A-Team Insight Blogs The latest content from across the platform
Data Repositories are Focus of Ongoing European and US Regulatory Discussions
Recent letters between Michel Barnier, the European Commission’s internal market and services commissioner, and US Treasury secretary Timothy Geithner indicate that data sharing is very much at the top of the regulatory agenda at the moment, especially with regards to derivatives. The issue of trade data repositories is at the heart of the debate, as…
Swift’s Mansur and DTCC’s Hands Champion Global Use of XBRL for Corporate Actions, Pilot to be Launched by Year End
What is good for the US market, could also be good for the rest of the world, contended Max Mansur, global market manager for Asset Servicing at Swift, and David Hands, director of asset services product management at DTCC Solutions, when speaking about the benefits of XBRL for the corporate actions market. The work going…
UK FSA Slaps Commerzbank with £595,000 Fine for Transaction Reporting Data Failures
The UK Financial Services Authority (FSA) has fined Commerzbank £595,000 for transaction reporting failures stemming from underlying data errors, including the use of multiple internal codes for the same counterparties. The German bank’s fine may be a fraction of the £2.45 million imposed on Barclays last year, but it indicates that the regulator is continuing…
Brace Co-author of the BGM Model Joins Numerix Quantitative Advisory Board
Numerix, a provider of cross-asset analytics for derivatives valuations and risk management, today announced that Alan Brace, co-developer of the BGM model, has joined the Numerix quantitative advisory board. Brace is a co-author of the Brace-Gatarek-Musiela (BGM) model, also known as the Libor market model (LMM), which was proposed in a paper “The market model…
Clearstream’s Mermigidis Calls for Drop Dead Deadline for Move to ISO 20022 for Corporate Actions
The benefits of moving to ISO 20022 appear to be clearly understood in the market by most, but many firms are now keen for Swift to provide a clear timeline for its adoption, including a drop dead deadline for the switchover from ISO 15022 formatted messages for corporate actions. Clearstream Banking’s senior vice president in…
US Federal Home Loan Banks Live on Principia Structured Finance Platform for 15 Years
Principia Partners, a solution provider for the management and administration of structured finance investments, today announced that the US Federal Home Loan Banks (FHLBanks) of Atlanta, Boston, Cincinnati, Des Moines and New York have now been successfully using the Principia Structured Finance Platform (Principia SFP) for 15 years. The five regional home loan banks, which…
Asia Keeping a Close Eye on Europe’s Corporate Actions Harmonisation Work, Says Standard Chartered’s Bone
The progress that is being made in Europe with regards to harmonising corporate actions processing is being closely monitored by the markets in the Asian region, according to Nicholas Bone, director of transaction banking sales for investors and intermediaries at Standard Chartered. A lot of progress has been made in countries such as Korea, Taiwan…
Issuers are at the Root of the Corporate Actions Standardisation Problem, Agree Banking Panellists
Banking participants at last week’s CorpActions 2010 conference in London agreed that regulations are needed in order to compel issuers to provide corporate actions data in the right format at the start of the process. Justin Chapman, global head of strategic implementation for Asset Servicing at Northern Trust, contended that mandatory data tagging of corporate…
Progress Being Made on Defining T2S’s Potential Interaction with Corporate Actions, Says BNY Mellon’s Bodart
The European Central Bank’s (ECB) Target2-Securities (T2S) settlement system may have been delayed for an indefinite period (likely from the original date of 2013 to 2015), but important discussions are continuing on the possible interaction of the area of corporate actions with the securities settlement system. Paul Bodart, executive vice president and head of EMEA…
Bank Bukopin Selects FRSGlobal’s IFRS solution
FRSGlobal today announced that Bank Bukopin has selected FRSGlobal’s International Financial Reporting Standards (IFRS) solution. The deal was signed in collaboration with associate partner PT Nexia Indonesia Advisory Services (PTNIAS) – a partnership that was formed as part of FRSGlobal’s commitment to the Indonesian market. Tri Joko Prihanto, finance and planning director of Bank Bukopin,…