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Market Data Capacity – 2009 Review, 2010 Outlook
From the safe distance of February 2010, we can look back at 2009, rake over the coals and think carefully about what lies ahead in 2010. Before I start my survey, I must point out that I am indebted to the Financial Information Forum and its membership, especially the exchanges, for providing a vast array…
BNY Mellon’s Richmond Talks up Recent Investment in Valuations Capabilities and Importance of Data Centralisation
BNY Mellon Asset Servicing has invested in its client and regulatory reporting systems as a result of valuation and regulatory changes such as FAS 157 and FAS 132R-1, explains Chris Richmond, managing director of global product accounting for the fund administrator, to Reference Data Review. This has involved a significant investment in automating the upload of…
CME Group Opts for Fitch Solutions and CMA Pricing Solutions for Clearing Operations
As part of its endeavour to establish itself as a clearing counterparty (CCP) in the OTC derivatives market, CME Group has this month selected two pricing solutions to support its CCP’s credit default swap (CDS) pricing and intraday risk management services: CMA’s DataVision and Fitch Solutions’ CDS Pricing Service. Anna Mazzone, vice president of product…
FIRMS’ Valuation & Risk Strategies Group Launches Valuations Transparency Initiative
Following the restructuring of the Fixed Income Risk Management Services (FIRMS) unit to combine its securities evaluations, valuations services and market research teams into one group last month, the Standard & Poor’s owned analytics and research group has launched a new transparency initiative for fixed income valuations. The vendor is now offering the assumptions data…
Fair Value Has Been Defined (Sort of), But What is Going on with the Harmonisation Agenda?
Last month, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) got together to hammer out a final definition for the term ‘fair value’. They agreed that it means an “exit price” in most markets, but in illiquid markets or those that are less active this involves the consideration of a…
ISDA Augments Documentation Committee Leadership, Adds Advisory Board with Buy Side Expertise
The International Swaps and Derivatives Association (ISDA) today announced that it is broadening the leadership of the ISDA Documentation Committee by forming an advisory board that will encompass buy and sell side institutions to better represent global documentation needs across constituencies. The board will provide strategic guidance and leadership to the Documentation Committee’s work on…
Sunrise on Oracle
Oracle last week finally completed its $7.4 billion acquisition of Sun Microsystems, and the company wasted no time in setting out its road map for how its software and Sun’s hardware (and some software) are going to be packaged together so that the sum is greater than the two parts. A surprise – kinda –…
UK FSA Confirms will Require Firms to Publish Consolidated Complaints Data
As part of its drive to compel financial services firms to provide more transparency into their data, the Financial Services Authority (FSA) has confirmed this week that it will require UK firms to publish information on how they handle complaints. According to the regulator, this will help people see how firms are performing in this…
Moody’s Faces Revenue Decline in Data and Analytics Biz, But Uptick in Risk Software for Q4
Although ratings agency and data and risk management solution provider Moody’s experienced a positive end to the year overall in terms of revenues, with a fourth quarter revenue increase of 16.9% on the previous year’s figures, the vendor’s research, data and analytics business was down for the quarter by 1%. The risk software segment, however,…
Many US Firms Getting Ready Early for XBRL and Considering its Use in the Wider Data Context, Says XBRL US Survey
Many US firms are taking action to get ready early for the introduction of XBRL tags for financial statements later this year, according to a recent survey by the American Institute of Certified Public Accountants (AICPA) and standards body XBRL US. A total of 73% of the 215 respondents had already begun their testing for…