Data Management Insight Blogs The latest content from across the platform
Fame Information Services Joins Migration to Linux
Fame Information Services has become the latest vendor to announce that it has ported its systems to run on the ‘open source’ Linux operating system. Industry analyst Meta Group predicted, in a December 2002 study, that by 2006 or 2007, Linux will run on 45% of new servers. Back in May, Asset Control announced that…
Corporate Actions Survey Shows Increasing Move to Automation
The move towards corporate action automation is gaining momentum as firms come to accept that this is a key area and substantial gains can be made, according to a survey conducted in April and May by CityIQ on behalf of Swift and Smartstream. Over 50% of firms interviewed place greatest reliance on custodians, sub-custodians and…
EDI and Goal Team for Trade Cycle Tax Solution
Reference data provider Exchange Data International has entered into a strategic alliance with Goal Group, which develops systems handling the taxation elements of the securities processing cycle. Goal’s offering, GTRS, automates the process of reclaiming cross-border withholding tax on securities investment income, such as dividends, supported by EDI’s international securities administration data. Custodian banks reclaim…
DTCC Throws Its Weight Behind Corporate Actions Processing
The Depository Trust & Clearing Corporation (DTCC) launch of its Global Corporate Action (GCA) validation service at the beginning of the month will “reinvent the way corporate action announcements are managed” through the elimination of redundant operations and technology. The development of the service could, if widely adopted, spell bad news for some of the…
ISIPS Reflects Increased Industry Focus on Reference Data, A-Team Consulting Partners With Matrix Services.
We at Reference Data Review enjoyed our trip to this year’s ISIPS – the International Securities Industry Practitioners Symposium – event organised by STP Information Services in London. Reflecting the increased industry focus on reference data, the entire first day of the two-day event was given over to this very subject. Judging by the turnout,…
RDUG’s Legal Identity Identifier Proposal in Review Process
The draft definition for a proposed Legal Entity Identifier (LEI) code has this month been passed to Swift as the next stage in its development towards becoming an industry standard. It is also being considered for adoption into the next release of the FIX protocol, and the U.K. Financial Services Authority is considering endorsing it….
Reuters’ Restrictions on RIC Codes Relaxed in Bid for Widespread Standards Adoption
The decision by Reuters to license the use of its proprietary Reuters Instrument Codes (RICs) has drawn cautious welcomes from most involved in the reference data industry. But some question whether the contractual restrictions that Reuters hopes to enforce on the use of the codes will can be reconciled with their general adoption. The vendor,…
Daiwa Builds Pan-European Data System on FTI’s StreetReference
Daiwa Securities SMBC Europe, has selected the StreetReference product from Financial Technologies International (FTI) as the basis for re-engineering its reference data management environment in Europe. The investment bank will use StreetReference to centralise all European data, including client and securities reference data on a multi-lingual, multi-currency platform. In particular, it will build a common…
Soliton Lays Off London Sales Head Jones
Toronto-based software developer Soliton has made the head of its UK sales operation redundant after just over a year in the job. Carl Jones, a former sales manager with Reuters, was hired to run the Soliton in March last year. The departure comes less than two months after the company announced equity financing from Covington…
Xcitek Targets Europe With London Office Opening, Burgess Hire
Corporate actions automation specialist XcitekSolutionsPlus has formally opened a London office to serve as a hub for its European expansion. To support European clients, the firm has hired Nick Burgess as XSP product specialist to help provide pre- and post-sales client service and manage XSP implementations. Burgess brings 15 years of securities processing experience to…