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EFAMA’s Updated Framework for Fund Processing Best Practices
EFAMA today published new recommendations to increase efficiency in the processing of fund orders. The report was prepared by EFAMA’s Fund Processing Standardisation Group (FPSG). It consolidates the recommendations that were published in 2005 and updated in 2008, and extends the recommendations in two key areas. Transfers of units between two accounts recorded in the…
Societe Generale Securities Services Mandated by Ethias to Provide Independent Valuations
Societe Generale Securities Services (SGSS) has been mandated by Ethias, a Belgian insurance company, to provide independent valuation services. These services cover a portfolio of complex structured products. SGSS was retained because of its expertise in this area, alongside the quality of its services (database of mathematical models developed in-house, flexibility in valuation frequency, analysis…
Swift Talks up the Cost Saving Benefits of ISO 20022 Adoption, New Concepts
This week’s Swift Standards Forum event in Sydney is part of the network operator’s push to convince the financial services industry at large of the benefits of migration to ISO 20022. Obviously, the securities industry and, more specifically, the corporate actions space represent key opportunities for the ISO messaging standard and Swift has therefore been…
Deloitte Selects SunGard’s FastVal for Independent Valuations for its Audit and Advisory Businesses
Deloitte LLP, a global provider of audit, tax, consulting and financial advisory services, has selected SunGard’s FastVal, an independent valuation service for vanilla and complex over the counter (OTC) derivatives. Deloitte will use FastVal to provide it with an independent valuation service when revaluing its clients’ derivatives portfolios. FastVal’s coverage of vanilla and OTC derivatives…
PolarLake Announce Semantics Based Reference Data Search Capability
Today PolarLake announce the availability of the world’s first Reference Data Specific Enterprise Search capability. Based on the research and development activities of PolarLake this new capability will enable an internet style search capability across any number of reference data sources. The product also enables firms to define their own linkages, meta data and data…
Northern Trust Enhances Asset Valuation Capabilities for Investment Operations Outsourcing Clients
Northern Trust announced today it has strengthened its client specific asset pricing capabilities for investment managers on its Investment Operations Outsourcing platform through an agreement with Broadridge Financial Solutions, a technology services company that provides information processing for investor communications and securities transactions. Under the agreement, Northern Trust will utilise Broadridge’s Managed Data Service to…
SIX Telekurs Redefines its Products and Services Categories
In response to client demand for a varied range of both standardised and customised data solutions, SIX Telekurs has redefined its products and services categories, to include SIX Telekurs Solutions. This new product category includes wide-reaching and varied solutions, offering customers a one-stop shop for their data and data solutions requirements. SIX Telekurs is a…
New Chief Executives at Euroclear Finland
The board of Euroclear Finland Ltd has appointed Anso Thiré as chief executive officer and Hanna Vainio as deputy chief executive of the Finnish central securities depository (CSD), Euroclear Finland. The appointments are effective immediately. The necessary approvals have been obtained from the Financial Supervisory Authority (FIN-FSA) of Finland. Anso Thiré will also serve as…
Back Office Exec Registration on the Cards for Broker-Dealers, But What Impact Will it Have on Data Management?
The Financial Industry Regulatory Authority (Finra) has this month announced that it will be pushing ahead with its proposals to introduce registration requirements for back office operations execs within broker-dealer firms. But what will be the financial and practical impact on these back office functions, including data management and potentially outsourced operations roles, in the…
ESMA Praises Joined up Approach to Valuations and Risk Management in IAS 39 Hedge Accounting Changes
The European Securities and Markets Authority (ESMA) has sent a letter to the head of the International Accounting Standards Board (IASB) regarding its views and concerns about incoming hedge accounting changes that are included in the recent exposure draft on IAS 39. ESMA indicates in the letter that the proposals will allow for a more…