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Knight Capital Enters CDS Clearing Counterparty Race
Knight Capital Group is the latest contender in the credit default swap (CDS) clearing counterparty race, joining players such as CME Group and Eurex. The brokerage and asset management firm says its NetDelta electronic settlement platform has been in development for over a year. The platform is available to both the buy side and the…
Interactive Data Says Q3 2008 Revenues to Increase by 7.7% on Last Year, But Net Income Down by 7.1%
Interactive Data Corporation says that it expects its third quarter revenues to be approximately US$188.6 million, which would represent a 7.7% increase over third-quarter 2007 revenue of US$175.0 million. However, according to its preliminary financial results for the third quarter ended 30 September 2008, net income will be down 7.1% on last year’s results to…
Standards: Speaking the Same Language Worldwide By Frank Träxler, international sales manager, WM Datenservice
Due to the increasing complexity of its fields of activity and the relevant regulatory framework, the financial industry is faced with ever greater challenges in managing its systems, processes, data and information. The international environment, subject to diverse regulations (for example, EU Prospectus Directive, EU Savings Tax Directive, EU Transparency Directive, and MiFID), is fraught…
DTCC’s Donahue Joins XBRL US Board of Directors
Following the agreement between XBRL and the Depository Trust & Clearing Corporation (DTCC) earlier in the year to cooperate on corporate actions standards, Donald Donahue, chairman and CEO of DTCC, has joined XBRL US’s board of directors. XBRL US, the non-profit consortium for XML business reporting standards in the North American marketplace, says that DTCC…
Quantifi Releases Version 9.1 with New Models for Pricing CDOs
Quantifi, a provider of analytics and risk management solutions to the global credit markets, has released version 9.1 of its software, which it says is aimed at allowing customers to more closely track the market. The updated version includes new models for pricing collateralised debt obligations (CDOs) and a flexible interface that enables users to…
US-based Bank Picks SmartStream TLM Corporate Actions
An unspecified US-based banking institution has selected SmartStream Technologies’ Transaction Lifecycle Management (TLM) Corporate Actions solution to create a global utility for corporate actions processing. According to the vendor, the bank is already an existing SmartStream TLM customer and will use TLM Corporate Actions for its global wealth management and institutional business units. At the…
Eurex Clearing Releases Details for its Credit Derivatives Clearing Solution
Originally appeared in MiFID Monitor Following the announcements by players such as CME and ICE last week, Eurex Clearing has finally revealed more details about its planned central clearing solution for credit derivatives. According to Eurex, the Deutsche Bundesbank has indicated its support for a European central clearing solution for OTC credit derivatives that will…
Interactive Data Adds More Data to Probate Valuation Service
Interactive Data Corporation’s Pricing and Reference Data business has enhanced its Probate Valuation service by adding valuations for new instruments including hard to price securities. According to the vendor, the service now offers valuations for more than six million global listed securities and funds, as well as unit trusts, and takes into account undistributed dividends…
ICE and Clearing Corporation Provide Details of CDS Clearing Platform Plans
Originally appeared in MiFID Monitor Following last week’s announcement by CME Group and Citadel Investment Group about their clearing house joint venture, IntercontinentalExchange (ICE) and bank and broker consortium backed Clearing Corporation have released the details of their planned joint venture in the credit default swap (CDS) clearing space. The joint venture has been dubbed…
Vermeg Receives SwiftReady Label for Megacor
Vermeg has received the 2008 SwiftReady label for its corporate actions solution, Megacor, for the sixth year in a row. The label denotes that Swift has deemed the solution in compliance with local standards and practices, following a testing process, according to Hervé Valentin, business development manager, partner management at Swift. Valentin adds: “Earlier this…