Highlights Data Management Considerations of Living Wills
The regulatory community has been abuzz with the notion of living wills, or firm specific resolution plans, for most of this year, but most have not considered the data management responsibilities inherent in the process. Daniel Tarullo, member of the board of governors of the US Federal Reserve System, addressed this issue and highlighted the…
CESR Awaits Industry Feedback on Standard Reporting Format for Securities Issuers
Industry participants have until the end of this month to respond to the Committee of European Securities Regulators’ (CESR) call for evidence on the use of a standard reporting format for financial reporting for issuers admitting securities for trading on regulated markets. In the US, the Securities and Exchange Commission (SEC) has already mandated similar…