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IASB Trustees Urge G20 to Preserve Fair Value Accounting Rules
Prior to the talks of the G20 at the weekend, the trustees of the International Accounting Standards Board’s (IASB) oversight body urged leaders to preserve fair value accounting rules. In a letter to summit host and outgoing US president George Bush, trustee chairman Gerrit Zalm indicated that snap decisions should not be taken regarding fair…
Sifma’s Ryan Urges US Treasury to Focus on Price Transparency for Tarp
Originally appeared in MiFID Monitor Tim Ryan, president and CEO of the Securities Industry and Financial Markets Association (Sifma), has called for the US Treasury to focus on the creation of price discovery through some type of transparent purchase programme as part of the Troubled Asset Relief Program (Tarp). Following last week’s discussions with US…
Prism Valuation to Use Icap as Main Underlying Source of OTC Information
Interdealer broker Icap and Prism Valuation have finalised an agreement that will allow the valuations provider to use Icap data as the main underlying source of OTC information for its services. Although financial terms of the deal have not been disclosed, Icap has also become a minority shareholder in the vendor. The data agreement between…
LakeFrontData Consulting Adds EDM Capability Assessments and Managed Data Service Vendor Evaluations Services
Following the launch of its jobs website last week, LakeFrontData Consulting has added two new data management consulting services to its consultancy services offering. The firm has created enterprise data management (EDM) capability assessments and managed data service vendor evaluations, which it says are aimed at providing clients with a holistic view of their requirements….
Credit Crunch is Likely to Drive Institutions to Offshoring or Outsourcing, Says Northern Trust’s Davis
The current market climate has meant that institutions are under serious pressure to cut costs and improve operational efficiency and this may mean they decide to go the outsourcing route, said Liam Davis, vice president of global data management at Northern Trust. “We need to do more with less and provide a higher level of…
DerivActiv Offers 12 Month Swap Payment Cashflow Verification Report to New Customers Free of Charge
Derivatives valuations provider DerivActiv has indicated that it will provide a free 12 month swap payment cashflow verification report to all new customers. The vendor says that this is part of its drive to encourage firms to ensure their swap payments are calculated correctly so that accurate tax compliance calculations can be made, as well…
Technology Investment Essential to Cope with Corporate Events Rapid Growth
With the explosive growth in corporate events – primarily due to the current restructuring of debt or refinancing – those financial institutions that have invested in technology and integrated data sets will be the best placed to cope with the increase in volumes, according to David Kane, senior vice president of securities and operations at…
ECB Has Potential to Deliver Issuer Prospectus Data Direct to Market, Suggests ECB’s Gross
Rather than going through a complex chain of interpretation by data vendors and internal processes, prospectus data should be made available in an electronic format directly to the market, suggested Francis Gross, head of the external statistics division at the European Central Bank (ECB). “This would require drastic changes to the current prospectus process and…
Keeping a Team Onshore to Monitor Data Quality is Key, Agrees Offshoring and Outsourcing Panel
Institutions should keep a small team of data experts on board in order to adequately monitor that service level agreements are being met by outsourcing providers and data requirements are being catered to by offshore teams, agreed FIMA 2008’s panel on offshoring and outsourcing. Susan Outzen, business relationship manager in the enterprise data management (EDM)…
Netik’s Hale Says Fear Rather Than Greed Driving Institutions to Invest in Data Management
Keith Hale, executive vice president and co-founder of Netik, opened the second day of FIMA 2008 by quoting Warren Buffet in a data management context: “Financial markets are either driven by greed or fear, according to Warren Buffet, and it seems that recent times have flipped the driver from greed to fear. This fear is…