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Systematic Internalisation Under MiFID II: What’s Needed Now
From September 1, 2018, firms within the scope of MiFID II that breach volume thresholds set by ESMA on August 1, 2018 for internal matching of client orders will be required to register as systematic internalisers (SIs) and operate within the SI regime detailed in the regulation. Sounds pretty straightforward, but that is far from…
Preparing for MiFID II Data Requirements
Markets in Financial Instruments Directive II (MiFID II) is a wide-ranging regulation that aims to add transparency to Europe’s financial services sector in order to ensure investor protection and integrity of markets. The regulation extends the scope of MiFID, which focused on equities, to cover pre-trade, trade and post-trade activities across many asset classes. This…
Applying Open Data Principles to Financial Data Governance
To ensure sound data governance, an enterprise needs a centralised framework for understanding all data, typically an online data catalogue that lists data sources and the metadata that describes data characteristics and provenance. With a data catalogue in place, data quality and data management can then be addressed. Getting started on data governance can be…
Meeting the Complex Data Management Challenges of Shareholding Disclosures
Getting shareholder disclosure right has become a priority for financial institutions that are already required to monitor breaches of ownership thresholds that are used to protect sensitive industries, but must also comply with the EU Transparency Directive Amending Directive (TDAD). The directive came into effect in November 2015 and requires firms to analyse holdings of…
Deriving True Business Value from the Global LEI
The Legal Entity Identifier (LEI) – the free-to-use entity identifier – has established itself as a viable standard for helping financial institutions identify unique business entities that are parties to financial transactions. But it’s widely accepted to have its limitations. In particular, a lack of standardization and ability to link to associated data sets is…
Building the Business Case for Joining the Reference Data Utility
The benefits of joining a reference data management utility include the ability to improve data quality, simplify complex data management infrastructures, meet constantly expanding and changing regulatory requirements, and realise significant reductions in operating costs. This White Paper, sponsored by SmartStream, describes four business cases that can be addressed by adopting a utility-based approach to…
Entity Data Quality: New Approaches and the Four Categories of Data Quality Management
Legal entity data is critical to data strategy, business decisions and regulatory compliance, but it can be a challenge to ensure the data is accurate and reliable as the entity universe is large, millions of attributes change every year and inconsistent codes and symbologies identifying entities, corporate hierarchies and ultimate beneficial owners must be managed….
The Reference Data Utility: How Goldman Sachs, JPMorgan Chase & Co and Morgan Stanley are breaking the reference data mold
The Reference Data Utility (RDU) built by SmartStream and backed by Goldman Sachs, JPMorgan Chase & Co, and Morgan Stanley is up and running and ready to deliver reference data management services to the banks. The concept of multi-tenant data utilities is not new, but none have achieved buy-in at the level of the RDU,…
Solvency II How Insurers, Asset Managers and Asset Servicers are Meeting the Data Challenge
The EU’s Solvency II regulation is due to come into effect in January 2016. Aimed at ensuring the insurance industry fully understands the risks associated with its investments, the regulation places great emphasis on access to highly granular valuations and risk information. For most insurers, this is the first time they have been required to…
Do You Know How Regulation Is Impacting Structured Notes?
Deconstructing Structured Notes Valuation, Risk Management & Compliance Best Practices Sweeping new global financial regulations are changing the way financial firms perform valuations. Regulations call for robust and transparent asset and liability assessments, and for detailed insight into the real value and risk exposures in portfolios. In this report, Jayme Fagas, global head of valuations…