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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…

To Centralize or Not to Centralize

It’s always better to end with a bang than a whimper. So we were happy this month’s FIMA event in London gave the reference data community real pause for thought. Many industry events don’t deliver; this one did. Central to the three days of industry debate was the subject of, erm, centralization. In other words,…

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…

A-Team Survey Highlights Issues Facing Reference Data Managers

Regulations – and not straight-through-processing, and the potential for operational efficiencies – are driving financial institutions to grasp control of their reference data management processes. Reference data initiatives are increasingly driven by senior management – often at board level – mostly through fear of regulatory censure should they fail to comply with the new regulations….

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…

Full Speed Ahead, but Get Management Buy-In First!

What with independent research groups predicting diametrically opposed directions of IT spending in financial services, it’s difficult to get a handle on how our industry’s recovery is really going. We were piqued to see Celent and TowerGroup disagreeing on the direction of the marketplace – one said European IT spending in finance was heading down,…

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…