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One Month To Go ’Til EUSD; Industry Still Not Ready

With just over 30 days to go before the EU Savings Directive (EUSD) comes into effect on July 1st 2005, it appears the industry is far from being prepared. The impact of not being ready could at best result in financial institutions paying too much tax and having to deal with refund claims from customers,…

Watch out for MiFID, the industry’s greatest challenge since Y2K By Gary Wright, managing director, CityCompass Research

In case you are not aware, the EU’s Markets in Financial Instruments Directive, or MiFID, has been under discussion and review for a number of years. It is not an understatement to say that MiFID will entail fundamental change to all securities markets within the European Union. The changes in both business practice and the…

MiFID: Will Firms be Ready by April 30, 2007? By Dr. Anthony W. Kirby, Founder, RDUG

The European Union’s pending MiFID initiative, or the Markets in Financial Instruments Directive, replaces the Investment Services Directive (ISD), which was originally adopted in 1993. The ISD defined “home” and “host” state regulators, establishing the conditions under which authorized investment firms and banks could provide specified services in other EU member states on the basis…

EUSD: Are You Ready? By Gary Wright, MSI, Managing Director, CityCompass Research

For those not quite up to speed, EUSD stands for the European Union Savings Directive and it impacts just about all financial services firms who act as collecting or paying agents in capital markets within the European Union. These paying agents – including banks, building societies, corporations issuing bonds that pay interest on certain instruments…

WM Datenservice Introduces Feed Access to Reference Data

German data agency WM Datenservice has over the last quarter introduced a data feed service to offer clients a greater degree of flexibility in accessing WM’s reference data and improved timeliness to near-real-time data delivery. The new Financial Object Feed (FOF) is in part a response to the growing trend within the German market of…

Deutsche Börse Plans Propris Reference Data Product Launch

Deutsche Börse is gearing up to launch a new reference data product from its recently formed Back Office Services division. The new Propris – Process Proven Information Services – range of data services will provide reference data for financial events and new issues in the German, Luxembourg and the Eurobond market. On target for a…

Focus on: Basel II and Data Management

Basel II and its requirements for measuring operational and credit risk is one of the key drivers behind the need to accurate and timely reference data. The following is an edited extract of an article written by Dr Urs Bischof, head of VDF engineering at Telekurs Financial and featured in Telekurs’ realtime customer magazine The…

Tick Data Offers Cleansed TAQ Historical Data Service

Tick Data Inc. has launched Tick Equity Database, a cleansed version of the New York Stock Exchange’s Trade and Quote (TAQ) database of raw historical intraday data for all equities on major and regional U.S. exchanges. The Tick Equity Database, with clean trade and quote data from January 1, 1993, to present, was developed for…

Cocktails at Dusk or Weekender? Sibos Reflects Asia Markets Mood By Miroslav Janiic, Finetik Partners

Since Swift decided to go ahead with Sibos and to defy the doom-mongers about a possible SARS backlash, the economic data from Asian markets has improved. Asian countries offer record-low interest rates, record-high liquidity levels and a banks community with cleaner balance sheets than at any time in the past six years. The pump is…

Basel Concerns Boost Risk Budgets

One-third of U.S. risk management professionals surveyed by industry association PRMIA have seen their IT budgets increased and plan to install new software to support the forthcoming Basel II capital requirements. Over 2,000 U.S. PRMIA members were asked for their thoughts on various standards in the risk management profession. The results showed a pre-occupation with…