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CESR’s CP on Non-equity Markets Transparency Confirms More Derivatives Data Requirements on the Cards
The Committee of European Securities Regulators (CESR) has issued a consultation paper on post-trade transparency this month, which indicates that European firms may soon face a whole host of new data requirements for structured products. The paper, which is part of the ongoing MiFID review process that is being conducted over the course of this…
FactSet Completes Fundamentals Collection Milestone
FactSet Research Systems announces that it has completed the transition process for collection of the fundamentals database acquired from Thomson Reuters on April 22, 2008. The acquisition included a copy of the Thomson Fundamentals database, source documents, collection software, documentation, and collection training materials. As per the Transitional Services Agreement, the Thomson update process was…
EDM Council Makes Progress with its Semantics Repository Work, Commodities Derivatives Next on the List
The EDM Council’s semantics repository has come a long way since the announcement of its creation back in May 2008. A lot of the legwork has been completed for the repository, which aims to standardise the terms and definitions of all reference data attributes stored in the master files of financial institutions, and the review…
Majority of PRMIA Members Back the Establishment of a US-based Data Utility
US Republican senator Richard Shelby may be sceptical about the Financial Services Bill’s proposals for the establishment of a data collection agency, but US risk management professionals are seemingly keen for such a utility to be introduced. According to a recent survey of chief risk officers (CROs) by the Professional Risk Managers’ International Association (PRMIA)…
MiFID JWG Reconvening in June, JWG’s Di Giammarino Points to Overlooked Reference Data Aspects of MiFID Review
In light of the current review of MiFID going on at the European level, the MiFID Joint Working Group (JWG) is set to reconvene at the start of June to discuss the key business and IT related issues. One such issue will be the impact of all this regulatory work on the reference data space,…
DTCC Continues Expansion of Public Data on OTC Credit Derivatives
The Depository Trust & Clearing Corporation (DTCC) expanded its public release of data in the Trade Information Warehouse’s global repository to include a breakout of outstanding credit default swap (CDS) contract values in their currencies of denomination. This added information is expected to help provide greater transparency into the risk exposure of a particular currency…
Asset Control’s Enfield Elaborates on Focus on Integration and AC Connect Launch
With the launch of its new integration module, enterprise data management (EDM) solution provider Asset Control is seeking to tackle the last mile challenge of data management projects. Rick Enfield, business owner of the vendor’s AC Plus solution, speaks to Reference Data Review about the development of the new platform and how it fits into Asset…
Regulators are Cracking Down on Counterparty Identifiers in Line with the MiFID Review
The UK Financial Services Authority’s (FSA) recent fining of German bank Commerzbank for its transaction reporting failures is just one instance of the regulator’s current focus on the data details of a firm’s business. One of the underlying problems in Commerzbank’s case was the incorrect allocation of counterparty codes and the use of proprietary codes for…
US Republican Senator Shelby Attacks Idea of Office of Financial Research as Waste of Time and Money
Given the political wrangling going on over the proposed US Financial Services Bill that is making its way through the Senate at the moment, it was only a matter of time before discussions turned to the proposed data utility in the form of the Office of Financial Research. At the end of last week, US…
IMF Looks at Data Challenges of Better Supervision of the Global Markets
In a similar vein to the rest of the global regulatory community, the International Monetary Fund (IMF) is examining how it can better monitor the financial markets and the data concerns related to that challenge. In a paper published earlier this week, the IMF indicates how it plans to map the interconnectedness of financial institutions…