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Buy Side and Sell Side are Experiencing Similar Pain with Regards to Document Management, Says Markit
Given the increased market focus on counterparty risk this year, firms are now beginning to spend more on the efficient management of their documentation processes, according to a recent survey by Markit. Good news then, for the vendor, which launched its Markit Document Exchange service in May last year. Penny Davenport, managing director and head…
Risk Management and Error Reduction are Key Drivers for Investment in Data Management, Says Aim and Interactive Data
Improving reference data quality in order to reduce errors is the primary reason why financial institutions have recently been engaging in reference data management projects, according to the results of Aim Software’s annual survey for 2008. Of the 340 respondents to the survey, 70% highlighted cited data quality as a key focus for these projects,…
Autonomy Agrees to Buy Interwoven for US$775m
Originally appeared in MiFID Monitor US-based EDM technology vendor Autonomy has agreed to buy legal document management system vendor Interwoven for US$775 million. According to Autonomy, the acquisition is aimed at strengthening its offering in the compliance technology sector. The deal is expected to complete in the second quarter of this year and at that…
S&P’s FIRMS Launches Raft of New Services While Facing EC Scrutiny
It certainly has been a busy month for Standard & Poor’s and it seems that some parts of the business have had a better January than others. S&P’s Cusip Service Bureau (CSB) has not had a good start to the year with the European Commission’s announcement on 12 January that it will be investigating the…
Valuations and Risk Management Feature Prominently in PWG’s Best Practices
Originally appeared in MiFID Monitor Areas such as valuations, disclosure, risk management, business operations, compliance and conflicts of interest are highlighted as critical areas for the adoption of best practices, according to the two private sector committees tasked with establishing best practices for the fund management industry. The committees, which were established in September 2007…
Wolters Kluwer Promotes Monteiro and Schwingen Within Securities Compliance Solutions
Originally appeared in MiFID Monitor Wolters Kluwer Financial Services has promoted Anna Monteiro to senior director of regulatory products and editorial operations and Randy Schwingen to director of corporate actions products and editorial operations. Previously, Monteiro was director of product strategy for the securities compliance solutions group and Schwingen was senior product manager for corporate…
Southwest Securities Selects XSP for Corporate Actions Processing
Texas-based broker-dealer Southwest Securities has selected XSP to automate its corporate actions processing. As a result of the deal, the firm will roll out the XSP data management module and XSP’s Electronic Tracking Response and Notifications (eTRAN) module for automated notification, response capture and elections processing. Brendan Farrell, CEO at XSP, explains that the vendor…
Merrill Corporation’s Schlanger Joins XBRL US Board of Directors
Originally appeared in MiFID Monitor Michael Schlanger, vice president of product management for XBRL at technology vendor Merrill Corporation, has been appointed to serve on the XBRL US board of directors. According to the vendor, Schlanger develops financial product strategies in response to client and regulatory needs and is on the leadership team guiding the…
Seven Ways to Reduce IT Costs with Master Data Management
By Ravi Shankar, senior director of product marketing at Siperian Information technology managers are facing a dilemma given the current economic climate – despite budget cuts, companies do not expect reductions in the service levels provided by IT to the business. Under such circumstances, how do you maintain or improve service levels, and continue to…
SEC Continues Defence of Fair Value Accounting Standards
The Securities and Exchange Commission (SEC) again defended its decision to retain fair value accounting standards on 30 December, following further calls from the banking community to suspend the contentious rules. The regulator has previously stated that it will be focused on improving rather than suspending the rules. “Fair-value accounting did not appear to play…