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Help Out There for Asset Managers Struggling to Price OTC Derivatives, But Outsourcing No Silver Bullet
One of the many operational challenges faced by fund managers as they invest more in OTC derivatives is accurately valuing portfolios containing hard to price instruments, but the good news is that “there’s a lot of experience out there” for firms to tap into, delegates at the recent Optimising OTC Derivative Operations in Fund Management…
Central Instrument Model, Compliance with ISO 19312 Key in MDDL 3.0, But Does the Market Really Want it?
Version 3.0 of MDDL (Market Data Definition Language) is now available, but the jury’s out on whether the latest iteration of the XML dialect for securities market data will be greeted with any greater degree of enthusiasm by the market than its predecessors. GoldenSource – historically a strong advocate of the standard – has not…
Firms Will Spend $1.67 Billion on EDM in 2007, Aite Finds, But Most Don’t Plan to Hire Chief Data Officers
Enterprise data management (EDM) initiatives will account for $1.67 billion of spending by financial services firms in 2007, driven in the US by securities reference data challenges and data silos, and in Europe by the requirement to control client and counterparty data to comply with regulation such as MiFID and Basel II. So says analyst…
GoldenSource Hires Gallagher for Sales, Edelstein for Product Role
GoldenSource has bolstered its ranks with the hire of two new senior executives. Ed Gallagher joins as senior vice president, head of sales and client operations for the Americas, and Neil Edelstein is the vendor’s new senior director of product solutions. Gallagher was most recently president and CEO of independent research provider Rapid Ratings, and…
Tim Lind Leaves GoldenSource for Strategy Role at Omgeo, Sees Opportunities to Partner Swift on SSIs
Tim Lind has parted ways with enterprise data management specialist GoldenSource for pastures new at Thomson Financial/DTCC-owned post-trade, pre-settlement solutions provider Omgeo. As Omgeo’s new managing director, strategic planning, Lind reports directly to president and CEO Marianne Brown, and is also a member of Omgeo’s executive team. Lind’s move must be viewed as something of…
Capco and Lombardi Team to Provide Best of Breed BPM Offering, Capco Seeks Further Ref Data Partner
Capco and Lombardi , provider of business process management (BPM) suite software and services, have joined forces to strategically market and sell the Teamworks BPM suite as part of Capco’s Client Profile Management (CPM) solution. According to Nick Jackson, partner at Capco, there are many drivers for delivering the joint offering – client demands, regulatory…
Loomis, Sayles & Company Implements CheckFree eVent For CA Announcement Capture from Custodians, Vendors
Boston-headquartered investment manager Loomis, Sayles & Company is automating its corporate actions processing with CheckFree eVent. The firm, predominantly a fixed income house with some $105 billion in assets under management, is already a user of CheckFree TradeFlow for settlement instruction processing of cash securities and FX. Loomis is currently in beta testing for the…
Association of Global Custodians Calls for Issuers to Join the ISO Party, Urges Members to Adopt ISO15022
The custodial bank community has often been blamed for ongoing inefficiencies in corporate actions processing as a result of supposed reluctance among custodians to adopt standardised messaging. The allegation has been that they would prefer asset managers to communicate with them via proprietary mechanisms, rather than using standardised ISO 15022 messages for corporate actions. Now…
Strategic Evolution of Reference Data Well Under Way, Data Management Attracting Board Level Attention
Proof of the long-predicted evolution of reference data management into a strategic concern for financial institutions comes this month in a new A-Team research paper commissioned by SunGard Data Management Solutions. The research, the result of a Buyer Persona Study carried out by A-Team Group during Spring 2007, finds that the strategic evolution of reference…
Avox Signs Up Nomura International
Deutsche Boerse-owned counterparty data specialist Avox has added Nomura International to its roster of clients, where it joins the likes of Citigroup, Dresdner Kleinwort, Barclays Capital, Bank of Scotland and Standard Bank. Nomura International also entered into a three-year deal with Avox competitor CounterpartyLink last year (Reference Data Review, October 2006).