Data Management Insight Entity Data, KYC and Client Onboarding The latest content from across the platform
Markit Launches Counterparty/Compliance Documentation Library
Data, portfolio valuations and OTC derivatives trade processing vendor Markit has launched a new documentation library that allows financial institutions to post, manage and share compliance, counterparty credit and regulatory documents securely. Called Markit Document Exchange, the new service automates KYC, anti-money laundering and compliance certification processes in order to reduce risk and lower operational…
SEC to Mandate Adoption of XBRL Financial Reporting For Large Publicly Listed US Firms
The Securities and Exchange Commission (SEC) has issued rules requiring large publicly held US companies to adopt extensible business reporting language (XBRL) for their financial reporting by 15 December. This follows the SEC Advisory Committee on Improvements to Financial Reporting’s report, released in February, which recommended that companies should use XBRL to tag their financial…
A question of semantics
It has been all go on the standards front this month, what with the release of the “industry roadmap”, ongoing discussions on the future of the business entity identifier (BEI) and a veritable cartload of progress updates from the EDM Council. The buzzword of the moment seems to have quietly become “interoperability”, rather than “convergence”,…
Markit Adds License for RED for Smaller Firms
Data, portfolio valuations and OTC derivatives trade processing vendor Markit has released a new license for its Reference Entity Database (RED) aimed at smaller buy side firms. Under the terms of the new license, asset managers with low credit default swap (CDS) trading volumes that use DTCC Deriv/SERV for trade confirmation will gain access to…
Telekurs Financial Implements IBEI Codes
Broadening the adoption of a standard identifier for business entities, Telekurs Financial has implemented the International Business Entity Identifier (IBEI) codes for its Valordata Feed (VDF) and its financial display Telekurs iD. The vendor has been working on this implementation since June 2007 in order to allow European customers to identify participants in the processing…
Markit Launches Counterparty and Compliance Documentation Library
Data, portfolio valuations and OTC derivatives trade processing vendor Markit has launched a new documentation library that allows financial institutions to post, manage and share compliance, counterparty credit and regulatory documents securely. Called Markit Document Exchange, the new service automates KYC, anti-money laundering and compliance certification processes in order to reduce risk and lower operational…
Cicada Expands KYC Solution Business Development Team
Shaun Hassett has joined Cicada’s business development team as vice president of business development. He will be responsible for developing and expanding the company’s Cicada Profiler software business. Prior to Cicada, Hassett was national account manager at Accuity, a provider of data, software and services to help organizations maximize efficiency and meet their regulatory compliance…
Counterparty data just got more interesting…
Although financial institutions have had teams of people managing and cleansing entity data for decades, when CounterpartyLink was founded in 2005 the practice of turning to external sources for cleansed entity data and verification of one’s own data was a relatively new concept. Identified by backers Investors Guaranty and data platform provider Cicada as a…
Cicada Spins Off CounterpartyLink to Investors Guaranty Global Alliance
Following several months of market speculation, CounterpartyLink has been sold by parent Cicada Cos to a group of investors led by Andover Capital, part of the Zurich-based specialist fund Investors Guaranty Global Alliance (IGGA). The deal places CPL among a number of financial content and technology investments already owned by IGGA and the Investors Guaranty…
Disparate Markets and Complex Trading Call for Smarter Exceptions Management – Contributed by Coexis
Disparate markets and complex trading call for smarter exceptions management, argues Donal O’Brien, business development director of Coexis. If Societe Generale’s reference data systems had been a bit wiser to the activities of its users, could the actions of Jerome Kerviel and the French bank’s subsequent £3.7bn loss have been avoided? The need for increasingly…