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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…

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…

NewRiver Joins XBRL US as Part of Plan to Simplify Financial Disclosure

NewRiver, a US provider of a central repository of mutual fund documents and data for financial services firms, has joined XBRL US, the national consortium for XML business reporting standards. The firm has joined the consortium in order to help the industry simplify financial disclosure, according to Russ Planitzer, president and CEO of NewRiver. The…

A-Team Analysis: Can S&P Solve the Problem of Entity Identification Where the ISO Process Has Failed?

Another month, another twist in the tail of the International Business Entity Identifier (IBEI) story. In fact, there could be two twists this month if the Swift CIVIC initiative does turn out to be on the skids. As reported extensively in Reference Data Review last year (in the October 2007 issue among others), the ISO-led…

Who’s Ready for SEPA? By Andrew Foulds, head of client services, CB.Net

As the Single Euro Payments Area (SEPA) deadline looms, there is a sense of panic growing among organisations, many of which are not prepared for the significant changes that will be required for payment processes. While corporates may be aware of the EU Directive and SEPA’s impending 2008 deadline, many have yet to devise a…

CB.Net Adds Routing BICs to Directory to Aid SEPA Compliance

CB.Net is adding Swift-enabled routing BICs to its international payments directory BankSearchPlus, part of the CB.Net Payments Reference Data Service. The new capability, supported by the addition of an extra field to allow the identification of the routing BIC, is available as part of a standard upgrade to users of the vendor’s web-based service and…

London Stock Exchange Goes Live with Sedol Master File Service

The London Stock Exchange’s widely anticipated Sedol Master File (SMF) service went live on March 15 in the hopes of exploiting what it sees as an opportunity to supply more detailed identity information particularly in the area of cross-border trading. After the first week of operation, around 50% of the LSE’s users had accessed the…

Calling All Data Feeds…

Dutch data management specialist Asset Control has ambitious plans to integrate the complete set of reference datafeeds into a single industry utility, chief executive Ger Rosenkamp explains. When Asset Control announced at the end of last month that it had mapped and normalised Telekurs Financial’s Valordata Feed (VDF) to its AC Plus system and ACDEX…