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Credit Crunch Pushes Industry Mood in Favour of Third Party Valuations, OTC Val’s Blance Believes
The credit crunch may have put pressure on spending decisions by financial institutions, but the need for external sources of evaluated prices, particularly for asset backed securities, has been “starkly portrayed”, and the “mood is definitely swinging in favour” of making greater use of third party sources, believes Ian Blance, who recently joined derivatives specialist…
EDI Adds Structured Products to Corporate Actions Database
Exchange Data International (EDI), a specialist in the aggregation of reference and corporate actions data, has integrated structured products into its corporate actions database and Security Reference File services. Thus far EDI has integrated the following instruments into its database: Close Ended Funds, Investment/Income Trusts or Listed Investment Companies, Exchange Traded Funds, Principal Protected Notes,…
BNY Mellon Asset Servicing Goes Live on ValueLink OTC Service
UK-based ValueLink has extended its provision of data services to BNY Mellon Asset Servicing to include OTC counterparty price collection and data reporting. The service for BNY Mellon, which ValueLink has been providing since the first week of December 2007, following extensive testing, is similar to that which the vendor has been providing to BNP…
Markit to Launch Multi-Dealer Valuations Platform
UK market data vendor Markit Group is working with six Wall Street banks to launch a global, multi-bank, cross-asset client valuations platform. The Markit Valuations Manager platform will provide electronic delivery of daily OTC derivative and consensus cash valuations from Citi, Credit Suisse, Goldman Sachs, JPMorgan, Merrill Lynch and UBS alongside Markit’s own independent valuations….
CRIS Consortium to Provide Platform for Independent Valuation, Risk Management of Credit Derivatives
A consortium comprising Zeliade Systems, OTC-Conseil, JPLC, Dexia CL, Evry University and Microsoft France and dubbed CRIS (Credit Risk Services) plans to develop a platform for independent valuation and risk management of credit derivatives. The consortium will have its first test client in the second part of the year and there will be ongoing developments…
LakeFront Adds Ian Mathers as Associate Partner
LakeFront Data Ventures (LDV) says Ian Mathers has joined the LDV Data Management Partner Program as a LakeFront associate partner. He will be concentrating his efforts on project management and implementation and process engineering and improvement. Mathers was most recently with Royal Bank of Canada and prior to that, he led the Project Management Improvement…
FISD Releases MDDL Open Source Licence in Further Bid to Encourage Take-Up
The Financial Information Services Division (FISD) of the Software and Information Industry Association has released a new MDDL 3.0 Open Source licence for the financial information industry. MDDL, or Market Data Definition Language, is an open industry standard XML dialect for securities market data. The announcement of the new licence aims to remove possible ambiguity…
Asset Control Adds Telekurs VDF Content to Centralised Data Management Solution
Asset Control has expanded its global data coverage by adding Telekurs Valdordata Feed (VDF) content to its centralised reference and financial data management solution. Several clients have already licensed the new capability and are in the process of implementing it, the vendor says. VDF provides reference data, corporate actions information and price data on more…
NYSE Euronext Unveils Independent Valuation Service Prime Source
NYSE Euronext (NYX) has launched Prime Source, a new independent valuation service. This solution is designed to meet professional buy side market participants’ needs for valuation of large, global portfolios of complex structured products and illiquid securities. Prime Source enables users to access prices and valuations from different sources, including markets, dealer contributions and valuation…
Lombard Risk Sells Independent Valuation and Risk Services Subsidiary to Liffe
Lombard Risk Management, provider of regulatory, risk management and valuation software for the financial sector, has sold its wholly owned subsidiary Independent Valuation and Risk Services (IVRS) to Liffe (Holdings), the subsidiary of NYSE Euronext, for a consideration of some £700,000 plus a deferred consideration element to be calculated based on actual revenues that are…