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Significant Number of Companies Interested in Consolidated Standards for IFRS Reporting, Says Deloitte
A “significant” number of US private companies are interested in the introduction of accounting standards based on International Financial Reporting Standards (IFRS), according to a recent online poll by consultancy firm Deloitte & Touche. The poll, which took place during a webcast with around 1,700 finance professionals, indicated that 40% of respondents were considering taking…
Nine Interdealer Brokers Indicate Commitment to European CDS CCP
Following the announcement by the regulatory community that it will be working together to oversee the credit default swap (CDS) central counterparty clearing (CCP) market, the interdealer broker community has also indicated its commitment to the European initiatives. According to an announcement by the International Swaps and Derivatives Association (ISDA), nine of the largest players…
Interactive Data Experienced Strong Growth in Q4 2008, Says Exiting CEO Clark
Despite the downturn in the markets, it seems that Interactive Data had a good end to 2008 in terms of financial results. The data vendor’s fourth quarter results for last year indicate that its revenue was up 6.6% on previous year’s figures to US$194.1 million from US$182.1 million in the fourth quarter of 2007. “Despite…
France to Create Own CDS CCP, Says Banque de France Report
According to a recently leaked Banque de France report, the French central bank is attempting to unite the countries in the EU to set up their own clearing counterparty (CCP) for the credit default swap (CDS) market. It is thought that the proposals are in reaction to the announcement earlier this week by London-based LCH.Clearnet…
Solix Technologies Partners with Oracle to Embed EDMS in Flexcube
EDM vendor Solix Technologies has entered into a global partner agreement with Oracle Financial Services Software, under which Oracle will offer Solix EDMS as embedded functionality in Oracle Flexcube. The combined solution is aimed at automating archive and purge processes by classifying data, configuring and executing archiving and data migration routines, explains Shekhar Dasgupta, president…
DSTi Appoints Laliberte as Managing Director for North America
DST International (DSTi) has appointed strategic consultant Walt Laliberte as managing director for North America. Prior to his appointment, Laliberte ran his own consultancy, Laliberte Associates, which provides a strategic consultancy service to the consulting and software industries. Laliberte has also previously worked for PricewaterhouseCoopers and Accenture. His new appointment will require him to focus…
American Bankers Association Concerned FASB is Ignoring Underlying Issues with Mark to Market
Following the announcement by the Financial Accounting Standards Board (FASB) earlier in the month that it would be revisiting mark to market accounting standards, the American Bankers Association (ABA) has spoken up about some concerns it has about the FASB approach. The association feels that issues underlying the controversial accounting rules are not being taken…
Reference Data Getting its Day in the Sun, Marcus Evans Delegates Told
Reference data management is no longer at the fringes of an organisation in terms of the perception of its strategic importance by senior management, said Sean Taylor, director at Deutsche Wealth Management, to the delegation at Marcus Evans’ recent Reference Data conference on 12 February. Taylor, who was chairing the event, indicated that increased regulatory…
Thomson Reuters and Bloomberg Remain at the Top for Data Provision, Says Burton-Taylor
The market share of the top two data giants, Thomson Reuters and Bloomberg, increased yet further still last year, according to Burton-Taylor International Consulting. Although the spend on data vendor solutions was flat from 2007 to 2008, Thomson Reuters garnered 34% of the market and Bloomberg was a close second at the top of the…
ISITC Working Group Releases Reference Data Best Practices for SSIs
The International Securities Association for Institutional Trade Communication (ISITC) market practice group on reference data has released a set of new market practices, which it says will be up for discussion at its next industry forum in March. The focus of the new recommendations is on custodian and broker standing settlement instructions (SSI) data and…