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Datanomic Announces Formation of Independent Advisory Board

Compliance and data management specialists, Datanomic, today announced the formation of an independent advisory board to help steer the company through its next phase of domestic and international growth. The advisory board will draw on the knowledge and experience of external, independent experts to deliver guidance, governance and market insight as Datanomic continues to expand…

Fitch Releases Global Money Market Fund Rating Criteria

Fitch today released updated rating criteria for money market funds, with particular emphasis on funds that invest in short term debt instruments issued by financial institutions, non-financial corporations and asset backed commercial paper programmes (often referred to as ‘prime’ funds). Prime money market funds were central to the financial crisis last year following the failure…

Buy Side Participation for ICE Trust to be Enabled in October

IntercontinentalExchange (ICE), an operator of regulated global futures exchanges, clearing houses and OTC markets, has developed a solution that provides segregation of customer funds and positions in credit default swap (CDS) clearing. The solution, which will enable buy side participation in CDS clearing, is expected to be introduced in October 2009, subject to regulatory approval….

Majority of CDS Products Will Never be Centrally Cleared, Says Tabb Group

In new research published today, Tabb Group says the majority of credit default swaps (CDS) products blamed for adding significant systemic risk to the global financial markets will never be centrally cleared in the United States and Europe. According to the report’s authors, Larry Tabb, founder and CEO, and Robert Iati, partner, global head of…

One View on Transparency

By Douglas Long, executive vice president of business strategy at Principia Whether looking at structured finance operations within commercial banks, or the exposure of these portfolios on the wider enterprise, markets or economy, the crisis has demonstrated there is room for improvement for everyone at this time of transition. The current financial crisis has highlighted…

European Parliament and Council Approve Commission’s Ratings Agencies Regulations

The European Parliament and the European Council have both approved the recently proposed regulation on credit ratings agencies, tabled by the European Commission earlier this year. The new regulation will put in place a common regulatory regime for the issuance of credit ratings with a view to restoring market confidence in the sector and increasing…

Firms are Focused on the Three Rs: Risk, Regulation and ROI, Says GoldenSource’s Raeves

Today’s economic environment has caused financial institutions to go back to basics and focus on the three Rs: risk, regulation and return on investment (ROI), explained Gert Raeves, senior vice president of strategic business development and marketing at GoldenSource, to attendees at the EDM vendor’s recent briefing on risk management. Raeves also discussed the findings…

Merrill Corporation’s Schlanger Joins XBRL US Board of Directors

Originally appeared in MiFID Monitor Michael Schlanger, vice president of product management for XBRL at technology vendor Merrill Corporation, has been appointed to serve on the XBRL US board of directors. According to the vendor, Schlanger develops financial product strategies in response to client and regulatory needs and is on the leadership team guiding the…

IBM Data Governance Council Promotes XBRL for Risk Measurement Reporting Standards

Originally appeared in MiFID Monitor In order to tackle the inconsistency in the measurement of aggregate risk in the market the IBM Data Governance Council is seeking responses from market participants to its recent proposals for risk measurement reporting standards. The group, which was set up three years ago by IBM and comprises 50 financial…

Thomson Reuters Signs Agreement to Purchase GRC Vendor Paisley

Originally appeared in MiFID Monitor Thomson Reuters has signed a definitive agreement to acquire Paisley, a US-based software provider of governance, risk and compliance (GRC) solutions. According to the financial information giant, once the deal has received the required regulatory approvals, Paisley will become part of its Tax & Accounting business. Paisley’s solutions are focused…