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EFAMA Publishes Briefing on the European Fund Classification (EFC)
The European Fund and Asset Management Association (EFAMA) has published the second edition of its “European Fund Classification” (EFC) Forum Briefing which updates on progress made towards the adoption and enhancement of the EFC so far this year. The EFC has been launched with a view to enhancing the integrity of European investment funds. The…
Pricing Partners Upgrades its Hybrids Module to Determine the Volatility Bias
Pricing Partners announced today that the award winning Price-it solution enhanced its derivatives pricing library to compute automatically volatility bias due to stochastic interest rates in hybrids models. In a single asset equity (or fx or commodity) model that uses a stochastic interest rates, there is some additional volatility created by the stochastic drift. Hence,…
ESMA’s IFRS Report Highlights “Room for Improvement” in Fair Value Data Disclosure
The European Securities and Markets Authority’s (ESMA) recent report on the application of International Financial Reporting Standards (IFRS) across the European region highlights that firms are still falling short in their data provision for fair value hierarchy and qualitative disclosures on risks arising from financial instruments. Although the European level regulator notes that progress has…
Charles River Data Service Ensures Timely, Accurate Data for Buy-Side Firms
Charles River Development (Charles River), a front- and middle-office investment solutions provider, today announced the availability of the Charles River Data Service, a new offering that delivers validated security reference, issuer, benchmark/index and pricing data aggregated from various leading providers directly into the Charles River Investment Management System (Charles River IMS). Live with its first…
Compliance Specialist co-comply Signs Three New Contracts
co-comply, the compliance and governance software supplier to the institutional and hedge fund industries, announces that it has signed three new contracts in the hedge fund, wealth and institutional asset management markets. Esemplia Emerging Markets, the active emerging markets equity asset manager, has agreed an initial three-year license for all modules of co-comply – the…
Opinion: LEIs – The Need for a System
By Chris Pickles, head of industry initiatives, BT Global Banking and Financial Markets On 15 October the finance ministers and central bankers of the G20 economies issued a communiqué that said: “We underscored our support for a global legal entity identifier (LEI) system which uniquely identifies parties to financial transactions with an appropriate governance structure…
Opinion: Moving One Step Closer to a Global LEI
By Bill Meenaghan, global product manager for Alert, Omgeo Support from the G20 group of finance ministers and central bank governors for a global legal entity identifier (LEI) system is a promising development and one that, we hope, will encourage momentum towards the adoption of the LEI standard. With the second phase of the ISO…
Interactive Data’s Fair Value Information Service Now Offers New 16:00 CET Evaluation Point
Interactive Data Corporation, a leading provider of independent pricing and evaluation services, today announced an expansion of the capabilities of its Fair Value Information Services (FVIS) by introducing a new 16:00 Central European Time (CET) evaluation point for Asia-Pacific and Middle Eastern equity securities. This new service is designed to help meet the fair value…
SunGard Adds Data from GFI Group to Enhance its FastVal Derivatives Valuation Service
SunGard has added data from GFI Market Data, a division of GFI Group Inc. (“GFI”), to help enhance the quality of the data in SunGard’s FastVal, which provides independent valuation services. GFI, a leading provider of wholesale brokerage, clearing services, electronic execution and trading support products for global financial markets, will supply FX data to…
ISDA Unveils New Mission Statement
The International Swaps and Derivatives Association, Inc. (ISDA) announced today that its board of directors has updated its mission statement to reflect the Association’s evolving mandate in the rapidly changing global derivatives markets. The new mission statement is: ISDA fosters safe and efficient derivatives markets to facilitate effective risk management for all users of derivative…