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Virginie’s Blog – MiFIR: A New Breed of Data Requirements

Rather than opting for an all in one directive to herald the second coming of MiFID, the European Commission has split the update into two parts: a regulation and a directive. The Markets in Financial Instruments Regulation (MiFIR) should be of particular interest to the data management community due to its focus on all aspects…

Virginie’s Blog – To Share or Not to Share?

As expected, the issue of data sharing across regulatory borders has proved to be a particularly controversial issue over recent months. A case in point is the recent response to the Financial Stability Board (FSB) by the Global Financial Markets Association (GFMA) on the subject of recovery and resolution planning, which suggests that home country…

LSE’s Acquisition of the UK FSA’s TRS for £15m Brings UnaVista’s Range of Functions to an Extended Client Base, Says Husler

The announcement this week that the London Stock Exchange (LSE) is in the process of acquiring the UK Financial Services Authority’s (FSA) approved reporting mechanism (ARM) is likely to be the first but not the last acquisition that the exchange operator will be making in the post-trade space this year, if CEO Xavier Rolet’s ambitions…

Reliance on Data Vendors, Cost and Poor Data Quality Remain Hurdles to Transparency, Says City of London Paper on MiFID

As the MiFID review process rumbles on ahead of a potential sequel, more and more attention is being directed towards the data quality issues underlying the barriers to post-trade market transparency (see commentary on which here). On this note, the City of London’s recently published report into the impacts of MiFID (handily titled “Understanding the…

Does the European Commission’s Ruling on S&P Regarding ISIN Pricing go Far Enough?

Some corners of the industry are not convinced that the European Commission’s recent ruling on Standard & Poor’s ISIN pricing commitments goes far enough, as evidenced by comments made by a number of industry associations including the European Fund and Asset Management Association (EFAMA) and the UK-based Information Provider User Group (IPUG) last week (see…

The Realization Group Partners with UnaVista to Deliver Post Trade Services

The Realization Group (TRG) announced today that it has selected UnaVista as a preferred partner in the TRG Post Trade Services solutions portfolio. UnaVista is the London Stock Exchange’s secure hosted platform for all validation, matching and reconciliation needs. UnaVista offers a number of solutions including Post Trade services, Data Solutions and Reconciliations. TRG have…

The Left Hand Isn’t Talking to the Right

This week saw the issue of legal entity identification raised within a number of forums, but the discussions during these various events seemed to indicate a degree of disparity between European and US approaches to the space. Moreover, they also highlighted a trend I noted back in December last year (see here) that the data…

UK FSA’s Response to MiFID Warns Against a One Size Fits All Approach to Data Standardisation

The recent joint response by the UK Financial Services Authority (FSA) and the UK Treasury to the European Commission’s MiFID proposals indicates that the regulators are concerned that a “one size fits all” approach towards data standards may be applied to non-equity instruments, as the directive is expanded beyond equities. The response, which comes in…

European Commission’s Leaked MiFID Review Paper Highlights Data Standardisation Challenges Ahead

Following on from the slew of technical advice and consultation papers that have been issued by the Committee of European Securities Regulators (CESR) over the course of this year (see here for example), the European Commission has finally drawn together its public consultation document on the subject of the MiFID Review, a draft of which…

BT’s Pickles Discusses the Data and Risk Management Aspects of the Sequel to MiFID

Although there has been significant focus on the front office and trading impacts of the MiFID review, there are a whole host of middle and back office concerns to consider. Reference Data Review speaks to Chris Pickles, head of marketing for Financial Markets & Wholesale Banking at BT, about his perspectives on these challenges. There has…