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CESR Releases Statement Regarding Instrument Reclassification for Fair Value Accounting
Originally appeared in MiFID Monitor Following a request by the European Commission last October, the Committee of European Securities Regulators (CESR) has released a statement regarding the reclassification of financial instruments for fair value accounting. The regulatory body has worked in cooperation with the International Accounting Standards Board (IASB) to tackle the issues identified by…
Thomson Reuters’ Ex-EDM Head Barr Moves to Switzerland to Markets Role
Following a year of restructuring, the dust is in the process of settling for the various divisions of Thomson Reuters. It appears that as well as a number of exits, there have been a fair few significant reshuffles. One such move is the transfer of Gary Barr, Reuters’ ex-global head of EDM, from the US…
SEC Continues Defence of Fair Value Accounting Standards
The Securities and Exchange Commission (SEC) again defended its decision to retain fair value accounting standards on 30 December, following further calls from the banking community to suspend the contentious rules. The regulator has previously stated that it will be focused on improving rather than suspending the rules. “Fair-value accounting did not appear to play…
Reval Adds Four to Hedge Accounting Staff in Asia Pacific
Reval, a provider of risk management solutions and services, has expanded its Asia Pacific operations via the hiring of four hedge accounting professionals. Accordingly, Reval has added Blaik Wilson, George Chapman, Bevan Webster and Abhishek Maiti to its regional operations. The vendor, which has operations in Australia, New Zealand and India, indicates that the appointments…
Markit Revises Pricing Consolidation Rules for Markit iBoxx Indices
Markit has indicated that it is implementing changes to the rules governing the consolidation of prices for its iBoxx indices. According to the vendor, these changes are aimed at improving the pricing in illiquid and volatile markets. The Markit iBoxx EUR and Sterling cash bond indices are used by asset managers as a benchmark for…
SEC Confirms US Companies Required to File Financial Reports Using XBRL in 2009
Originally appeared in MiFID Monitor The US Securities and Exchange Commission (SEC) has confirmed that from mid-next year large public corporations and mutual fund companies will be required to submit their financial reports in extensible business reporting language (XBRL). The move, which was initially proposed in May, is aimed at making it easier for investors…
Euroclear Receives Approval for Creation of New Set of ISO 20022 Messages
Euroclear has received approval from the ISO 20022 registration bodies for the creation of a new set of ISO 20022 messages to be used throughout the global capital markets. According to the firm, it is the first set of approved ISO 20022 messages developed by an organisation operating in the securities industry other than Swift….
FTSE Group Goes Live on XSP v5 Corporate Actions Platform in New York
Following its implementation in London earlier this year, FTSE Group has gone live with the XSP v5 Corporate Actions platform in New York. The implementation is part of FTSE’s initiative to achieve an automated STP environment for the management of corporate action events applied to FTSE indices, explains Chris Broad, chief operating officer at FTSE…
FASB and IASB Begin Review of Mark to Market Principles
The Financial Accounting Standards Board (FASB) has indicated it is beginning a review of mark to market accounting rules in cooperation with the International Accounting Standards Board (IASB). The board is said to be considering extending current mark to market principles to a much broader range of securities than they currently cover by taking a…
OTC Val Adds Valuation Capabilities for Hard to Value MBS and ABS Securities
OTC Valuations (OTC Val) has increased its valuation capabilities of illiquid mortgage backed securities, commercial paper, collateralised debt obligations, and other asset backed products. Bob Sangha, managing director at the vendor, explains that as well as providing a price, OTC Val is also focused on providing data on the modelling behind the price for these…