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ECB’s Planned Reference Data Utility is Both Desirable and Plausible, Says EDM Council’s Atkin
Earlier this year, the European Central Bank (ECB) indicated it is seriously considering getting into the reference data world via the establishment of a securities reference data utility. Since the announcement, the idea of a central bank led utility has proved to be a divisive subject for many. However, as Mike Atkin, managing director of…
Tradition Partners with NYSE Euronext’s Prime Source for End of Day Pricing
Tradition, an interdealer broker, has formed a partnership with Prime Source, whereby Tradition will provide end of day pricing of a range of financial products to Prime Source, a NYSE Euronext company. The Prime Source service allows users to access prices and evaluations from different sources, including markets, dealer contributions and valuation models designed to…
Large French Bank Opts for Pricing Partner’s Price-it Online
A large French bank has selected Pricing Partner’s online platform Price-it online to double value its interest rate, equity, credit and inflation derivative products. This bank, which wished to remain anonymous, decided to innovate in terms of transparency and proximity with its clients by offering access to an independent valuation on its OTC derivative products….
Prytania Investment Advisors Appoints CMA DataVision for CDS Pricing
Prytania Investment Advisors (PIA), a London-based asset manager and risk advisory firm, has appointed CMA to provide independent pricing, risk metrics and group curves via DataVision for single name credit default swaps (CDS) and indices. Mark Hale, chief investment officer at PIA, says: “We looked at a number of pricing vendors to support activities in…
Buy Side Firms Must Take Heed of the Scale of the Changes Required as a Result of the OSI, Say TowerGroup and Capco
The buy side must understand and appreciate the urgency of preparing adequately for the incoming Options Symbology Initiative (OSI), said speakers during Capco’s recent webinar on the subject. The move to the Options Clearing Corporation’s (OCC) 21 character OSI code in order to support non-standard options will impact every level of a firm’s operations, warned…
IASB Proposes Overhaul of Fair Value Accounting Rules
It has been a year of significant changes to the way assets are valued and it seems that more are still to come. This week the International Accounting Standards Board (IASB) released its long awaited proposals for a revamp of the often controversial fair value accounting rules. The IASB’s proposals are, in fact, four months…
CESR Calls for Mandatory Trade Transparency Regime for Non-equity Markets
The Committee of European Securities Regulators (CESR) has called for the introduction of a new transparency regime for non-equity markets. The regulator is concerned that market led initiatives have failed to gain significant traction in the corporate bond, structured finance product and credit derivatives markets and is keen for a greater level of visibility to…
Formal Working Groups Needed to Tackle Downstream Data Issues, Say Majority of Readers
Interoperability and integration between downstream systems and centralised data management systems has been an issue for some time and last year’s events have brought it into the spotlight. According to the results of our latest Reference Data Review reader poll it is not just the regulators that are concerned about this area, a lot of…
Hungary’s Wallis Group Opts for SuperDerivatives’ FX Derivatives Valuations
The Wallis Group, one of Hungary’s largest holdings companies, has selected SuperDerivatives to improve its ability to hedge cross border currency exposures and to access independent portfolio valuation for auditing purposes. The Wallis Group, which specialises in investment, consulting and asset management, is a multinational company and needed access to accurate, independent pricing for FX…
AG Insurance Selects Pricing Partners for Structured Products Valuations
AG Insurance, which was formerly Fortis Insurance Belgium, has chosen the Pricing Partners service to perform independent valuation for some of its equity, funds and interest rates structured products. “We wanted to challenge and double check the valuation provided by our counterparties for our OTC products. We were also interested in developing more expertise to…