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Netik Addresses Operational Risk and Efficiency for Buy Side Firms
As businesses recover from the financial crisis the necessity for increased transparency, greater risk management and improved reporting saw increased interest in data and data management. Yet 2009 saw operations, IT and data management budgets severely cut with more than one client’s budget being restricted by 60%. Netik recognises the importance of higher quality data…
Bloomberg Faces Lobbying from Industry Group and Customers Over SPA Contracts and BSYM Data
Data giant Bloomberg is seemingly facing a degree of pressure from the industry with regards to both its planned service provider agreement (SPA) contracts for fund administration clients and the data provided via its Bloomberg Open Symbology (BSYM) initiative. Paris-based data association Commission des Services et Systèmes d’Informations destinés aux Opérateurs de Marchés (Cossiom) has…
CEBS’ Carosio Discusses 2010 Focus on Risk and EBA’s Role in Regulatory Data Infrastructure
The Committee of European Banking Supervisors (CEBS) was originally established as a forum to lead the charge towards a new Basel framework but in recent years it has become increasingly focused on the practical realities of risk management. Giovanni Carosio, deputy director general of the Bank of Italy who took over the reins as chairman…
SEC’s Proposed Revisions to Money Market NAV Reporting Could Pose Significant Data Challenge
This week the US Securities and Exchange Commission (SEC) has added another set of proposals to its regulatory to do list, this time in the form of new reporting requirements for money market funds. The rules, should they be passed, would require these funds to regularly report their net asset value (NAV) to the regulator,…
Markit Confirms Details of General Atlantic Acquisition of 7.5% Stake
US-based private equity firm General Atlantic has acquired a 7.5% stake in pricing and valuations supplier Markit, which is currently majority owned by a consortium of sell side and buy side firms, in return for a US$250 million investment in the company. A spokesperson from Markit confirms the details of the deal, which values the…
S&P’s Eccleston Discusses Decision Behind Formation of New Valuation & Risk Strategies Group
The recent restructuring of Standard & Poor’s Fixed Income Risk Management Services (FIRMS) division to combine its securities evaluations, valuations services and market research teams into one group is all part of the vendor’s strategy to provide a more joined up approach to the market, explains Lou Eccleston, FIRMS’ executive managing director, to Reference Data Review….
Omgeo Continues Momentum in Japan
Omgeo today announced significant milestones achieved in Japan in terms of facilitating operational efficiency, reducing costs and increasing risk mitigation for clients in the region. Further demonstrating the firm’s commitment to Japan, Omgeo has also re-launched the Japanese-language version of its website. Omgeo wrapped up 2009 with significant growth in Japan, with 27% growth in…
HSBC’s EDM Head Hinds Departs for Pastures New
HSBC’s data management champion and regular FIMA speaker Sally Hinds is leaving the bank this week after more than four years as global head of EDM of HSBC Global Banking & Markets. Although she has not yet indicated where she will resurface, it is likely she will continue her career in the data management world….
Numerix to Provide Pricing Models for Thomson Reuters Risk Management Software Suite
Numerix, a provider of cross-asset analytics for the structuring, valuation and risk analysis of derivatives and structured products, today announced Thomson Reuters will extend Numerix’s vanilla – exotics pricing solutions and risk analytics in Thomson Reuters Kondor+ Suite and TopOffice solutions. Financial service firms using Thomson Reuters Kondor + Suite to build and trade structured…
Stop Press: General Atlantic Buys ‘Significant’ Stake in Bank-Owned Markit
Greenwich, Conn.-based private equity firm General Atlantic has acquired a “significant” minority stake in bank-owned pricing and valuations supplier Markit in return for a “substantial equity investment” in the company. While the size of the stake wasn’t disclosed, it’s significant enough to warrant a board seat for General Atlantic CEO Bill Ford. The General Atlantic…