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US SEC Passes Proxy Voting Reforms, New Data Requirements on Their Way in 60 Days
The US Securities and Exchange Commission (SEC) has passed a reform this week that issues additional rights to “long term” shareholders, who own or have owned continually for three years and have at least 3% of the company’s voting stock, to be able to nominate candidates to the boards of the companies they own. As…
Two Implementation Phases Down, Four More to go at ABN Amro, Says PaceMetrics’ Giblin
After six months of implementation time, EDM vendor PaceMetrics has completed the first two phases of ABN Amro’s data management project, which it began as a follow up to the acquisition of a portion of its business by a consortium last year. According to Gerry Giblin, CEO of PaceMetrics, the firms started talking back in…
SocGen Falls Foul of the UK FSA for Transaction Reporting Failures, Data Related Errors Cost it £1.58m
The London branch of French bank Société Générale has been fined £1.575 million by the UK Financial Services Authority (FSA) for data related failures and failed submission of 80% of its transaction reports over a period of more than two years. This marks the sixth case of a fine being handed out for such failures…
Pricing Partners Successfully Completed the Platform Test for ISV Solutions to Become Microsoft Certified Partner
Pricing Partners announced today that Price-it successfully completed the Microsoft ISV (independent software vendor) Solutions Platform Test. The platform test for ISV solutions is the breadth test that allows software vendors to measure their solution’s technical capabilities against a specific set of Microsoft technical quality standards. Pricing Partners adopts the latest Microsoft .NET technologies for…
DTCC and Chilean Depository Sign Agreement to Collaborate
The Depósito Central de Valores (DCV) of Chile and The Depository Trust & Clearing Corporation (DTCC) of the US announced today they have signed an agreement that recognises and strengthens their relationship and will serve as a basis for future collaboration. The objective of this cooperative undertaking, which will leverage the technology and expertise of…
Kroll Ontrack Launches the Next Generation of Document Review with the Introduction of Intelligent Prioritisation
Kroll Ontrack, a provider of information management, legal technologies, and data recovery products and services, today announced the launch of Intelligent Prioritisation within Ontrack Inview version 6.2. This new feature is a significant step towards adding innovative Intelligent Review functionality to its industry-leading document review tool. It empowers legal teams to conduct review in a…
Goldman Sachs Selects Lucsan Capital to Assist with Data Migration Projects
Lucsan Capital, an innovative technology, consulting services and advisory group specialising in system implementation and data migration for the financial services sector, is pleased to announce that they have been selected by Goldman Sachs & Partners Australia Pty Ltd (Goldman Sachs) to assist with two major data migration projects. Lucsan Capital will provide a range…
SIX Group’s Information Biz is Down 3% Revenue on Previous Year’s First Half Figures
The revenue for the first half of this year for SIX Group’s financial information business, SIX Telekurs, is down 3% on the previous year’s figure for the same period. According to the vendor, the decline from CHF205.3 million in 2009 to CHF199.1 million this year was largely attributable to the negative effect of the euro…
RBS is in the Final Stages of Consolidating Legal Entity Database Across Wholesale Business, Says Davies
Royal Bank of Scotland (RBS) Group may have faced a substantial fine this month from the UK Financial Services Authority (FSA) with regards to failures related to its anti-money laundering (AML) checking process, but a lot of work has been going on in the background at the firm in order to get its customer database…
Numerix Continues Expansion Across Asia Pacific; Opens South Korean Office
Numerix, a provider of cross asset analytics for derivatives valuations and risk management has opened a new regional office in Seoul, South Korea, becoming the first derivatives analytics company to provide local sales and quantitative support in the South Korean region. The new Seoul office symbolises the growth and importance of the derivatives markets in…