Data Management Insight Entity Data, KYC and Client Onboarding The latest content from across the platform
IBM and Norkom Technologies Sign Agreement with VTB
Bank VTB has signed an agreement with IBM to provide the bank with an integrated anti-money laundering system, based on a solution from Norkom Technologies. The new system will help the bank better manage risks associated with suspicious transactions. The project will be developed and implemented by IBM Global Business Services and Norkom Technologies. As…
CFTC’s Gensler Highlights Some of the Incoming Data Requirements for Swaps Repositories
The Commodity Futures Trading Commission (CFTC) is working towards defining rules for the data that must be submitted to the new swaps data repositories, which are due to be established as part of the Dodd-Frank Act. Speaking at the International Swaps and Derivatives Association (ISDA) regional conference last week, CFTC chairman Garry Gensler explained that…
Transformative Projects are Unlikely to Happen this Year in the Risk Data Space, Says Kinetic Partners’ Collins
“In 2010 it will be difficult to do anything transformative,” John Collins, member of risk management platform provider Kinetic Partners focused on the vendor’s consulting business, told delegates to A-Team Insight Exchange in London this week. The cost pressures of the current market climate and an unwillingness to change core technology platforms will continue to…
Accuity Introduces Chinese Language Functionality for Online Compliance
Accuity, a provider of global payment routing data, AML screening software, and services, today unveiled Chinese language functionality for its web-based look-up tool, Online Compliance, powered by WorldCompliance. A versatile component of Accuity’s Compliance Solutions, Online Compliance allows users to identify and research sanctioned entities, Politically Exposed Persons (PEPs) and other high-risk individuals and organisations….
CFTC Plans Roundtable on Data Details of OCR Reporting for Next Week, Including Entity ID Proposals
The Commodity Futures Trading Commission (CFTC) has indicated that it will lead a public roundtable on 16 September to discuss its proposed new ownership and control report (OCR), including the practicalities of customer identification. The move is in response to the concerns raised by industry participants, including Futures Industry Association (FIA) president John Damgard who…
Collaborative Approach to Instrument and Entity Identification Could be the Key, Suggests A-Team Group and CGS
Can commercial initiatives and innovation through partnerships succeed where standards bodies have failed in the world of entity and complex instrument identification? That is the question posed by A-Team Group and Cusip Global Services’ (CGS) most recent whitepaper, “Expanding Global Identifiers in Complex Assets and Other Areas”, and one which, given the focus of the…
Commerzbank Focused on Integration of Dresdner’s Customer Data onto its Central Database
Commerzbank may have fallen foul of the UK regulator earlier this year as a result of transaction reporting errors, but the German bank has been engaged in sorting out some of its underlying data issues by doing some of the groundwork to integrate the customer data acquired as part of its takeover of Dresdner Bank…
CESR on the Case for Post-Trade Data Quality, Pushes Ahead with Complexity Classification Changes
In its latest feedback paper as part of the ongoing MiFID review, the Committee of European Securities Regulators (CESR) has confirmed post-trade data quality remains high on its agenda and despite negative feedback from some corners of the market, it will be pushing ahead with classification changes to the definition of certain complex products under…
EXL and Datanomic Partner to Provide Best in Class Compliance Solutions and Services
ExlService Holdings, a provider of outsourcing and transformation services, and compliance and data management solutions specialist, Datanomic, have combined their complementary capabilities to deliver exceptional compliance solutions and services for joint clients around the globe. This partnership offers customers a new end-to-end service to configure, implement and operationalise compliance screening with execution support at a…
Cost of CFTC OCR Customer Data Collection Proposals is Too High, Says FIA’s Damgard
The cost of the Commodity Futures Trading Commission’s (CFTC) proposals to introduce new customer data reports, dubbed the account ownership and control report (OCR), is likely to represent a “significant burden” for market participants in the futures industry, according to Futures Industry Association president John Damgard. In a letter sent to CFTC secretary David Stawick…