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CESR Agrees with EFRAG Response to IASB Proposals: In Need of Serious Revision
Following its discussions earlier this year with the European Financial Reporting Advisory Group (EFRAG) around the International Accounting Standards Board’s (IASB) revisions of global accounting rules, the Committee of European Securities Regulators (CESR) has yet again stepped in to the fray to identify its own position on the changes. CESR states that it is in…
Morningstar to Acquire Chicago-based Logical Information Machines
Morningstar, a provider of independent investment research, today announced it has entered into a definitive agreement to acquire Logical Information Machines, (LIM), a provider of data and analytics for the energy, financial, and agriculture sectors, for US$51.5 million, subject to post-closing adjustments. LIM had revenue of approximately US$20 million for the last 12 months. The…
Wells Fargo Chooses SimCorp Dimension
SimCorp has announced that Wells Fargo Bank, a subsidiary of Wells Fargo & Co, which is the fourth largest financial services company in the United States by assets, has extended its usage of SimCorp Dimension. With Wells Fargo & Co’s acquisition of Wachovia Corporation in 2008, Wells Fargo was already benefitting from the installation of…
SunGard Enhances FastVal Independent Valuation Service
SunGard has released a new version of FastVal, its independent valuation service for vanilla cash and complex structured products and OTC derivatives. SunGard’s FastVal 3.0 provides financial institutions with transparency of the models and underlying market data used in the valuation, as well as enhanced Greeks, greater functionality in the running of intraday valuations, and…
Pricing Partners and Belatos Limited Team Up for Broad Distribution of Price-it Solution Suites in Asia
Pricing Partners has established a distribution agreement with a new partner, Belatos Limited. The distributor will deliver Pricing Partners’ full solution suites throughout the entire Asia Pacific region. First line support will be provided out of Belatos’ Hong Kong office. The promising Asian market is growing at a high rate. Independent valuation services and tools…
Costs and Corporate Actions Top the List of Concerns for Aim Software and Interactive Data Survey Respondents
The high cost involved in the processing of reference data is the main driver this year behind investment in technology in the data management space, according to the results of 2009’s annual survey by Aim Software and Interactive Data. This focus is unsurprising, given the intense budget cutting that has been characteristic of the post-crisis…
Reval’s Okochi Appointed to CFTC Global Markets Advisory Committee
Jiro Okochi, chief executive officer and co-founder of Reval, a global derivative risk management and hedge accounting solutions provider to over 375 publicly traded companies, was voted a member of the Global Markets Advisory Committee (GMAC) by the five members of the Commodity Futures Trading Commission (CFTC). Okochi will participate in the next meeting of…
SEC Launches New XBRL Website to Speed Compliance with New Data Requirements
There can be no doubt that XBRL is big news in the US with regards to financial reporting and investor and issuer communications. The decision to mandate the use of XBRL tagging for public company statements by the Securities and Exchange Commission (SEC) this year raised its profile and the regulator has this month added…
DST Global Solutions Poaches Hogan from HCL, McKenna from Temenos and Lord from Thomson Reuters
Adding to its catalogue of new hires this year so far, investment management solution vendor DST Global Solutions has poached three new executive team members from vendor rivals to add to its Investment Management Solutions business. The vendor has hired ex-HCL Technologies executive Philip Hogan, ex-Temenos marketing director Peter McKenna and ex-Thomson Reuters data executive…
RiskVal Opens Taiwan Office For Follow the Sun Support, Development
RiskVal Financial Solutions, a provider of fixed income and structured credit trading and risk management platforms, has opened a permanent office in Asia. The new office in Taipei, Taiwan will enhance 24 hour support operations for RiskVal products, as well as adding additional software development resources. “RiskVal is pleased to provide follow the sun support…