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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…

BAFT and Bankersalmanac.com Collaborate to Extend Due Diligence Repository

Originally appeared in MiFID Monitor Bankersalmanac.com and the Bankers’ Association for Finance and Trade (BAFT) have agreed to collaborate on promoting and extending the coverage of the reference data vendor’s Due Diligence Repository, which was launched in 2004. The repository has been set up by Bankersalmanac.com as an industry utility and BAFT will be engaged…

Omgeo Appoints Kumar, Johnston, Burkley and Robson to Board

Omgeo, the post-execution trade management solutions provider including Alert for standing settlement instructions (SSIs), has added four new members to its board of managers. The new board members include Naresh Kumar, managing director and global head of operations of the institutional clients group at Citi, Peter Johnston, managing director of global securities and clearing operations…

Stuart Clark Announces Retirement as CEO of Interactive Data

Stuart Clark has announced his plan to retire next year after 14 years at the helm of data services vendor Interactive Data. Clark has worked for the vendor or one of its predecessor companies for over 40 years. The nominating and corporate governance committee of the board will identify and screen potential successors over the…