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SEC Confirms US Companies Required to File Financial Reports Using XBRL in 2009
Originally appeared in MiFID Monitor The US Securities and Exchange Commission (SEC) has confirmed that from mid-next year large public corporations and mutual fund companies will be required to submit their financial reports in extensible business reporting language (XBRL). The move, which was initially proposed in May, is aimed at making it easier for investors…
Euroclear Receives Approval for Creation of New Set of ISO 20022 Messages
Euroclear has received approval from the ISO 20022 registration bodies for the creation of a new set of ISO 20022 messages to be used throughout the global capital markets. According to the firm, it is the first set of approved ISO 20022 messages developed by an organisation operating in the securities industry other than Swift….
Financial Crisis Has Focused Institutions on Data Quality Initiatives, Says Information Difference
The recent financial crisis will not deter financial institutions from investing in master data management (MDM) and data quality systems, according to a recent survey conducted by consulting firm the Information Difference and sponsored by Trillium Software. The findings of the survey suggest that these initiatives will be of mounting importance to businesses in the…
What is Your Latency IQ?
Capital markets firms have been implementing a number of different strategies for reducing latency – from increasing network bandwidth, to implementing low latency applications, to collocation – giving rise to the question: What’s next? To get the best trade, firms realize their need for visibility into the entire chain of trade execution events in real…
Maintrust Selects Gain Data Management for Delivery of SIX Telekurs VDF Data
Nomura’s German asset management subsidiary, Maintrust, has gone live on Aim Software’s Gain Data Management platform in order to facilitate the automated delivery of static data from SIX Telekurs Valordata Feed (VDF) into SunGard’s V3. Maintrust indicates it decided to upgrade its data management infrastructure as result of rising compliance requirements and an increase in…
FTSE Group Goes Live on XSP v5 Corporate Actions Platform in New York
Following its implementation in London earlier this year, FTSE Group has gone live with the XSP v5 Corporate Actions platform in New York. The implementation is part of FTSE’s initiative to achieve an automated STP environment for the management of corporate action events applied to FTSE indices, explains Chris Broad, chief operating officer at FTSE…
FASB and IASB Begin Review of Mark to Market Principles
The Financial Accounting Standards Board (FASB) has indicated it is beginning a review of mark to market accounting rules in cooperation with the International Accounting Standards Board (IASB). The board is said to be considering extending current mark to market principles to a much broader range of securities than they currently cover by taking a…
Reval Adds Trotta to Client Services Role and Brimfield to Biz Development
Reval, a provider of financial risk management solutions and services, has appointed Marzio Trotta as senior vice president of client services and Justin Brimfield as senior vice president of business development. The vendor, which provides also provides valuation services, indicates that the appointments are part of its drive to expand the scope of its client…
‘Tis the Season to be Wary
It would be a vast understatement to say it has been a challenging year; for many 2008 has been wrought with redundancies, pay cuts and a significant increase in workload. ‘More for less’ seems to have been adopted out of necessity as the latest industry catchphrase. However, it has not all been doom and gloom:…
Capgemini Appoints Ezzat as CEO of its Financial Services Global Business Unit
Originally appeared in MiFID Monitor Capgemini has appointed the current chief operating officer of its Financial Services Global Business Unit, Aiman Ezzat, as CEO of the unit. Current CEO Raymond Spencer will assume the role of non-executive chairman of the business unit. Ezzat joined Gemini Consulting, Capgemini’s consulting arm, in 1991 where he was responsible…