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DerivActiv Expands Services to Cover FAS 157 Reporting Requirements
DerivActiv, a provider of independent derivatives valuations, has expanded its services to include non-performance risk adjusted valuations for FAS 157 reporting of derivative products. The vendor explains that it has developed a proprietary procedure to evaluate non-performance risk and adjust mid-market values to comply with the fair value reporting requirements. According to the vendor, its…
PolarLake Joins EDM Council, as Focus on Practical Implementation Intensifies
PolarLake has joined the Enterprise Data Management (EDM) Council, the not for profit business forum for financial institutions involved in the EDM business. John Randles, CEO PolarLake, explains that the vendor has been keeping an eye on the activities of the group for some time but feels the time is now right to join. “We…
Nelson Departs Thomson Reuters for BNP Paribas Securities Services
Barnaby Nelson, who was most recently a business owner at Reuters Pricing and Data, has been appointed head of business development for Asia for BNP Paribas Securities Services. He will continue to be based in Hong Kong and report to Margaret Harwood-Jones globally and locally to Bruno Campenon as head of BNP Paribas Securities Services,…
ICE to Acquire Clearing Corporation, Strengthens OTC Derivatives Coverage
Following the announcement earlier in the month that IntercontinentalExchange (ICE) would be partnering with the Clearing Corporation (TCC) for its venture into credit derivatives clearing, the exchange operator has announced its intention to acquire the firm. ICE chairman and CEO Jeffrey Sprecher explains that the acquisition is part of ICE’s commitment to developing a market…
Fair Value Accounting Debate Continues in US House of Representatives
The ongoing debate about mark-to-market accounting has taken another turn, as the chairman of the US House of Representatives Financial Services Committee, Barney Frank, suggested earlier this week that the industry needs more flexibility in the area of valuations. He told the meeting that he currently has no plans to legislate accounting practices or to…
Standard & Poor’s Adds More Data to SecurityMaster Services Platform
Standard & Poor’s SecurityMaster Services, a web services delivery platform that provides direct access to a variety of securities data, has added access to three new reference data databases: the ISIDPlus global cross reference database, Cusip Syndicated Loan Service and the Anna Service Bureau’s ISIN database. The vendor has added this new data to the…
American Bankers Association and SEC Discuss Fair Value Accounting
The American Bankers Association (ABA) is currently engaged in discussions with the Securities and Exchange Commission (SEC) regarding fair value accounting under the current market conditions. The two bodies are conducting the talks during two scheduled roundtable discussions this week. Aubrey Patterson and Randy Ferrell, both representatives from the ABA, have voiced concerns over the…
Asset Control Launches Upgraded Front End for AC Plus to Enhance Speed and Efficiency
Asset Control has launched an upgraded front end for its AC Plus financial and reference data management software solution, which it says enhances the speed and operational efficiency of the desktop interface. Rick Enfield, product business owner, Asset Control, explains that the core development process of AC Plus Desktop 3.0 took 15 months. “Organisations are…
TSE and Markit Sign Cooperation Agreement for Potential Valuations JV
Tokyo Stock Exchange Group (TSE Group) and Markit Group have signed a cooperation agreement, under which the two parties will work together to examine the feasibility of potential business alliances for areas including valuations and indices. The memorandum of understanding, which was signed on 28 October, includes the foundations for the establishment of a joint…
NumeriX Releases Version 7.2 of its Solution, Expands Model Coverage
NumeriX has upgraded the platform underlying its solutions by introducing new functionality and greater model coverage. According to the provider of cross asset analytics for derivatives and structured products, NumeriX 7.2 includes additional capabilities for all asset classes covered and new models and functions for credit, inflation and hybrid derivative products. The new NumeriX 7.2…