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Lack of Consistent Sanctions and Risk Customer Screening Standards Exposes Firms to Heightened Compliance Risk
Many large financial institutions are failing to implement consistent policies and procedures for sanctions, Politically Exposed Persons (PEP) and customer risk screening due to inconsistent, legacy-based systems, according to compliance screening and data management specialists, Datanomic. Fragmented and inconsistent legacy platforms with different criteria and capabilities deployed across multiple departments and/or countries are resulting in…
Information Mosaic Poaches TCS’ Singh to Spearhead New Indian Operations
In another instance of what seems to be a recent spate of corporate actions vendor musical chairs, Information Mosaic has poached Tata Consultancy Services’ (TCS) Manmohan Singh to help it establish a new office in India. Singh brings with him his management team in order to establish a new development facility for the vendor in…
QuIC Financial Technologies to Host Series of Credit Valuation Adjustment Seminars in Asia Pacific
QuIC Financial Technologies, a global solutions provider of risk management, pricing and financial analytics, today announced that following the overwhelming success and interest in the company’s CVA Solution in Europe and North America, QuIC aims to build on its global CVA leadership with a series of CVA seminars in the Asia Pacific region. Responding to…
3L3 Committees Publish New Paper on Supervisory Practices for Money Laundering Directive
The three European level three (3L3) committees, the Committee of European Securities Regulators (CESR), the Committee of European Banking Supervisors (CEBS) and the Committee of European Insurance and Occupational Pension Supervisors (CEIOPS), have this week turned their attention to the area of anti-money laundering (AML) with the publication of a new report. The 3L3’s Anti-Money…
Is Cloud Computing an Answer to Risk and Reference Data Storage?
This week’s FS Club debate on cloud computing suggested that despite all the confusion around the exact definition of a cloud, what it does represent is potential for the future in terms of data storage. Nick Davies, chief technology officer for Lombard Risk Management, suggested that a private cloud could be used for purposes such…
Barr Jumps Ship from Thomson Reuters and Lands at Investment Company Bridgewater Associates
Almost a year after he changed roles at Thomson Reuters and moved to Switzerland, Gary Barr has left the vendor and joined investment company Bridgewater Associates in a research data role. During most of his time at Thomson Reuters Barr was heavily involved in the data management space in the Enterprise division but at the…
Fitch Solutions Launches Custom Data Service for Credit Markets
Managing data from multiple sources is proving to be troublesome for most firms and even more so in a stressed economy, according to Fitch Solutions, a division of the Fitch Group. In response, Fitch Solutions has launched an integrated data service (IDS) to meet growing user demand for a single, customisable feed platform covering data…
NYSE Euronext and DTCC Finalise Joint Venture Agreement to Create New York Portfolio Clearing
NYSE Euronext (NYX) and the Depository Trust & Clearing Corporation (DTCC) today announced they have finalised their formal agreement to create their innovative new joint venture, New York Portfolio Clearing (NYPC). A draft application for NYPC to be granted status as a Derivative Clearing Organisation with the Commodity Futures Trading Commission (CFTC) and draft amendments…
DTCC Announces Plans to Relocate a Significant Portion of Northeast Staff to New Jersey
The Depository Trust & Clearing Corporation (DTCC) today announced plans to relocate a significant portion of the DTCC staff based in the Northeast US to a new location in New Jersey when its current lease expires at the end of 2012. Under the plan, DTCC will relocate about 1,600 staff members to Newport Office Centre…
EuroCCP Launches Clearing and Settlement for Depositary Receipts
European Central Counterparty Limited (EuroCCP) today announced that on 16 October it will begin clearing and settling 120 of the most heavily traded listed depositary receipts. With its new central counterparty service offering, EuroCCP extends to depositary receipts transactions the efficiency, cost saving and counterparty risk protection benefits it already provides to clients’ equities transactions….