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Financial Crisis Has Focused Institutions on Data Quality Initiatives, Says Information Difference
The recent financial crisis will not deter financial institutions from investing in master data management (MDM) and data quality systems, according to a recent survey conducted by consulting firm the Information Difference and sponsored by Trillium Software. The findings of the survey suggest that these initiatives will be of mounting importance to businesses in the…
What is Your Latency IQ?
Capital markets firms have been implementing a number of different strategies for reducing latency – from increasing network bandwidth, to implementing low latency applications, to collocation – giving rise to the question: What’s next? To get the best trade, firms realize their need for visibility into the entire chain of trade execution events in real…
‘Tis the Season to be Wary
It would be a vast understatement to say it has been a challenging year; for many 2008 has been wrought with redundancies, pay cuts and a significant increase in workload. ‘More for less’ seems to have been adopted out of necessity as the latest industry catchphrase. However, it has not all been doom and gloom:…
IBM Data Governance Council Promotes XBRL for Risk Measurement Reporting Standards
Originally appeared in MiFID Monitor In order to tackle the inconsistency in the measurement of aggregate risk in the market the IBM Data Governance Council is seeking responses from market participants to its recent proposals for risk measurement reporting standards. The group, which was set up three years ago by IBM and comprises 50 financial…
UK FSA Agrees to Review JWG-IT Group Proposals on Counterparty Data Management
Originally appeared in MiFID Monitor The UK Financial Services Authority (FSA) has agreed to review London-based think tank JWG-IT Group’s guidance on wholesale customer data management, which it plans to submit to the regulator in the first quarter of next year. The group is in the process of drawing together industry guidance that is aimed…
Finra’s Goldschmid Calls for Major Changes at SEC, Including Merger with CFTC
Originally appeared in MiFID Monitor Harvey Goldschmid, a member of the board of the Financial Industry Regulatory Authority (Finra) and former Securities and Exchange Commission (SEC) commissioner, has called for wide ranging changes to the regulatory body, including a merger with the Commodity Futures Trading Commission (CFTC). He discussed the matter at a recent conference…
Exchange Operators Call for CDS Clearing to Become Mandatory
The contenders in the clearing counterparty (CCP) race have indicated that they wish for credit default swap (CDS) clearing to be made mandatory. Testifying before the US Congress, the four exchange operators involved in the CCP space, IntercontinentalExchange (ICE), the Chicago Mercantile Exchange (CME) Group, NYSE Euronext’s Liffe and the Eurex derivative division of Deutsche…
Mark-to-Market Could be Here to Stay Says SEC, While Cox Talks up Best Practices
The Securities and Exchange Commission (SEC) is likely to refine the application of mark-to-market accounting rules rather than replace them, according to recent market reports. The regulator is currently engaged in a study of the rules, which it must send to Congress by 2 January. SEC chairman Christopher Cox spoke about some of its findings…
European Commission Working Group Releases Market Standards for General Shareholder Meetings
A European Commission sponsored working group has made public a consultation document that details harmonised communication standards for general shareholder meetings in Europe. According to the Joint Working Group on General Meetings (JWGGM), the standards are aimed at increasing the levels of non-domestic shareholder participation in general meetings across Europe and are part of the…
Current Market Conditions Causing Increased Corporate Actions Complexity, Says FISD Panel
Corporate actions models and processes are being ‘pushed’ by the current financial market activity, and the increasing focus on risk and regulations is having an immediate and clear impact on the business of managing corporate actions information, according to a panel of specialists at Wednesday’s FISD Issue Brief event in London. According to Dean Hogan…