RegTech Insight Blogs The latest content from across the platform
Cicada Packages KYC Solution…
Cicada is packaging its data management software and data cleansing team to offer a purpose-built Know Your Customer (KYC) solution. The framework will provide configurable, rules-based workflow schema to help financial institutions manage their client data review process, as well as keep an audit trail and source attribution details. The solution can manage both internal…
Progress with MiFID as First Working Group Held
The MiFID – Markets in Financial Instruments Directive – Joint Working Group efforts (Reference Data Review, April 2005) were kicked off earlier this month with the first meeting being held in London, and tasks being assigned to participants. The forward-looking objectives of the group, according to the group’s chairman Chris Pickles, are four-fold. They are,…
MiFID: Will Firms be Ready by April 30, 2007? By Dr. Anthony W. Kirby, Founder, RDUG
The European Union’s pending MiFID initiative, or the Markets in Financial Instruments Directive, replaces the Investment Services Directive (ISD), which was originally adopted in 1993. The ISD defined “home” and “host” state regulators, establishing the conditions under which authorized investment firms and banks could provide specified services in other EU member states on the basis…
Russell/Mellon Adopts Citadel’s Cadis Platform To Support Index Data, Performance Measurement
Russell/Mellon has become the second subsidiary of Mellon Financial Corp. to purchase data management product Cadis from Citadel Associates. Cadis is being used across the range of index data services and performance measurement solutions at Russell/Mellon. The data management product is helping to streamline data operations internally, and will also become a component of Russell/Mellon’s…
It’s MiFID Mania
We first got wind of the MiFID directive at an industry roundtable discussion about reference data a little while back. There, our old friend Colin Wright of the Information Providers User Group (IPUG) innocuously raised the question of transparency for internally matched trades. The look of puzzlement on the faces of the industry practitioners at…
Vanguard Group Opts for BMC For Data Management
Mutual fund company Vanguard Group has implemented an enterprise data management platform using BMC Software’s Log Master for DB2. The platform streamlines the firm’s complex data environment into a single repository. The data relates to shareholder accounts, and was previously stored in multiple database, files, tapes and platforms. Vanguard has around $800 billion under management…
Shipperlee Rejoins S&P as European MD for Risk Solutions
Stuart Shipperlee is rejoining Standard & Poor’s as its new European managing director for the Risk Solutions division, based in London. Shipperlee, who will report to Gary Kearns, global leader for Credit Risk Services, was previously managing director of European operations for U.S. insurance ratings agency AM Best, and before that spent 10 years at…
Standards: Are They Worth the Effort?
Much of the industry talk about reference data focuses on standards, and much work has been done to develop and propagate them. But is this work worth the effort? If the industry does not adopt the standards, they are, obviously, of no use. ISO 15022 for corporate actions is a current example of a standard…
CSFB Latest Firm to Use DTCC’s Corporate Actions Service
Credit Suisse First Boston has become the sixth company to sign up for the Global Corporate Actions Validation Service from the Depository Trust and Clearing Corporation (DTCC). Joseph Porcello, director of asset servicing for CSFB in the U.S., says, “By signing on to GCA Validation, we’re looking to eliminate the time-consuming, manual process of reconciling…
Bear Stearns to Implement GemStone For Risk Data Latency
Bear Stearns plans to implement GemFire Enterprise from data infrastructure company GemStone to manage in-memory data across its enterprise applications, initially focused on Global Clearing and Settlement Risk Analytics as well as Program Trading. Bear Stearns realised its daily batch-oriented risk reporting was coming under strain as trading volumes increased and regulatory requirements became more…