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Association of Global Custodians Calls for Issuers to Join the ISO Party, Urges Members to Adopt ISO15022
The custodial bank community has often been blamed for ongoing inefficiencies in corporate actions processing as a result of supposed reluctance among custodians to adopt standardised messaging. The allegation has been that they would prefer asset managers to communicate with them via proprietary mechanisms, rather than using standardised ISO 15022 messages for corporate actions. Now…
Interactive Data Closes Acquisition Of Xcitek Market Data
Interactive Data Corporation has closed the acquisition of the assets comprising the market data division of Xcitek and the market data assets of its affiliate Xcitax for $25.3 million in cash (Reference Data Review, March and April 2007). As part of the initial integration efforts, Xcitek’s services will be marketed as Interactive Data Xcitek.
Thomson, Reuters Boards Agree to Combination Transaction
The boards of Thomson and Reuters have agreed to combine the two groups, and intend to recommend the transaction to their shareholders. Woodbridge, the Thomson family holding company which controls some 70 per cent of Thomson, has irrevocably committed to vote in favour of the transaction, and the Reuters Founders Share Company, which controls a…
Telekurs Financial Unveils New Fair Value Service for Illiquid Bonds
Telekurs Financial has launched a new Fair Value Service for valuing illiquid bonds. The engine-driven evaluation service complements the evaluated pricing data Telekurs Financial takes in from partners such as Mergent, FRI, Bear Stearns and Standard & Poor’s, and has been developed by the vendor to meet a perceived growing demand for illiquid bond pricing….
Value at risk?
News that Telekurs Financial is entering into the evaluated pricing space under its own steam with a new Fair Value Pricing service for illiquid bonds prompts us to reflect on how busy the evaluated pricing arena is getting. If, as it has long been expected to do, Bloomberg finally unveils its evaluations offering this year,…
CMA Appoints Peter Vitale Vice President, Sales
CMA, the credit information specialist, has appointed Peter Vitale as vice president, sales for its credit market pricing data (CMA DataVision) and intraday services (CMA QuoteVision). Vitale, previously head of sales at GFI’s Data & Analytics North America Division, will be based in New York, charged with responsibility for sales and account management globally.
DTCC Picks up Penson Canada For Corporate Actions Data
Penson Financial Services Canada is the first Canadian clearing firm to use DTCC’s Global Corporate Action Validation Service (GCA VS). It joins a major Canadian bank among the users of the service, and DTCC says it is in active discussions with a number of other organisations in Canada about GCA VS. Susan Spivey, head of…
Markit Hires Ex-Morgan Stanley Man Gooch to Head Valuations
An outsourced portfolio valuations service could save the industry significant amounts of money by eliminating duplication of effort by investment banks, custodians and trustees. So believes Jeff Gooch, recently appointed to head Markit Group’s portfolio valuations and trade processing businesses. Gooch joins the Markit executive management team following an 11-year stint at Morgan Stanley, where…
Asset Control Upgrades Clients To New Version of TAPMaster
Asset Control has unveiled the third full feature release of TAPMaster, introducing fundamental new functions and offering increased performance, scalability and the security capabilities of the latest Microsoft technology. TAPMaster, which recently came into the fold of Asset Control’s offerings following its acquisition of TAP Solutions (Reference Data Review, April 2007), is an end-to-end Microsoft…
Eagle Lands Legacy Replacement Deal at Boutique Firm Trilogy
US-based Trilogy Global Advisors, a boutique emerging markets equities fund manager, is implementing technology from Eagle Investment Systems to help manage its portfolio. The Eagle suite of products will enable Trilogy to retire its legacy accounting system. According to John Lehner, president of Eagle Investment Systems, there are a couple of reasons for Trilogy’s decision…