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Reuters DataScope Select Adds Complinet Screening Capability
Complinet has signed a global contract with Reuters that will allow Reuters DataScope Select users to screen selected entities against international sanctions lists, watch lists and other information that can help them comply with counterparty and Know Your Customer regulations. The deal follows the recent tie-in between the two companies that established Complinet as Reuters’…
Swift Picks Avox for BIC1 Cleanup; First Step in Broader BIC/CIVIC Plan
Swift has signed a deal with Deutsche Boerse-owned counterparty data specialist Avox to help it with the process of cleansing its BIC1 code database of so-called ‘unconnected BICs’. The agreement appears to mark the first step in a broad Swift initiative to extend the coverage of its BIC directory and creating BIC-like codes to identify…
Swift AGM Approves New Regulators Category
Swift has received unanimous approval at its AGM for the addition of Financial Market Regulators as a new participant category on the network. Admitting regulators to Swift will make it easier for Swift members and users to meet regulatory transaction reporting obligations, while facilitating the development of global regulatory reporting solutions, Swift says. The approval…
Cicada Boosts Integration With Cicada Profiler 1.4
Cicada has revealed the next version upgrade of its Cicada Profiler software, a packaged solution for anti-money laundering and Know Your Customer (KYC) data management requirements. The software is designed to bring improved collaboration, control and centralisation to customer identification and risk-based due diligence processes. The release focuses on increased integration with third-party data used…
… While Bear, Goldman and Lehman Sign Up to Markit OTC Affirmation Service
Markit has launched an electronic affirmation service within Markit Trade Processing (MTP). The first dealers to sign up are Bear Stearns, Goldman Sachs and Lehman Brothers. The new service, which builds on Markit’s existing affirmation model, provides trade date affirmation and trade confirmation through industry utilities such as the Depository Trust & Clearing Corporation (DTCC),…
NNAs Set to Begin Testing IBEI Files
At the end of June, work will kick off between National Numbering Agencies (NNAs) including Telekurs, the London Stock Exchange and WM Datenservice to test the interoperability of international business entity identifier (IBEI) files. Though work has not been completed on the ISO standard IBEI, some NNAs are issuing their “own” IBEIs, to meet the…
Central Instrument Model, Compliance with ISO 19312 Key in MDDL 3.0, But Does the Market Really Want it?
Version 3.0 of MDDL (Market Data Definition Language) is now available, but the jury’s out on whether the latest iteration of the XML dialect for securities market data will be greeted with any greater degree of enthusiasm by the market than its predecessors. GoldenSource – historically a strong advocate of the standard – has not…
Bimcor Leverages Eagle for Daily Performance Results, Building on Centralised Data Hub
Canadian pension fund manager Bimcor has experienced improved data management and data analysis capabilities after streamlining processes using data management and performance solutions from Eagle Investment Systems. The firm has now completed a project to implement a range of Eagle technology which began in 2004. Bimcor is a wholly owned subsidiary of BCE Inc and…
Firms Will Spend $1.67 Billion on EDM in 2007, Aite Finds, But Most Don’t Plan to Hire Chief Data Officers
Enterprise data management (EDM) initiatives will account for $1.67 billion of spending by financial services firms in 2007, driven in the US by securities reference data challenges and data silos, and in Europe by the requirement to control client and counterparty data to comply with regulation such as MiFID and Basel II. So says analyst…
Europe Arab Bank Signs with CounterpartyLink for Entity Data
CounterpartyLink has announced a three year, enterprise-wide agreement to provide legal entity data to Europe Arab Bank (EAB) in London. EAB is a new wholly-owned subsidiary of Arab Bank, providing a niche service to European companies and individuals wishing to transact with the MENA region. Philip Hindley, head of compliance at EAB, says the bank…