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Fed’s Tarullo Highlights Data Management Considerations of Living Wills
The regulatory community has been abuzz with the notion of living wills, or firm specific resolution plans, for most of this year, but most have not considered the data management responsibilities inherent in the process. Daniel Tarullo, member of the board of governors of the US Federal Reserve System, addressed this issue and highlighted the…
A Reference Data Review Reader Speaks Out About ECB’s Utility Proposals
The latter part of the FIMA 2009 conference in London this week was dominated by discussions among the delegation about reference data standardisation and the European Central Bank’s (ECB) proposals regarding a data utility. A number of Reference Data Review readers talked to us about their perspectives on how the utility idea could be harnessed…
Kingland Systems Integrates IBM Software to Enhance Master Data Management Solutions for Financial Institutions
Kingland Systems, a provider of financial services software and data solutions, today announced it will embed IBM’s InfoSphere Master Data Management Server and other IBM software into its 360 Data line of enterprise data management solutions for the financial services industry through an original equipment manufacturer (OEM) agreement with IBM. This agreement marks an expansion…
BarCap and Citi Veteran Sutton Takes Over Data Management Role at Royal Bank of Canada
FIMA regular and data management veteran, Julia Sutton has completed four weeks in her role at the Royal Bank of Canada (RBC), where she is now director in charge of reference data for EMEA and Asia Pacific. Speaking at FIMA 2009’s focus day, she explained that she is using her experienced garnered at Barclays Capital…
Senior Supervisors Group Report Calls Directly for Investment in Risk IT and Data Management
Last month, the Senior Supervisors Group (SSG), which is comprised of 10 regulatory bodies from seven countries, published a report examining the funding and liquidity issues central to the recent crisis. The report explores critical areas of risk management practice that the SSG feel warrant improvement across the financial services industry, including tackling firms’ fragmented…
UK FSA Creates Data Management Challenge with Single Customer View Reforms
The UK Financial Services Authority (FSA) has recently released a paper discussing the feedback it has received from the market with regards to its proposals around the verification of the single customer view (SCV) for deposit taking institutions. The reforms, which are aimed at facilitation a single, consistent, view of an eligible claimant’s aggregate protected…
EDM Council Publishes Revised Schedule for Subject Matter Expert Reviews
As noted last month by Reference Data Review, the EDM Council is continuing to tweak its semantic repository to better reflect the market’s data semantics. To this end, over the course of September and October, the EDM Council’s subject matter expert (SME) review team has been working through terms that vary over time for the…
DTCC Faces European-based Threat to Trade Repository Plans from BME
The Depository Trust & Clearing Corporation (DTCC) has been pitching its Trade Information Warehouse as a repository for OTC derivatives trade data for some time, but it seems the vendor will soon be facing some competition from Spanish stock exchange operator Bolsas y Mercados Españoles (BME). The regulatory community is keen to get deeper into…
Markit and DTCC Link up to Create Comprehensive Solution for Syndicated Loan Trades
Markit and the Depository Trust & Clearing Corporation (DTCC) today announced plans to bring together key services for the loan market in order to offer a comprehensive solution for the processing of syndicated loans. The initiative aims to increase efficiency and help reduce counterparty and operational risk in the multi-trillion dollar syndicated loan market. DTCC…
ECB’s Reference Data Utility Plans Not Practical Enough, Say RDR Readers
It seems that the majority of Reference Data Review readers out there remain sceptical of the European Central Bank’s (ECB) proposed reference data utility. According to the results of out October reader poll, 43% of you do not think the proposals are practical enough to warrant being considered a desirable concept for the market. The…