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Trace Financial Names Cumberland to BizDev Role
Hugh Cumberland has joined Trace Financial as head of business development. Cumberland was previously at Mercator, where he was responsible for product management, until that company’s merger with Ascential Software. Prior to that, he held positions at Syntegra, Tantus, Quotient, Charterhouse, Banque Indosuez, Baring Securities and Swift. Trace Financial is a middleware and corporate actions…
Citigroup Buys Communicator QIB Hub for ID Management
Citigroup has implemented the QIB Hub identity management solution from Communicator Inc. The system will be used to manage Citi’s Qualified Institutional Buyer certification, under which the bank will have electronic access to more than 25,000 institutional trading account details. Institutions’ compliance, settlement and operations professionals are required to verify that clients are Qualified Institutional…
Correction: LSE SMF Pricing
The pricing for the London Stock Exchange’s Masterfile service was misstated in last month’s issue of Reference Data Review. User licenses are based on access to bands of Sedol codes: £500/year for few than 1,000 codes; £1,500/year for 1,000-5,000 codes; £5,000/year for 5,001-10,000 codes; and £15,000/year for more than 10,000 codes. For distributing vendors (and…
Another One Bites the Dust?
We’ve long held the belief that reference data is the market segment where the action is. But we weren’t prepared for the onslaught of corporate activity that we’ve witnessed in the past two months. First, SunGard swooped down on Fame. SunGard is widely known as being an aggressively acquisitive entity, and upon reflection its interest…
Capco Purchase of Iverson Financial Yields Data Platform, Outsourced Management
Capco’s acquisition of California-based data management specialist Iverson Financial Systems last month gives the business services provider both a viable outsourcing solution and a platform product upon which to base its continuing push into the reference data marketplace. The deal appears to be a logical step toward establishing a product approach to complement Capco’s heretofore…
MDDL: Bearing the Reference Data Standard By James Hartley, Chief Technologist, SIIA/FISD.
Just as the World Wide Web is maturing and the capabilities of Web Services are evolving, so are the data and application standards that use these tools. The Market Data Definition Language (MDDL) is the emerging eXtensible Markup Language (XML)-based standard for reference data. The financial services industry finds itself grappling with the fiscal need…
Xcitek Reshuffles, Seeing Demand For Corporate Actions Solutions
Xcitek, a provider of corporate actions data and management software, is reshuffling its sales, client services and marketing groups, and has plans to hire several new sales and sales support staff. The corporate realignment is cited as a response to growing demand for the company’s XSP corporate actions systems and services. According to Brendan Farrell,…
London Exchange Delays Sedol Upgrade, Citing High Demand
The London Stock Exchange has delayed the launch of its upgraded Sedol Masterfile Service, citing additional testing precautions in the face of apparently greater-than-expected demand. The delay, however, is not expected to be significant, with a new launch date scheduled for announcement on January 23. The new version of the SMF Service will change the…
UII Protagonists Heed Dessug’s Concerns About Standard
Industry groups seeking to establish a unique industry identifier (UII) for multi-listed securities that are traded cross-border have agreed to addresss calls for clarification from a German user group. The move appears to answer concerns raised by Dessug, the German Swift Securities User Group, which requested that a simpler vocabulary and an updated glossary of…
Telekurs Financial Expands Management Team in the U.K.
Swiss data vendor Telekurs Financial has added executives to its U.K. management team. Dominique Tanner, head of business development, becomes deputy to Telekurs (U.K.) CEO Beat Koch. Olga Bobrova, previously with Telekurs Financial Japan, becomes head of strategic marketing. Elizabeth Coleman, previously with Telekurs Financial France, becomes head of management services, with responsibility for finance…