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SEC and FASB Work Towards Mark to Market Guidelines
Despite the ongoing controversy surrounding the US mark to market accounting rules over recent months, legislators have thus far refused to give up on them. Last week, the chairman of the US Senate Banking Committee, Christopher Dodd, confirmed that the rules would be modified but the underlying standards would remain in place. The rules have…
XSP Promotes Fullam to Senior Director of Business Strategy, Relocates Him to NYC
Corporate actions software vendor XSP has promoted its current principal consultant Paul Fullam to the position of senior director of business strategy and relocated him from its London office to its New York office. In his new role, Fullam will assume responsibility for relationships with key industry associations and organisations such as ISITC and Swift,…
Accuity Completes Acquisition of CB.Net
Accuity has completed the acquisition of payments reference data vendor CB.net as part of its efforts to bolster its customer base and extend its offering. Hugh Jones, president of payment routing data vendor Accuity, explains that CB.Net’s existing relationships with the European Payments Council (EPC) and the Euro Banking Association (EBA) were of particular appeal….
NYSE Euronext and Eurex Indicate Concern Over Derivatives Regulation, CDS CCP Debate Continues
Two of the contenders in the credit default swap (CDS) clearing counterparty (CCP) race, NYSE Euronext and Eurex, have expressed their concern about a draft bill in the US aimed at expanding derivatives regulation. The firms are worried that the regulation, which would require mandatory clearing of most OTC products, would have the unintended consequence…
EDI and S&P Partner to Launch Financial Corporate Action Data Portal Company
Exchange Data International (EDI) and Standard & Poor’s have banded together to launch a new company aimed at providing financial institutions with corporate action and dividend data for companies listed globally. The new company, which has been dubbed FinDataPortal (FDP), launched in November last year and is aimed at providing low cost access to this…
Asset Control Upgrades Tapmaster, Adds Graphical Visualisation and Exception Handling
Following the expansion of its instrument coverage last year, Asset Control has yet again upgraded its Tapmaster data management software, but this time with bells and whistles centred on improving its user friendliness and functionality. Version 4.0 of the solution therefore includes enhanced validation, graphical visualisation and exception handling, says the vendor. Asset Control has…
Counterparty Risk Infrastructure in the Current Market
By Neil McGovern, product strategy director at Sybase History may judge the failure of Lehman Brothers as the event that caused the most changes in financial services institutions in the credit crunch of 2007 to 2009. The failure of an institution that was never meant to fail, especially one such as Lehman, has changed attitudes…
Aim Software and SFB Services4banks Partner for Reference Data Service in Switzerland
Aim Software has entered into a strategic partnership with Swiss?based application service provider (ASP) and outsourcing vendor SFB services4banks to provide the latter’s clients with a central reference data management platform based on Aim Software’s Gain Data Management solution. The two vendors are therefore working together to provide Swiss clients using SunGard’s Ambit Apsys with…
Data Practices Have to Change to Support Risk Management, Says A-Team and GoldenSource
Given the current financial climate, a large proportion of the financial services industry is engaged in changing its approach to data management in order to better support risk management, according to recently published research by A-Team Group. The research, which was commissioned by EDM vendor GoldenSource, indicates that there is a general feeling within the…
NYSE Technologies to Facilitate Low-Latency Trading
Moving forward on a strategic vision championed by CEO Duncan Niederauer, NYSE Euronext has created NYSE Technologies, a new company with a remit to commercialise the exchange group’s technical solutions, intellectual property and operational capabilities and sell them to other exchanges, liquidity venues and market participants. The company is headed by industry veteran Stanley Young,…