Data Management Insight Entity Data, KYC and Client Onboarding The latest content from across the platform
CFTC’s Gensler Elaborates on Why Identification Standards are so Important to the Regulatory Function
The five month investigation into the 6 May US flash crash has been widely publicised and everyone and their dog has been fixated on the impact of high frequency trading on the markets at large. However, the investigation has also raised regulatory awareness of the underlying data inadequacies that lie at the heart of the…
The OFR Should Leverage Existing Regulatory Reports and Focus on Systemic Risk Only, Says the Cluff Fund Report
Following on from the decision to establish two new US federal bodies to monitor and address systemic risk – the Financial Stability Oversight Council and the Office of Financial Research – as part of the Dodd-Frank Act, the Anthony T Cluff Research Fund has collected together industry opinion on how these two bodies should operate,…
IMA’s Sears Warns of the Dangers of Leaving Lawyers to Define Industry Standards
Last week’s MiFID Forum in London saw Guy Sears, director of Wholesale at the Investment Management Association (IMA), warn attendees of the dangers of leaving it up to lawyers or regulators to decide on the best data standards for use within the context of MiFID reporting. He indicated that such a move is potentially damaging…
European Commission’s Leaked MiFID Review Paper Highlights Data Standardisation Challenges Ahead
Following on from the slew of technical advice and consultation papers that have been issued by the Committee of European Securities Regulators (CESR) over the course of this year, the European Commission has finally drawn together its public consultation document on the subject of the MiFID Review, a draft of which was leaked last week….
End of January Deadline for Responses to US Proposals for OFR Reporting of Counterparty IDs
The industry has just under two months to respond to the proposals regarding how firms will report data to the Office of Financial Research, including the standards that must be used for identifying counterparties. The statement of policy was published in the Federal Register at the end of last month for public comment and firms…
Markit Document Exchange’s Davenport Departs for Pastures Unknown
Following three years at the helm of Markit Document Exchange, Penny Davenport has opted to head for pastures new. As managing director and head of Markit’s documentation library since its launch back in 2008, Davenport has helped the document platform to gain critical mass and extend its reach to other areas such as reference data…
CUSIP Global Services Makes its CABRE Business Entity Database Freely Available to CUSIP Customers
CUSIP Global Services (CGS) today announced plans to make its CABRE business entity identifier database freely available to CUSIP customers, effective 1 December. The new standard code, known as a CABRE (CUSIP Avox Business Reference Entity identifier), was created through a strategic partnership between CGS and Avox Limited, a DTCC company. The CABRE database is…
Avox and GoldTier Partner on Enhanced ‘Know Your Customer’ System
Avox, a supplier of legal entity data on financial entities globally, announced today that it has partnered with GoldTier, a compliance software provider, to create an enhanced system to help the financial industry comply with increasingly strict regulatory “Know Your Customer” (KYC) requirements. GoldTier is a leading provider to financial firms of software for onboarding…
ECB’s Trichet on the Importance of Stats: Reading from the Ref Data Utility Hymn Sheet?
Last month, European Central Bank (ECB) president Jean-Claude Trichet delivered the opening address to the central bank’s own conference on statistics and much of his speech was strangely familiar. Referring directly to the need for a “public reference data utility” that could provide “standardised information on instruments and entities that would be operated on the…
BarCap’s Data Quality Head Nagle to Join Deutsche Bank Later This Month
Current global head of data quality at Barclays Capital Llew Nagle is soon to depart for data pastures new, when he joins Deutsche Bank later this month in a similar role. Nagle has been with BarCap since 2001 and earlier this year was promoted to the brand new role of head of data quality. Over…