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FlexFinance IFRS Live After a Three Month Project Implementation Period
One year ahead of the Central Bank’s schedule, Access Bank, FERNBACH Software’s first Nigerian customer, announced the successful completion of its FlexFinance IFRS implementation. In a record time of less than 3 months, the joint team of Access Bank, KPMG and FERNBACH implemented FlexFinance IFRS. By completing the project, Access Bank has enlisted Nigeria among…
Thomson Reuters Embeds Data Visualization Technology into Quant Trading Platform
Thomson Reuters today announced it has joined forces with Panopticon Software, a provider of visual data analysis solutions, to embed data visualization capabilities into the Thomson Reuters Enterprise Platform for Velocity Analytics. These new capabilities are available both as a managed service within Elektron, the firm’s high performance real-time network and hosting environment, or deployed…
Transatlantic Tension
Speakers from the European Commission at this week’s Association for Financial Markets in Europe (AFME) post-trade conference highlighted the ongoing tension between US and European regulators with regards to the changing global agenda for oversight. Data sharing arrangements may be in place and discussions about data standards may be ongoing across the Atlantic, but what…
Interactive Data’s CMO Ivaliotis Departs for Pastures New
Interactive Data’s chief marketing officer Mary Ivaliotis is the latest exec to depart the data vendor following its post-acquisition management shake up at the start of this year. Last month, president of institutional sales Cort Williams jumped ship to join data vendor rival SIX Telekurs.
Moody’s Acquires a Direct Equity Stake in KIS Pricing, a Leading Korean Bond Pricing Company
Moody’s Corporation announced today that it has acquired a 16% direct equity stake in KIS Pricing, a leading Korean bond pricing company, positioning Moody’s to benefit from continued strong growth in the Korean domestic debt markets. The acquisition adds to Moody’s existing indirect ownership of KIS Pricing through its controlling equity stake in Korea Investors…
IASB and FASB Issue Common Fair Value Measurement and Disclosure Requirements
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today issued new guidance on fair value measurement and disclosure requirements for International Financial Reporting Standards (IFRSs) and US generally accepted accounting principles (GAAP). The guidance, set out in IFRS 13 Fair Value Measurement and an update to Topic 820 in the…
The Race to Zero – Three Rules for Winning
Deutsche Boerse Group, one of the world’s leading financial exchanges, recently developed a new ultra-low-latency trading infrastructure linking Frankfurt to five other key worldwide trading centres. The target for the Frankfurt-London link was 5 milliseconds (0.005 seconds). Pushing the limits of how quickly computers can process instructions is the new battleground in finance. True zero…
Broadridge and Euroclear Complete Agreement to Offer New End-to-End Proxy Voting Service
Broadridge Financial Solutions today announced that it has signed an agreement with Euroclear to jointly strengthen shareholders’ governance rights by making it easier for investors to vote electronically at company general meetings. The agreement follows an earlier memorandum of Understanding between the two organisations signed in October 2010. Under the new agreement, Broadridge and Euroclear…
BNY Mellon Appoints Arthur Certosimo CEO of Global Markets
BNY Mellon, the global leader in investment management and investment services, today announced the appointment of Arthur Certosimo as CEO of Global Markets. Certosimo, who is currently CEO of Alternative, Broker-Dealer and Treasury Services, will succeed Richard Mahoney, who is retiring at the end of June as previously announced. Certosimo will report to Gerald Hassell,…
SEC Seeks Comment to Assist in Study on Assigned Credit Ratings, Examines Utility Model
As part of its broader examination of the impact of credit ratings agencies on the financial markets, the Securities and Exchange Commission (SEC) has published a new request for comment on the feasibility of a system in which a public or private utility or a self-regulatory organisation would assign a nationally recognised statistical rating organisation…