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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…
Valuations Vendor Consolidation is on the Cards as a Result of Introduction CDS CCP, Say RDR Readers
Most Reference Data Review readers believe the introduction of a clearing counterparty (CCP) in the credit default swap (CDS) market will result in a period of consolidation within the valuations vendor community. According to the results of our recent poll, 56% of readers believe consolidation is on the cards, whereas an optimistic 11% think there…
Regulatory Oversight and Independent Verification Needed for Valuations, Says Bank for International Settlements
Internal and regulatory oversight of the valuation process is essential to ensure that sources of prices are diverse and reliable, according to a recent report by the Bank for International Settlements (BIS). The BIS report suggests ways for financial institutions to assess the fair value of their assets, including promoting the need for independent verification…
Tullett Prebon and GFI Heads Call for Competition in CDS CCP Market, WMBA Says CCPs Not Desirable for Every OTC Market
As the end of November draws near and the competition intensifies between the candidates in the credit default swap (CDS) clearing counterparty (CCP) race, it seems that everyone in the market has an opinion on the matter. This week it is the turn of two CEOs from the interdealer-broker camp and the Wholesale Market Brokers’…
SolveXia Integrates Fincad’s Derivative Pricing Libraries into SolvenSeerF+
Risk modelling solution provider SolveXia has joined the Fincad Alliance Program to integrate Fincad’s derivative pricing libraries into its SolvenSeerF+ application. Via this partnership, users of SolvenSeer F+ will have access to Fincad’s cross asset risk analytics and are able to leverage the Fincad software for robust derivative valuations by next year, says the vendor….
XBRL Announces Support for SEC’s IFRS Roadmap for US Public Companies
Originally appeared in MiFID Monitor XBRL International has publicly announced its support for the US Securities and Exchange Commission’s (SEC) proposed roadmap for the introduction of International Financial Reporting Standards (IFRS) for US companies, which was published on 14 November. The roadmap sets forth several milestones with a view to the introduction of IFRS, as…
SunGard Integrates XSP’s Corporate Actions Software with its Phase3 Solution in an ASP Environment
SunGard has integrated XSP’s global corporate actions software capabilities with its Phase3 multi-asset, multi-currency securities processing solution in a SunGard hosted application service provider (ASP) environment. Tony Scianna, executive vice president of SunGard’s brokerage and clearance business, explains that the integration was in response to requests from the vendors’ mutual client base. “Mutual XSP and…
Hedge Fund Administrators Should Provide Greater Transparency for Derivatives Valuations, Says OTC Val
Hedge fund administrators need to modify their current business and operational processes and to adopt new practices designed to provide greater insight and transparency into the value of derivatives, according to a recent whitepaper by OTC Valuations (OTC Val). The whitepaper, entitled Independent Pricing For Complex Derivatives and Illiquid, Hard-to-Value, Securities: Trends and Current Practices…
Euroclear Agrees to Buy Xtrakter Off ICMA as Part of Drive to Broaden Trade Matching Service Offering
Originally appeared in MiFID Monitor Euroclear has continued on the acquisition trail this month by signing an agreement with the International Capital Market Association (ICMA) whereby Euroclear will acquire 100% of Xtrakter, the ICMA subsidiary, for an undisclosed cash amount. Ignace Combes, deputy CEO of Euroclear, explains that the acquisition is part of the firm’s…