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Fitch Solutions Offers Liquidity Scores for Credit Derivative Assets
Fitch Solutions has created new liquidity scores and percentile rankings for widely traded credit derivative assets aimed at helping banks to identify their exposure to the most liquid and least liquid assets, and strengthen their liquidity risk management procedures. Thomas Aubrey, managing director of Fitch Solutions, explains that the data has been added to provide…
XBRL Announces Support for SEC’s IFRS Roadmap for US Public Companies
Originally appeared in MiFID Monitor XBRL International has publicly announced its support for the US Securities and Exchange Commission’s (SEC) proposed roadmap for the introduction of International Financial Reporting Standards (IFRS) for US companies, which was published on 14 November. The roadmap sets forth several milestones with a view to the introduction of IFRS, as…
SunGard Integrates XSP’s Corporate Actions Software with its Phase3 Solution in an ASP Environment
SunGard has integrated XSP’s global corporate actions software capabilities with its Phase3 multi-asset, multi-currency securities processing solution in a SunGard hosted application service provider (ASP) environment. Tony Scianna, executive vice president of SunGard’s brokerage and clearance business, explains that the integration was in response to requests from the vendors’ mutual client base. “Mutual XSP and…
SuperDerivatives Adds Electricity Derivatives Valuations to Commodities Offering
SuperDerivatives has added electricity valuations to its energy and commodities SD-CM platform. The vendor has extended its offering to cover real time accurate pricing of options on electricity prices, risk management, mark to market valuations and pre trade analysis tools for deregulated European markets. Electricity markets exhibit a much higher degree of volatility than other…
Hedge Fund Administrators Should Provide Greater Transparency for Derivatives Valuations, Says OTC Val
Hedge fund administrators need to modify their current business and operational processes and to adopt new practices designed to provide greater insight and transparency into the value of derivatives, according to a recent whitepaper by OTC Valuations (OTC Val). The whitepaper, entitled Independent Pricing For Complex Derivatives and Illiquid, Hard-to-Value, Securities: Trends and Current Practices…
OTC Val Expands to FAS 157 Non-performance Risk for Valuations
OTC Valuations has expanded its valuation service to include non-performance risk under FAS 157, which refers to the risk that the obligation will not be fulfilled. Bob Sangha, managing director of OTC Val, explains that the expansion of its valuations service is in reaction to client requests and requirements. Sangha comments: “Expanding our services once…
GlobeOp Names Glickman Global Head of Risk Services
Originally appeared in MiFID Monitor GlobeOp Financial Services has appointed risk management veteran Tony Glickman as global head of risk services and member of its operating committee. He will report to Vernon Barback, GlobeOp president and chief operating officer, and will be based in the company’s New York City office. According to Barback, Glickman was…
Euroclear Agrees to Buy Xtrakter Off ICMA as Part of Drive to Broaden Trade Matching Service Offering
Originally appeared in MiFID Monitor Euroclear has continued on the acquisition trail this month by signing an agreement with the International Capital Market Association (ICMA) whereby Euroclear will acquire 100% of Xtrakter, the ICMA subsidiary, for an undisclosed cash amount. Ignace Combes, deputy CEO of Euroclear, explains that the acquisition is part of the firm’s…
Yuanta Financial Holdings Selects NumeriX Excel for Valuations and Risk Management
Yuanta Financial Holdings has deployed NumeriX Excel within its risk department to provide analytics and pricing for derivatives and structured products. Via the implementation of the solution, the Taiwan-based firm hopes to more accurately price and calculate mark-to-model prices as well as measure the risk for these products, says Connie Lin, chief risk officer at…
Interactive Data to Acquire Majority of NTT Data Financial for US$20.2m
Interactive Data Corporation has announced its intention to acquire the majority, at 64%, of NTT Data Financial Corporation (NDF) from NTT Data Corporation for 1.9 billion yen, or approximately US$20.2 million, in cash. The two firms have been redistribution partners for more than 14 years but Interactive Data made the decision to have a direct…