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ITG Selects GBST Syn~ for European Installation of Model-based, Back Office Settlement and Corporate Actions Processing
GBST, a global provider of technology solutions to the financial services industry, today announced that Investment Technology Group (ITG), one of the world’s leading agency brokerage and financial technology providers has selected GBST Syn~ for its back office processing requirements in Europe. Syn~ will provide real-time responsiveness for back office processing and mitigate the risk…
Knight Selects Fidelity ActionsXchange to Provide Corporate Actions Intelligence
Fidelity ActionsXchange, a provider of global corporate actions solutions, today announced that Knight Clearing Services, a subsidiary of Knight Capital Group, has selected its ActionService platform to provide corporate actions information, such as corporate reorganisations, restructuring and mergers, to support the firm’s equity trading operation. ActionsXchange is a wholly-owned subsidiary of Fidelity Investments and provides…
Incisive Capital Management Selects Pricing Partners’ Price-it Excel for its Inflation Derivatives Business
Pricing Partners has announced that Incisive Capital Management, the Dublin based investment management firm, has selected Price-It Excel to price and risk manage its inflation linked business. Pricing Partners’ flagship software, Price-It Excel, authorises Excel to price and value with a generic and intuitive language and cashflow, allowing the description of virtually any product. Featured…
A Third of Hedge Funds Have Invested in Automation to Improve Pricing, According to Omgeo Survey
A third of the 50 hedge funds involved in a recent survey commissioned by Omgeo and conducted by Greenwich Associates have invested in improving their valuations and accounting systems, with many more focused on reducing counterparty risk. The fallout from the financial crisis and the intense regulatory and client scrutiny of the hedge funds market…
Interactive Data Achieves Full-Year 2009 Targets for Revenue, Income from Operations and Net Income
Interactive Data Corporation today reported its financial results for the fourth quarter and full year ended December 31, 2009. Interactive Data’s fourth-quarter 2009 revenue of $194.1 million was unchanged from the fourth quarter of 2008. Income from operations in the fourth quarter of 2009 was $50.4 million, an 11.7% decrease from $57.1 million in the…
Financial Institutions Call for Collaborative Action with Regulatory Support to Develop Missing Reference Data
The aforementioned two-day conference on reference data management for the banking industry has revealed major gaps in the industry’s ability to meet the tsunami of regulatory requirements. Officials from the European Central Bank, Committee of European Securities Regulators, JWG, the regulatory think-tank, and over 20 bankers discussed today’s reference data challenges and explored the industry’s…
Luzerner Kantonalbank Upgrades to GFI Group’s FENICS Professional
GFI Group Inc. announced today that Luzerner Kantonalbank is deploying FENICS Professional which enables the bank access to FENICS Structuring and FENICS Enterprise. A GFI FENICS client since 2006, Luzerner Kantonalbank is extending its agreement for a further 3 years and will continue to use GFI Professional for FX options price discovery, portfolio management and…
Does the Industry Want or Need a New Data Standards Body or Data Tsar?
Last week’s reference data conference in London threw up a few interesting ideas with regards to leading the charge for reference data standardisation in the market, not least of which was the creation of a new standards focused body. In addition to a senior level data representative on the board of every financial institution, speakers…
Corporate Actions Data Increasing in Complexity and Frequency, Says BNY Mellon’s Cox
The innovation in the market and the high degree of corporate restructuring going on across industries at the moment has meant corporate actions have become more frequent and much more complex, says Matthew Cox, head of securities data management in EMEA for BNY Mellon Asset Servicing. This, in turn, has meant that banks are being…
UBS, HSBC, BNY Mellon and RBS All Engaged in a Degree of Labour and Technology Arbitrage
The upshot of many of the discussions at last week’s reference data conference in London, organised by Marcus Evans, was that many firms are currently engaged in a degree of labour and technology arbitrage. Not only are banks negotiating with their vendors around contracts for data feeds and price points for particular solutions, but they…