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SEC’s Cox Calls for Congress to Regulate CDS Market, Continues Debate with CFTC About Jurisdiction
Originally appeared in MiFID Monitor Securities and Exchange Commission (SEC) chairman Christopher Cox has repeatedly urged the US Congress to pass legislation concerning the oversight of the credit default swap (CDS) market. Cox again made a plea to the US government last week to provide regulation of the sector as a matter of urgency. However,…
ICE and Clearing Corporation Provide Details of CDS Clearing Platform Plans
Originally appeared in MiFID Monitor Following last week’s announcement by CME Group and Citadel Investment Group about their clearing house joint venture, IntercontinentalExchange (ICE) and bank and broker consortium backed Clearing Corporation have released the details of their planned joint venture in the credit default swap (CDS) clearing space. The joint venture has been dubbed…
Vermeg Receives SwiftReady Label for Megacor
Vermeg has received the 2008 SwiftReady label for its corporate actions solution, Megacor, for the sixth year in a row. The label denotes that Swift has deemed the solution in compliance with local standards and practices, following a testing process, according to Hervé Valentin, business development manager, partner management at Swift. Valentin adds: “Earlier this…
Swiss Bank Wegelin Implements Aim Software Interface for Telekurs Data
Swiss private bank Wegelin & Co has implemented Aim Software’s Gain|Apsys interface to improve the import of Telekurs data into the SunGard Apsys banking application. The bank, which has been using Gain Data Management since 2001, says the interface was needed to cope with increased market volume. Wegelin & Co has been using Aim’s platform…
CME Group and Citadel Investment Group Unveil CDS Clearing Platform Plans
Originally appeared in MiFID Monitor Following the announcement that they would be launching a credit default swap trading and clearing platform in November, Chicago Mercantile Exchange (CME) Group and hedge fund Citadel Investment Group have revealed more details about their joint venture. According to both parties, the electronic platform will act like an exchange and…
Archway Technology Partners Selects Interactive Data for Daily Securities Pricing Services
Financial software company Archway Technology Partners has selected Interactive Data’s Pricing and Reference Data business to provide daily securities pricing services and evaluations of fixed income securities. Archway, which services the software requirements of private investment companies, will provide its clients with the daily pricing information via its back office accounting platform. Archway will use…
Data Vendors Keen to Play Role in US Government’s Tarp Scheme
Originally appeared in MiFID Monitor Following the passing of the Federal Reserve and US Treasury’s troubled asset relief programme (Tarp) last week, data providers including Thomson Reuters and Bloomberg have indicated that they wish to play a part in the programme. The vendors are keen to get involved in the area of pricing and risk…
NumeriX Promotes Nakamura to MD of Japanese Operations
NumeriX, a provider of analytic solutions for structuring, pricing and risk analysis of derivatives and structured products, has promoted Yukiko Nakamura to managing director of its Tokyo office. Nakamura, who was previously vice president of business development for Asia Pacific, will now oversee the company’s operations in Japan and Korea. Nakamura has more than 12…
Euroclear Launches Pricing Benchmark for European Commercial Paper
Euroclear has launched the first benchmark to help European investors evaluate prices in the region’s commercial paper markers. The securities settlement provider has indicated that the service is based on Euroclear data and provides daily and weekly data on average yields for euro commercial paper. Olivier Grimonpont, director and head of product management for fixed…
eSecLending Picks Asset Control’s AC Plus to Support Securities Lending Automation
Full service securities lending agent eSecLending has selected Asset Control’s AC Plus financial and reference data management software with a view to supporting its efforts to increase automation in its securities lending programmes. According to the vendor, the solution was chosen following a rigorous search and selection process. AC Plus will therefore support the development…