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DTCC Plans to Expand CCP Services and Streamline Netting Process for MBSs
The Depository Trust & Clearing Corporation (DTCC) is planning to introduce daily trade netting for mortgage backed securities (MBS) transactions to further expand its planned central counterparty services. It hopes to cut the high cost of processing these trades and bring greater risk protection to this traditionally risky market. In a white paper recently published…
DocGenix and Markit Team up for Documentation Risk Management Initiative
OTC derivatives documentation specialist DocGenix and Markit Document Exchange have signed a strategic initiative aimed at combining their respective offerings to create a single platform for the management of complex legal agreements. Penny Davenport, managing director and head of Markit Document Exchange, explains that the two vendors have been in discussions about the project since…
Avox and Cusip Global Services Launch New 10 Character Business Entity Identifier Code
Avox and Cusip Global Services (CGS), which is managed by Standard & Poor’s on behalf of the American Bankers Association, have joined forces to create a universal identification system for global business entities. Ken Price, CEO of Avox, and Scott Preiss, vice president in the Securities Classifications group at S&P, explain the details of the…
SIX Telekurs Partners with CSV for Complex Securities Pricing
SIX Telekurs has signed a partnership agreement with CSV Incorporated in order to expand its evaluated pricing for illiquid securities with complex structures. The vendor has added CSV as a source of independent, transparent valuations for complex securities to provide its customers with more coverage and greater depth of information, explains Barry Raskin, managing director…
Just in Time: Current Trends in Risk Management Data Supply
By Marc Alvarez, senior director, Reference Data Infrastructure, Interactive Data The global upheaval of the capital markets over the past few years has resulted in a wholesale, industry-wide effort to improve the risk management function. When looked at from the perspective of the data supply chain that services the risk management role, a major shift…
Reval Releases New Version of its Web-based SaaS Offering for Fair Value Developments
Risk management solutions and valuations provider Reval has released a new version of its web-based software as a service (SaaS) offering, which it claims includes enhancements to allow for credit adjusted valuations in accordance with fair value accounting standards. Jiro Okochi, the vendor’s co-founder and CEO, explains that version 9.0 of the solution provides a…
Unnamed French Bank Picks XSP for Corporate Actions Processing
An unnamed “large” French bank has selected XSP’s v5 platform to automate its corporate actions processing, according to the vendor. The bank will be rolling out the data management and scrubbing module, the notifications and responses module and the web-based eTRAN module for automated notifications, response capture and elections processing. Brendan Farrell, CEO of the…
DTCC Appoints Four New Board Directors: Dan, Daffron, Taggart and Vince
The Depository Trust & Clearing Corporation (DTCC) has appointed four new members to its board of directors: Stephen Daffron from Morgan Stanley; Bernard Dan from MF Global; Richard Taggart of AllianceBernstein; and Robin Vince from Goldman Sachs. Donald Donahue, DTCC chairman and CEO, hopes that the recently appointed members will provide new insight and direction…
One View on Transparency
By Douglas Long, executive vice president of business strategy at Principia Whether looking at structured finance operations within commercial banks, or the exposure of these portfolios on the wider enterprise, markets or economy, the crisis has demonstrated there is room for improvement for everyone at this time of transition. The current financial crisis has highlighted…
Charles River Development Integrates IMS with Thomson Reuters’ Market Data System
Charles River Development has integrated its Investment Management System (IMS) with the Thomson Reuters Market Data System, including its real-time exchange, contributed and reference data. Charles River has integrated the data to provide its clients with seamless access to the Thomson Reuters offering and thus allow for greater flexibility and choice of data providers for…