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Basel Committee Issues High Level Principles for Accounting Standards
The Basel Committee on Banking Supervision has released a set of high level principles to assist the International Accounting Standards Board (IASB) in replacing International Accounting Standard (IAS) 39, which is related to fair value measurement. The IASB is currently endeavouring to develop new global accounting standards to improve the decision usefulness and relevance of…
Markit and DTCC Launch MarkitServ
Markit and the Depository Trust & Clearing Corporation (DTCC) today launched MarkitServ, a new company that combines the two organisations’ electronic trade confirmation and workflow platforms to provide a single gateway for OTC derivative trade processing. Jointly owned by DTCC and Markit, MarkitServ combines the DTCC DerivServ and Markit Wire trade confirmation platforms to cover…
Cadis Opens Office in Hong Kong, Appoints Zhang to Head
Following its solution land grab with the acquisition of C8 earlier this year, enterprise data management (EDM) vendor Cadis has expanded its geographic footprint with the addition of a new office in Hong Kong. Focused on the Asia Pacific market, the new office will be headed by Disheng Zhang, who has joined the vendor as…
Advent Links Geneva to Thomson Reuters’ DataScope for Pricing and Reference Data
Thomson Reuters has scored another key win for its DataScope Select service with the signing of an agreement with investment management software provider Advent Software to provide its portfolio management and fund accounting solution with pricing and reference data. Under the terms of the agreement, the two vendors will create and interface to link Advent’s…
Is the Upcoming G20 Meeting the Only Hope for Convergence of Global Accounting Standards?
Government officials at the April G20 summit agreed that some degree of harmonisation is needed in order to achieve a globally accepted set of accounting standards. However, this year has instead witnessed further divergence on these standards, as the each jurisdiction has sought to tackle the fallout from the downturn in the markets. The US…
Bankers Almanac Launches Online Document Verification for its Due Diligence Repository
Bankers Almanac, a provider of reference data for payments, due diligence and risk assessment, has announced that its Due Diligence Repository now has online document verification. The new Manage My Documents feature allows providers of the documents to review, confirm or supply replacements online into the Due Diligence Repository. It increases the speed at which…
Only Half of RDR Readers Have Formal Metrics in Place to Measure Data Successes
Despite the downturn in the financial markets and cost pressures on data management budgets, half of Reference Data Review readers still do not have formal metrics in place to prove the success of a project, according to the results of our recent reader poll. The poll results indicate that half of respondents continue to use…
DPC DATA MuniGUARD Addresses Bond Dealers’ Mounting MSRB and Finra Compliance Concerns
DPC DATA, a provider of municipal bond disclosure data, research and data services, today announced that its new surveillance service, MuniGUARD, is helping municipal bond dealers address mounting regulatory demands and enforcement pressures related to investor protections. Providing automated notice of the latest material event filings, which can be integrated directly into trading and compliance…
US NIF and ECB’s Reference Data Utility Need Clarity and Strong Leadership, Says JWG-IT’s Di Giammarino
In order to have any hope of succeeding in achieving their goals of introducing greater data standardisation in the market, the US National Institute of Finance (NIF) and the European Central Bank (ECB) will need to provide a great deal more clarity around the benefits of their approaches, says PJ Di Giammarino, CEO of think…
US Government Sends Final OTC Derivatives Regulations Proposals to Congress
Following the publication of its white paper on an overhaul of the OTC derivatives regulatory regime last month, the US government has finally sent its proposals to Congress, which will vote on them once it returns from its August recess. The proposals include requirements for the more vanilla end of the spectrum of these instruments…