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ISDA Approves BGC Partners’ Swaps Pages as Pricing References

The International Swaps and Derivative Association (ISDA) has formally recognised interdealer broker BGC Partners’ euro interest rate swap (EUR) and US dollar (USD) interest rate swap pages as price references. The pages will be snapshots of real-time BGC screens taken at a predetermined time daily. ISDA documentation governs the terms to confirm, mark, assign and…

UK FSA Criticises Industry for Inadequate Controls in Valuation Processing

Firms’ valuation processes are becoming increasingly stretched and in some cases are “materially flawed or inadequate”, according to the UK Financial Services Authority (FSA). In an open letter to the CEOs of banks and investment firms, FSA chief executive Hector Sants has criticised the lack of due care and attention being given to the area…

Interactive Data Adds Access to Original Fund Prospectuses to PrimeTerminal

Interactive Data Corporation’s Managed Solutions group has enhanced its financial market terminal, PrimeTerminal Professional Edition, by adding access to original fund prospectuses as an optional service for more than 20,000 funds from various European markets. As a result of Interactive Data’s collaboration with Austrian funds data supplier Boersensoftware und Datenbankservice and Italian funds data supplier…

Omgeo Appoints Ex-Eagle VP Hillyer as MD of Client Operations

Originally appeared in MiFID Monitor Omgeo, the post-execution trade management solutions provider, has appointed Scott Hillyer as managing director, client operations. In this role, he will focus on driving client satisfaction and enhancing the overall client experience by facilitating cross-functional collaboration and acting as an advocate for Omgeo’s clients. According to Omgeo, he will also…

CMA Releases New Version of DataVision with Enhanced Curve Modelling

Credit information specialist CMA has released a new version of its same day price verification service for the OTC credit derivatives market, DataVision. According to CMA, DataVision 2.1 includes enhanced curve modelling and an expanded data set. DataVision provides portfolio and risk managers with independent price verification for CDS, indices and tranches based on a…

SEC Provides Details of Upgrade to Edgar Database

Earlier this week, Securities and Exchange Commission (SEC) chairman Christopher Cox announced the upgrade to its reporting and disclosure system, the Edgar database. According to Cox, the new XBRL-based platform will give investors faster and easier access to key financial information about public companies and mutual funds, when it is introduced over the next three…

XSP Hires Barth as Sales Exec for North America

XSP has appointed John Barth as senior sales executive responsible for managing accounts in North America for the XSP Corporate Actions software product. Barth was most recently senior account executive at CareMedic System, where he was responsible for selling revenue cycle software and consulting solutions in the southern regions of the US.

Lack of Single Source of Data on Pricing of Credit Derivatives Poses Problem for Clearing House Plan

Following the recent discussions about the launch of a possible central clearing house for credit derivatives later this year, a number of related concerns have been raised in the market. Not least of these is the lack of a single, reliable source for reference pricing data. Although there are a number of derivatives pricing vendors…

OTC Val Expands Derivatives Coverage to Synthetic and Bespoke Products to Meet Growing Client Demand

OTC Valuations (OTC Val), a provider of independent derivatives valuation and risk reports for structured products and exotic derivatives, has expanded its derivatives coverage for credit, inflation, equity, FX, and fixed income products. The vendor has increased its asset class coverage to meet client demands for both vanilla and complex derivatives pricing. OTC Val has…

Counterparty Risk Should be Monitored Daily to Contain Systemic Shocks, Recommends CRMPG

As part of the industry’s drive to contain systemic risk, financial institutions should receive daily end of day counterparty risk reports, according to the Counterparty Risk Management Policy Group’s (CRMPG) recent report. The group was formed in April this year to examine the steps that must be taken by the private sector to reduce the…