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Worried About IBEI and MiFID? Don’t Be… By Georg Eisel, Managing Director, WM Datenservice
As markets coalesce across systems and nations, the financial industry is faced with a new challenge. Thanks to new information technology, products and services are more integrated than ever. EU legislation, such as Basel II, the Transparency Directive and MiFID, is on the increase. It is now incumbent upon the financial industry to come to…
Ascend Launches Checker to Address IBAN/BIC Requirements
Cross-border payments specialist Ascend Global Solutions has added Checker to its suite of J2EE products. Checker is a web-based tool designed specifically to mitigate the effect of the recent BIC to IBAN initiative, which requires that all euro payments must have valid branch and account numbers to avoid the risk of rejection and penalty charges….
Capco, Systar Ally for Real-Time Monitoring of Client Lifecycle
Capco and Systar have joined forces to provide financial institutions with real-time and intraday monitoring environments that will sit on top of Capco’s client lifecycle management (CLM) solution. Users will have access to real-time data to monitor their CLM processes. Says Nick Jackson, partner at Capco: “We already have a managed service offering to which…
CounterpartyLink Upgrades Compliance Product for MiFID
CounterpartyLink has upgraded its compliance data product to address the requirements of MiFID and the Third EU Money Laundering Directive, both of which come into effect in November this year. Although each of the new directives has its own specific requirements, there are some common themes around the need to adopt a risk-based approach to…
Swift Gears Up for CIVICs, Nears Selection of Data Partners
As it evaluates third party database solutions and prepares to select a partner or partners to bolster its data gathering and validation capabilities, bank-owned messaging services provider Swift is making progress towards the creation of a directory of collective investment vehicle identification codes (CIVICs) based on the bank identifier code (BIC). However it is resolute…
Telekurs Specifies Reference Data Changes for MiFID Compliance
Telekurs Financial has released further details of the reference data it is adding to its Valordata Feed (VDF) to help its clients comply with MiFID. These details add flesh to the bones of the announcement the vendor made late last year of its plans to address the data requirements of MiFID (Reference Data Review, November…
New Head of ICMA Ltd Milne Predicts Data Aggregation Role
As a collector of data, the International Capital Market Association (ICMA) will play an important role in helping the industry deal with the increased reporting requirements, need for greater transparency and greater requirement for accurate data in a post-MiFID/Basel II European marketplace, believes the new managing director of ICMA Ltd, Kevin Milne. The changes to…
Schroders Takes Citadel’s CADIS For Pricing and Analytics
Global asset manager Schroders plc is implementing Citadel Associates’ CADIS data management system for pricing and analytics. Schroders is the fourth investment manager to take CADIS in recent months, with others including AMVESCAP and the Canada Pension Plan Investment Board (Reference Data Review, November 2006). Robin Strong, Citadel’s head of sales and marketing for EMEA,…
MIS Offers Case Management Tool Based on Cicada Technology
Cicada’s Profiler Solutions division is deploying components of its Profiler customer due diligence/KYC software to develop a case management tool for McDonald Information Service (MIS), provider of information on the reliability of retail and institutional accounts to more than 4000 financial institutions worldwide. The tool, called MIS CM, will be provided as an ASP in…
Omgeo Releases Alert Plus For Bulk SSI Upload Capability
Post-trade, pre-settlement trade management services provider Omgeo, the joint venture company of DTCC and Thomson Financial, has released and signed up the first users for Omgeo Alert Plus. This new feature set within the Omgeo Alert web based database for the maintenance and communication of standing settlement and account instructions is designed to give high…