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Schapiro Confirms SEC is Still on Course to Meet 2011 Deadline for Decision on IFRS
Earlier this year, Securities and Exchange Commission (SEC) chairman Mary Schapiro indicated that the regulator would be kicking off research efforts into how best to move the US towards adopting International Financial Reporting Standards (IFRS). This week, Schapiro has confirmed that despite the revised standards development timetable announced by the Financial Accounting Standards Board (FASB)…
SunGard Completes Year Long Integration of EDI’s Corporate Actions Data into MarketMap
Vendor giant SunGard has finally completed a year long integration project focused on expanding the content of its market data solution MarketMap to cover corporate actions data from Exchange Data International (EDI). Robert Jeanbart, global head of market data and information services for SunGard’s global trading business, explains to Reference Data Review that the integration was…
Accenture’s Five Steps to Data Analytics Heaven
Given the regulatory attention being directed at the industry’s dealings with its data fundamentals (see the host of recent reference data related fines and proposals for the establishment of data utilities for proof), it is no surprise that consultants have been quick to highlight other industries from which the financial services industry can learn a…
DTCC Posts Data Industry Will Use to Increase Clearing of Credit Derivatives
The Depository Trust & Clearing Corporation (DTCC) announced today that it will post this evening on its website, www.dtcc.com, data compiled from CDS trades registered in DTCC’s Warehouse Trust Company LLC at the request of market participants who will use it to assess which of the various single reference entities might have sufficient liquidity to…
Primevest Adopts Broadridge’s Portfolio Accounting and Performance Reporting Service
Broadridge Financial Solutions today announced that Primevest Financial Services, a leader among broker-dealers dedicated to serving financial institutions, has implemented Broadridge’s Aspire Portfolio Accounting and Performance Reporting service. Primevest can now use the integrated service both to comply with new IRS requirements and to provide sophisticated performance reporting to their more than 400,000 accounts. “As…
Sieracki and Creswell to Head Sales for Netik
Netik LLC, a global leading provider of financial data management and reporting services and products, announced today two significant management appointments in the Sales Department. Frank Sieracki has been appointed as Managing Director of North American Sales and Ed Creswell has moved internally into the position of Head of European Sales. Sieracki and Creswell will…
Hong Kong’s SFC Fines Two Merrill Lynch Subsidiaries for Risk Management and Valuations Oversight Failings
Hong Kong’s Securities and Futures Commission (SFC) has fined two Merrill Lynch Asian subsidiaries a total of HK$3,500,000 (US$450,000) for systems and controls failings in their risk management and monitoring systems that led to the mis-marking of activities in a derivatives trading book. The SFC’s investigation found that during the period from December 2007 to…
BNY Mellon’s Ingle Discusses the Data Challenges Inherent in the Derivatives Market Reform Process
The regulatory community is hell bent on increasing transparency into the derivatives market by any means necessary, including forcing OTC instruments to be cleared via central counterparties (CCPs) and requiring firms to report more data to new trade repositories. Reference Data Review speaks to Steve Ingle, derivatives product manager at BNY Mellon Asset Servicing, to find out…
CESR’s Ratings Agency Consultation Paper Sets Out CRA Data Requirements
Following more than a year of discussions about how to best tackle the underlying issues with credit ratings in the post-crisis environment, the Committee of European Securities Regulators (CESR) has produced a new consultation paper detailing the data requirements for these ratings agencies under the new regime of heavier scrutiny. Industry participants have until the…
Interactive Data Appoints Jeffrey Torchon ETFs Global Market Manager
Interactive Data Corporation, a leading provider of financial market data, analytics and related solutions, today announced that it has named Jeffrey L. Torchon to the newly created position of exchange traded funds (ETFs) global market manager. Torchon, age 49, is responsible for providing global leadership related to product strategy, innovation, sales development and operational efficiencies…