Data Management Insight Regulatory Compliance The latest content from across the platform

ICE Joins Eurex and LCH.Clearnet in Bid for European CDS CCP Supremacy

Following the announcement by LCH.Clearnet last week of its bid to enter the European credit default swap (CDS) clearing counterparty (CCP) market, IntercontinentalExchange (ICE) has indicated its own intentions to establish a transatlantic model for the market. The ongoing furore surrounding splitting CDS clearing between Europe and the US would therefore become a non-issue, according…

LCH.Clearnet Plans to Launch European CDS Clearing by December

Following repeated calls by European Commissioner for Internal Market and Services, Charlie McCreevy, for a European clearing service for credit default swaps (CDS), LCH.Clearnet has decided to step up to the plate. The service would be based in Paris and will be launched by December, pending regulatory approval, says the firm. Christophe Hémon, CEO of…

Two Unnamed Banks Sign up for UnaVista’s Trading Data and Sedol Masterfile Capabilities

Two unnamed banks have signed up this month for access to the London Stock Exchange’s upgraded web-based matching reconciliation and data integration service, UnaVista. One bank has opted to used the service for suspicious trading activity monitoring, whereas the other is looking to LSE’s Sedol Masterfile for securities reference data checking. The service, which was…

NYSE Euronext and Eurex Indicate Concern Over Derivatives Regulation, CDS CCP Debate Continues

Two of the contenders in the credit default swap (CDS) clearing counterparty (CCP) race, NYSE Euronext and Eurex, have expressed their concern about a draft bill in the US aimed at expanding derivatives regulation. The firms are worried that the regulation, which would require mandatory clearing of most OTC products, would have the unintended consequence…

NewRiver Files Lawsuit Against Morningstar for Unauthorised Access

NewRiver, a US provider of a central repository of mutual fund documents and data for financial services firms, has filed a lawsuit against Morningstar, alleging that the investment research firm has used the internet to gain illegal access to its Prospectus Express web-based data warehouse. The firm has also accused Morningstar of unfair competition related…

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…

McCreevy Calls for Regulatory Overhaul and Continues Campaign for European CDS CCP

Originally appeared in MiFID Monitor European Commissioner for Internal Market and Services Charlie McCreevy is back on his soapbox this week and he seems to have two particular bees in his bonnet. The first is, of course, the need for an overhaul of the European regulatory landscape to improve what he calls the “patchwork” of…

Autonomy Agrees to Buy Interwoven for US$775m

Originally appeared in MiFID Monitor US-based EDM technology vendor Autonomy has agreed to buy legal document management system vendor Interwoven for US$775 million. According to Autonomy, the acquisition is aimed at strengthening its offering in the compliance technology sector. The deal is expected to complete in the second quarter of this year and at that…

S&P Under Investigation by European Commission for Pricing of ISINs

All eyes will be on the European Commission as it investigates Standard & Poor’s pricing practices concerning International Securities Identification Numbers (ISINs). The EC launched its inquiry this month, and many will see the outcome as a precedent for numbering agencies’ future ability to charge consumers and redistributors for the identification codes it administers. 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…