Data Management Insight Entity Data, KYC and Client Onboarding The latest content from across the platform
Lehman Investigation Indicates Immense Scale of the Data Challenge Due to 350bn Pages of Data and “Arcane Systems”
The recently published examiner report into the Lehman bankruptcy indicates the scale of the data challenge faced when winding down a financial institution of its size: the examiner was faced with three perabytes (otherwise known as 350 billion pages) of electronically stored data to process. Unsurprisingly, given the fact that information needed to be presented…
FactSet Research Systems Witnesses Revenue Uptick of 0.5% for Second Quarter
After a difficult first quarter of fiscal 2010, data and analytics vendor FactSet Research Systems seems to be experiencing a return to form with an overall revenue increase of 0.5% for the second quarter on previous year’s figures. Phil Hadley, chairman and CEO of the vendor, indicates that he believes the investment in its business…
Regulation is Driving Force Behind Data Management Change, Agree EDM Council’s Atkin and JWG’s Di Giammarino
They may differ in their opinions in how to go about effecting change, but EDM Council’s managing director Mike Atkin and JWG’s CEO PJ Di Giammarino agreed that the regulatory environment is forcing firms to re-evaluate their data management systems. Both Atkin and Di Giammarino told delegates to TSAM in London earlier this week that…
ISDA Indicates Commitment to OTC Derivatives Repositories and Greater Data Standardisation
The International Swaps and Derivatives Association (ISDA) has this week pledged its support for the establishment of global central repositories for OTC derivatives data and its commitment to the provision of relevant transaction data to supervisory authorities. The promises were made in a letter that has been sent to the heads of the primary supervisory…
Firms Being Forced to Invest in Counterparty Risk Systems Due to Business Concerns, Says Algorithmics
Rather than pressures related to regulation, the business concerns of the front office are driving a spate of investment into revamping firms’ counterparty risk systems, according to a recent survey conducted by risk solution vendor Algorithmics. The investments are focused largely on credit value adjustment (CVA), which allows for more dynamic pricing of counterparty credit…
Standard Chartered Selects UnaVista for Reference Data Solution
The London Stock Exchange announced today that Standard Chartered, a major international bank, has selected UnaVista as its global repository for reference data. Standard Chartered recently became the first bank to benefit from the Exchange’s partnership with FactSet Research systems, and are now receiving counterparty and issuer linkage data from FactSet through UnaVista. Standard Chartered…
UK FSA’s Huertas Talks up Practical Implications of Living Wills Legislation, Including Counterparty Data Requirements
Judging by the number of references that have been made to living wills legislation during reference data related events and conferences recently, the market is already well aware of the data challenge awaiting it. However, for those that may have been asleep for the last few months, Thomas Huertas, director of the banking sector for…
Handling Electronic Records and Dealing with Risk Management
By Robert Jones, legal consultant at Kroll Ontrack, and John Doherty, litigation partner at Manches What other challenges and benefits might arise when addressing the most effective management of electronically stored information? The Information Commissioner’s Office recently announced new fines to deter breaches of the law in relation to personal, which could see organisations being…
Avox and Cusip Global Services Finally Launch New Business Entity Identifier JV
Following the signing of a partnership agreement to launch an entity identification joint venture last April, Avox and Cusip Global Services (CGS) have finally launched their new service based on the vendors’ Cusip Avox Business Reference Entity identifier (Cabre) codes. The new offering, which has been dubbed the Cabre Directory Service, aims to provide a…
UBS, HSBC, BNY Mellon and RBS All Engaged in a Degree of Labour and Technology Arbitrage
The upshot of many of the discussions at last week’s reference data conference in London, organised by Marcus Evans, was that many firms are currently engaged in a degree of labour and technology arbitrage. Not only are banks negotiating with their vendors around contracts for data feeds and price points for particular solutions, but they…