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Financial Information Forum Highlights the US$250m Cost of New Options Symbology, Finds Industry Dissatisfaction with Lack of Agreed Standards
The majority of industry participants are disappointed and frustrated that an agreement has not been reached on an alternative standard to the Options Price Reporting Authority (Opra) code, according to a recent study by the Financial Information Forum (FIF). Mary Lou Von Kaenel, managing director, management consulting at New York-based consultancy Jordan & Jordan, which…
Eurex Clearing Releases Details for its Credit Derivatives Clearing Solution
Originally appeared in MiFID Monitor Following the announcements by players such as CME and ICE last week, Eurex Clearing has finally revealed more details about its planned central clearing solution for credit derivatives. According to Eurex, the Deutsche Bundesbank has indicated its support for a European central clearing solution for OTC credit derivatives that will…
GoldenSource Adds Goodman as CFO, DeCicco as MD of Client Ops and Corryn as Sales Head
GoldenSource Corporation has appointed Dave Goodman as its new chief financial officer, Philip Corryn as head of sales for North America and Jim DeCicco has been promoted to managing director of client operations for the Americas. As CFO, Goodman will be responsible for the vendor’s overall financial discipline and administrative functions. Prior to joining GoldenSource,…
Interactive Data Adds More Data to Probate Valuation Service
Interactive Data Corporation’s Pricing and Reference Data business has enhanced its Probate Valuation service by adding valuations for new instruments including hard to price securities. According to the vendor, the service now offers valuations for more than six million global listed securities and funds, as well as unit trusts, and takes into account undistributed dividends…
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…