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Reuters Testing Equity Derivatives Pricing Capability, Will Make Prices Available to All Clients in Q3
In a bid to keep up with customer requirements for prices across a broader range of instrument types, Reuters is currently testing a capability to price equity derivatives, with a view to making equity derivatives prices available to all clients in the third quarter. Increasingly, consumers of evaluations have a growing abundance of sources to…
Markit Launches Daily CDS of ABS Spread Service…
Markit has launched a daily consensus spread service for CDS of ABS. CDS of ABS, also known as ABCDS, are credit default swaps referencing asset-backed securities. Markit’s CDS of ABS spread service receives daily feeds from market makers’ books of record. Spreads are cleaned and validated overnight before publication the following morning. Clients of the…
With Derivatives Value Set to Break $500 Trillion Next Year, Cutting Valuations Risk is a Must, Says Celent
Analyst Celent has responded to the buzz around valuations for OTC derivatives and structured products with a report released this month in which it compares risk and pricing analytics solutions to support financial engineering and valuation functions. To put the importance of these solutions in context, Celent predicts that the combined notional value for all…
OTC Derivatives Shake Up Data Management; Data Consistency Key
The growing use of OTC derivatives is shaking up data management strategies across the industry. Three-quarters of firms have re-evaluated or are planning to re-evaluate their data management processes as a direct result of the expansion in use of these instruments (see chart, below), according to a survey conducted by A-Team Group (publisher of Reference…
Interactive Data Adds Independent Valuations of Interest Rate Swaps Based on ICAP Benchmark Curves
Interactive Data Corporation’s Pricing and Reference Data business has introduced a service that will automate the delivery of independent valuations of interest rate swaps based on benchmark curves from ICAP, and trade details input by customers. Ian Blance, vice president, capital markets, Interactive Data (Europe), says this development has been driven by client demand. “Since…
Help Out There for Asset Managers Struggling to Price OTC Derivatives, But Outsourcing No Silver Bullet
One of the many operational challenges faced by fund managers as they invest more in OTC derivatives is accurately valuing portfolios containing hard to price instruments, but the good news is that “there’s a lot of experience out there” for firms to tap into, delegates at the recent Optimising OTC Derivative Operations in Fund Management…
Central Instrument Model, Compliance with ISO 19312 Key in MDDL 3.0, But Does the Market Really Want it?
Version 3.0 of MDDL (Market Data Definition Language) is now available, but the jury’s out on whether the latest iteration of the XML dialect for securities market data will be greeted with any greater degree of enthusiasm by the market than its predecessors. GoldenSource – historically a strong advocate of the standard – has not…
Firms Will Spend $1.67 Billion on EDM in 2007, Aite Finds, But Most Don’t Plan to Hire Chief Data Officers
Enterprise data management (EDM) initiatives will account for $1.67 billion of spending by financial services firms in 2007, driven in the US by securities reference data challenges and data silos, and in Europe by the requirement to control client and counterparty data to comply with regulation such as MiFID and Basel II. So says analyst…
GoldenSource Hires Gallagher for Sales, Edelstein for Product Role
GoldenSource has bolstered its ranks with the hire of two new senior executives. Ed Gallagher joins as senior vice president, head of sales and client operations for the Americas, and Neil Edelstein is the vendor’s new senior director of product solutions. Gallagher was most recently president and CEO of independent research provider Rapid Ratings, and…
Tim Lind Leaves GoldenSource for Strategy Role at Omgeo, Sees Opportunities to Partner Swift on SSIs
Tim Lind has parted ways with enterprise data management specialist GoldenSource for pastures new at Thomson Financial/DTCC-owned post-trade, pre-settlement solutions provider Omgeo. As Omgeo’s new managing director, strategic planning, Lind reports directly to president and CEO Marianne Brown, and is also a member of Omgeo’s executive team. Lind’s move must be viewed as something of…