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IOSCO Confirms Hedge Funds Will Need to Provide Regulators with 11 New Data Sets in September
Following the publication of the new agreed template for the global collection of hedge fund data by the International Organisation of Securities Commissions’ (IOSCO) Technical Committee in February, the regulator has confirmed that these funds will have to start providing this data to national regulators at the end of September. Aimed at better monitoring risk…
SEC Seeking Market Feedback on XBRL Compliance Challenges
As part of its wider push to extend XBRL into other areas such as the tagging of source documents for mortgage backed securities (MBS) and corporate actions, the Securities and Exchange Commission (SEC) is currently taking stock of the challenges faced by the industry during XBRL implementation thus far. To this end, the US regulator…
Data Repositories are Focus of Ongoing European and US Regulatory Discussions
Recent letters between Michel Barnier, the European Commission’s internal market and services commissioner, and US Treasury secretary Timothy Geithner indicate that data sharing is very much at the top of the regulatory agenda at the moment, especially with regards to derivatives. The issue of trade data repositories is at the heart of the debate, as…
Swift’s Mansur and DTCC’s Hands Champion Global Use of XBRL for Corporate Actions, Pilot to be Launched by Year End
What is good for the US market, could also be good for the rest of the world, contended Max Mansur, global market manager for Asset Servicing at Swift, and David Hands, director of asset services product management at DTCC Solutions, when speaking about the benefits of XBRL for the corporate actions market. The work going…
Brace Co-author of the BGM Model Joins Numerix Quantitative Advisory Board
Numerix, a provider of cross-asset analytics for derivatives valuations and risk management, today announced that Alan Brace, co-developer of the BGM model, has joined the Numerix quantitative advisory board. Brace is a co-author of the Brace-Gatarek-Musiela (BGM) model, also known as the Libor market model (LMM), which was proposed in a paper “The market model…
Clearstream’s Mermigidis Calls for Drop Dead Deadline for Move to ISO 20022 for Corporate Actions
The benefits of moving to ISO 20022 appear to be clearly understood in the market by most, but many firms are now keen for Swift to provide a clear timeline for its adoption, including a drop dead deadline for the switchover from ISO 15022 formatted messages for corporate actions. Clearstream Banking’s senior vice president in…
US Federal Home Loan Banks Live on Principia Structured Finance Platform for 15 Years
Principia Partners, a solution provider for the management and administration of structured finance investments, today announced that the US Federal Home Loan Banks (FHLBanks) of Atlanta, Boston, Cincinnati, Des Moines and New York have now been successfully using the Principia Structured Finance Platform (Principia SFP) for 15 years. The five regional home loan banks, which…
Asia Keeping a Close Eye on Europe’s Corporate Actions Harmonisation Work, Says Standard Chartered’s Bone
The progress that is being made in Europe with regards to harmonising corporate actions processing is being closely monitored by the markets in the Asian region, according to Nicholas Bone, director of transaction banking sales for investors and intermediaries at Standard Chartered. A lot of progress has been made in countries such as Korea, Taiwan…
Issuers are at the Root of the Corporate Actions Standardisation Problem, Agree Banking Panellists
Banking participants at last week’s CorpActions 2010 conference in London agreed that regulations are needed in order to compel issuers to provide corporate actions data in the right format at the start of the process. Justin Chapman, global head of strategic implementation for Asset Servicing at Northern Trust, contended that mandatory data tagging of corporate…
ICAP Expands Global Enterprise Data Distribution via Thomson Reuters to Include Key Japanese Benchmark Data from TOTAN-ICAP
ICAP, interdealer broker today announced the expansion of ICAP’s global enterprise data distribution via Thomson Reuters to include key Japanese benchmark data from TOTAN-ICAP in Japan. This strategic market data initiative will enable Thomson Reuters customers to contract for additional enterprise application usage and internal distribution of TOTAN-ICAP Japan-based data sets including; FX, money market,…