A-Team Insight Blogs The latest content from across the platform
HSBC Opts for Accurate NXG for Reconciliations
HSBC plans to install Accurate Software’s Accurate NXG reconciliation system across several units within its corporate, investment banking and markets (CIBM) division. The platform is aimed at improving operational control and reducing exposure to operational risk.
Mizuho International Picks XcitekSolutionsPlus for CA Automation
London-based Mizuho International has signed up for XcitekSolutionsPlus’s XSP platform for automation of corporate actions data, marking the second European contract for the U.S.-based vendor this year. The selection followed evaluation of “several corporate actions system providers,” according to John Sweeney, executive director of securities services at Mizuho. Invesco’s European offices signed up for XSP…
DTCC Unveils Smart/Source Event, Reference Data Service
The Depository Trust & Clearing Corp. (DTCC) has introduced Smart/Source, offering online, Internet-based access to the security and reference data it collects and maintains for the more than two million securities eligible for processing by its Depository Trust Co. unit. DTCC is a major source of corporate event and reference data. The new service can…
Brewin Consulting Launches Reference Data Diagnostic
U.K. consultants Brewin Consulting has introduced Reference Data Diagnostic, which helps financial institutions understand and tackle data quality issues around reference data. The system offers analysis on why quality of certain data is poor and offers suggestions on how to improved it. At the heart of the system is a reference data rule base that…
Corporate Actions Represent Major Risk to Global Marketplace
New research estimates that incomplete or incorrect corporate actions information poses a front-office trading risk of between EUR1.6 billion and EUR8 billion annually, while firms individually may face back-office processing risks amounting to tens of millions of euros from mishandling a single, complex corporate action event. The research was conducted by U.K. analysts Oxera, and…
Scratching the Surface
As with many other intellectual or indeed leisure pursuits, getting to grips with reference data can be a stimulating affair. The more you scratch at the surface of the topic, the more complexity you find underneath. Unpeeling the layers of the reference data onion seems to be emerging as a more rewarding vocation than it…
SunGard in Acquisition Talks with Asset Control as Accenture Selects AC For Outsourcing Solution
Acquisitive SunGard is in talks about a possible purchase of data management firm Asset Control. Although in early stages of discussion, the talks appear to be part of a wider strategy by SunGard to make a substantial commitment to the reference data area, already indicated by its earlier acquisition of Fame Information Services late last…
ADP Partners with RemitPro to Offer Client Verification
ADP Brokerage Services Group has introduced a customer identity verification system, integrated with the company’s Brokerage Processing Services (BPS) securities processing system. The client validation system is aimed at helping broker-dealers’ compliance and new accounts departments to verify their customers’ identities in accordance with the USA Patriot Act. The system was built using RemitPro’s Risk…
Daiwa Securities America Opts For XSP Platform, Data
Daiwa Securities America has gone live with XcitekSolutionsPlus’s XSP corporate actions processing platform in a record 30-day implementation. The project had been slated for a 60-day rollout. Daiwa opted for XSP in the hopes of reducing its exposure to corporate actions processing failure while preparing for future volume increases. In addition to the XSP software…
Full Speed Ahead, but Get Management Buy-In First!
What with independent research groups predicting diametrically opposed directions of IT spending in financial services, it’s difficult to get a handle on how our industry’s recovery is really going. We were piqued to see Celent and TowerGroup disagreeing on the direction of the marketplace – one said European IT spending in finance was heading down,…