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DTCC ‘Golden Copy’ Repository is Good News for Credit Markets
News that the Depository Trust & Clearing Corp. plans to build a central repository for holding so-called golden copies of trade details for the OTC derivatives marketplace – and in particular for credit derivatives – will be welcomed by industry participants. Certainly, the credit derivatives marketplace has been crying out for help in getting its…
Wells Fargo Adopts I-flex Reveleus Data Structures
Wells Fargo has implemented a platform from i-flex’s Reveleus unit to support its credit capital calculation application in order to meet its Basel II requirements. Underlying the platform is a set of data structures, business rules, computations and definitions that is expected to help the U.S. bank comply with the advanced internal ratings-based approach of…
Aegon Asset Management Taps Citadel Cadis for Data Platform
Aegon Asset Management UK Ltd. has implemented Citadel Associates’ Cadis Data Management Platform (DMP). The Scotland-based investment management firm will use DMP in support of its outsourced securities administration and fund accounting functions, which are handled by Citigroup’s Global Transaction Services group, as well as for its own core business activities. Cadis now supplies Aegon…
CIBC Taps Cicada, CPL for Legal Entity Platform, Data
CIBC World Markets’ selection of Cicada and its CounterpartyLink (CPL) sister company to provide a comprehensive legal entity data sourcing and management platform marks the first public client win for the two Cicada Cos. siblings. The implementation is aimed at helping the Canadian bank support Anti-Money Laundering (AML) and meet other regulatory requirements. The initial…
JWG Takes MiFID Impact on Reference Data to High Granularity
The MiFID Joint Working Group has taken the bull by the horns with respect to entity identifiers and their role in the forthcoming EU Markets in Financial Instruments Directive, much hullabaloo about which continues to bubble in the London marketplace if nowhere else. The latest JWG white paper – described on Page 4 and available…
Aozora Adds Counterparty Data To GoldenSource Implementation
Aozora Bank of Japan has added GoldenSource’s Counterparty Solution to the broad data management platform it is currently implementing across all of its operations. The Japanese bank last year selected GoldenSource’s Enterprise Data Management (EDM) Suite to provide the technology infrastructure for a centralized and cleansed repository for all types of reference data, including customer,…
Baer, Winterflood Pick ValueLink For Price Data Management
Julius Baer Investment Ltd. (JBIL), an investment management arm of the Swiss bank specializing in fixed-income securities, has selected ValueLink Information Services to provide daily pricing collection for its closing portfolio valuations. Meanwhile, Winterflood Securities has said it will use ValueLink’s Shares in Issue service, which provides data validation of third-party feeds. At JBIL, ValueLink…
Decentralized Data May Cost Firms $600 Million Annually
Decentralized reference data operations and the effects of faulty data on operational risk and capital requirements could be costing financial services institutions an astonishing $600 million each annually, according to the findings of a recent research paper. The paper – titled Operational Risk and Reference Data: Exploring Costs, Capital Requirements and Risk Mitigation – claims…
Cicada Profiler, CounterpartyLink Target KYC, Patriot, AML Clients
Cicada Cos. has added new functionality within its Reference Data Management Suite to help companies comply with the due diligence requirements of upcoming regulations including the U.K. Financial Services Authority’s ‘Know Your Customer’ framework and the U.S. Patriot Act. The company is also the first adopter of a recently upgraded version of sister company CouterpartyLink’s…
J.P. Morgan Adopts Central Reference Data Hub To Support Global Credit Trading Operation
J.P. Morgan Chase is building a business-aligned reference data hub in support of the major reengineering of its credit trading operation onto a single platform. The hub – essentially a central global hub for credit reference data – will commingle corporate data, vendor data and business-specific data into a single, unified service available to all…