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ISDA Approves BGC Partners’ Swaps Pages as Pricing References
The International Swaps and Derivative Association (ISDA) has formally recognised interdealer broker BGC Partners’ euro interest rate swap (EUR) and US dollar (USD) interest rate swap pages as price references. The pages will be snapshots of real-time BGC screens taken at a predetermined time daily. ISDA documentation governs the terms to confirm, mark, assign and…
SEC Provides Details of Upgrade to Edgar Database
Earlier this week, Securities and Exchange Commission (SEC) chairman Christopher Cox announced the upgrade to its reporting and disclosure system, the Edgar database. According to Cox, the new XBRL-based platform will give investors faster and easier access to key financial information about public companies and mutual funds, when it is introduced over the next three…
Thomson Reuters Down 54% as a Result of Merger Costs
The US$15.9 billion merger of Thomson Financial and Reuters earlier in the year has had a significant impact on the merged entity’s profits as well as on its staffing levels. Substantial integration costs have caused the media group and financial data provider’s second quarter profits to fall by 54%. At the time of the merger,…
The Opportunities for Cost Savings in Performance Reporting
By Penny Davenport, managing director at Markit Document Exchange In 2008, “credit crunch” has become part of the common vocabulary used across all types of media from business programmes to style magazines. According to Wikipedia, a credit crunch is a sudden reduction in the availability of loans or credit, or a sudden increase in the…
The Right and Wrong Approaches to Enterprise Master Data Management Journeys
By Ravi Shankar, senior director of product marketing at Siperian There are two kinds of organisations: those that have implemented a master data management (MDM) solution and those that haven’t but undoubtedly will in the near future. Despite where each organisation may be in their MDM effort, what each have in common are questions about…
DTCC Appoints Lewis to Head New Syndicated Loan Business
The Depository Trust & Clearing Corporation (DTCC) has appointed Mathew Keshav Lewis to head up its new syndicated loan business in Europe. Lewis will become vice president, European loans product management, and lead the business development for DTCC’s new LoanServ product line in Europe. LoanServ is a new suite of services that DTCC says will…
NewRiver Joins XBRL US as Part of Plan to Simplify Financial Disclosure
NewRiver, a US provider of a central repository of mutual fund documents and data for financial services firms, has joined XBRL US, the national consortium for XML business reporting standards. The firm has joined the consortium in order to help the industry simplify financial disclosure, according to Russ Planitzer, president and CEO of NewRiver. The…
Essent Trading Replaces Proprietary Pricing Database with Asset Control’s Platform
Swiss energy trading outfit Essent Trading has picked Asset Control’s data management software to replace its proprietary pricing database. The firm is using the Asset Control solution to centralise its energy and commodity market data. According to Essent Trading, its growth in energy and commodities across markets in Europe means that the ability to manage…
SEC Launches Online Reference Site for AML for Mutual Funds
Originally appeared in MiFID Monitor The Securities and Exchange Commission (SEC) has unveiled a new one-stop online reference site to assist mutual funds in their anti-money laundering (AML) compliance efforts. It has also launched a new centralised phone line specifically for securities firms to report the filing of a suspicious activity report (SAR) that may…
Broadridge Completes Acquisition of Investigo as Part of EDM Push
Broadridge Financial Solutions has successfully completed the acquisition of Investigo Corporation as part of its plans to strengthen its positioning in the enterprise data management (EDM) and compliance space. According to the vendor, this acquisition complements a number of its initiatives targeted to support the wealth management strategies of its customers and Investigo’s products and…