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Omgeo Appoints Coughlan, Higgins and Meenaghan for European Product Support Roles
Post-trade specialist Omgeo has appointed three new executives its European product team: State Street’s Bill Meenaghan and Janet Coughlan and Steve Higgins, both from UBS. Coughlan is now in charge of strategic initiatives for the vendor’s web-based global database for the maintenance and communication of standing settlement and account instructions (SSIs), Omgeo Alert. Higgins and…
ABA Calls for Further Changes to FASB Guidelines Around Held to Maturity Securities
Following the publication of the Financial Accounting Standards Board’s (FASB) final guidelines for mark to market accounting and impairment earlier this week, the American Bankers Association (ABA) has raised concerns about the need for clarification around securities classified as “held to maturity”. Although the association commends the work that has been done by the FASB,…
EDI and DPC Sign Marketing Agreement for Bond Reference and Corporate Actions Data
Corporate actions data vendor Exchange Data International (EDI) and DPC Data, a data publishing and business process outsourcing company, have signed a joint marketing agreement, under which both vendors will provide their respective user bases with access to their data offerings. David Moore, EDI fixed income manager, explains that the vendor reckons the combination of…
Rising Costs of Corporate Actions Processing Means Firms Must Move to ISO 20022, Says Aite Group
The industry still has a long way to go towards achieving automation in the corporate actions space, says Phillip Silitschanu, senior analyst with Aite Group and author of its recent report into corporate actions standards. “While I knew from personal experience just how ‘manual’ corporate actions processing can be, I was quite surprised how some…
FASB to Vote on Controversial Fair Value Proposals on 2 April
Following the heavy criticism that has been levelled at the Financial Accounting Standards Board (FASB) for its failure to act on issues with fair value accounting standards, the industry body has indicated that it is now preparing for the final vote on its proposals, which were announced on 16 March. The FASB will be carrying…
IndusInd Bank of India Opts for SuperDerivatives for Valuations
IndusInd Bank of India is deploying SuperDerivatives’ multi-asset derivatives pricing service. The implementation is aimed at helping it to provide rich and integrated services to clients, shorten time-to-market of new products and monitor client’s credit risk. The deployment will initially include SuperDerivatives’ interest-rate and foreign exchange modules. IndusInd Bank will use SuperDerivatives’ solution to give…
Pricing Partners Talks up Jump Diffusion Models at MathFinance Conference
Valuations provider Pricing Partners told delegates to this month’s MathFinance Conference in Germany about its recent work towards achieving smart expansion and fast calibration for jump diffusion models. The vendor promoted its recent work on approximation methods using its smart expansion method to calibrate jump diffusion models to attendees to the quantitative finance event last…
Quantifi Releases New Version of Solution for North American CDS Changes
Following recent upgrades by its competition, analytics and risk management solution vendor Quantifi has released a new version of its solution to support the impending changes to the North American credit default swap (CDS) market. Rohan Douglas, CEO of the vendor, explains that Version 9.1.4 of its solution has been released to support the new…
Reval Opens Hong Kong Office, Appoints Marsden as Sales Director for Asia
Risk management solutions and valuations provider Reval has opened a new office in Hong Kong and appointed ex-Mergermarket sales head Will Marsden as its new sales director for Asia. The vendor, which currently has offices in Australia, New Zealand and India, hopes the new office will help it to expand its client reach further in…
MFC Global Investment Management Selects Thomson Reuters’ Portia for Recordkeeping
The asset management arm of Canadian-based financial services group Manulife Financial, MFC Global Investment Management, has selected Thomson Reuters’ Portia for its investment recordkeeping requirements. The firm signed the multi-million dollar deal with a view to introducing a single book of record for the public asset component of its investment management business, says said Jacqui…