Data Management Insight Entity Data, KYC and Client Onboarding The latest content from across the platform
EDM Council Meeting Dominated by Concern Over Achievability of US NIF…
Discussions during the quarterly EDM Council meeting in London last week were dominated by questions regarding the feasibility of the proposals surrounding the establishment of National Institute of Finance (NIF) in the US. The EDM Council itself is currently working on a proof of concept around mortgage backed securities (MBS) data with the NIF, which…
Reference Data Storm in a Teacup
Delegates to this year’s Sibos conference in Hong Kong faced high winds, lashing rain and a barrage of news about the world of reference data. Given the drought of reference data specific discussion topics at last year’s event, it was refreshing to hear panellists discussing topics including XBRL data tagging, corporate actions standardisation and the…
US Regulators Pushing for Increased Pricing Transparency Around CDSs
US regulators have this week been highlighting the need for more transparency around OTC derivatives pricing, in particular around credit default swaps (CDS), which are now moving towards being centrally cleared in the market. Speaking in New York at an International Swaps and Derivatives Association (ISDA) conference, Theo Lubke, senior vice-president at the Federal Reserve…
SmartStream Launches Reference Data Utility Offering, Announces First Client
As first revealed by Reference Data Review in May last year, the Dubai International Financial Centre’s (DIFC) DClear subsidiary has been working on a reference data utility for some time. DClear Utilities, which is now a part of DIFC owned SmartStream Technologies, has now officially been launched on the market and has just bagged its…
Omgeo CTM Best Practices Released to Provide Guidance for New Broker-Dealer Workflows
Omgeo has introduced a best practices document geared toward investment managers and broker-dealers to highlight the most effective ways for the two counterparties to interact with each other when matching trades via Omgeo Central Trade Manager (Omgeo CTM). Until recently, sell side clients wishing to leverage automated trade processing for cross border and non-US trades…
Should the ECB be Using Existing Data Channels and Standards for a Reference Data Utility?
Ahead of the panel discussion on the subject at next week’s Sibos conference in Hong Kong, the European Central Bank’s (ECB) proposals have provoked yet more feedback from Reference Data Review readers. Most agree that starting from scratch in building such a utility would be a difficult endeavour and that the central bank should instead…
UK FSA Fines BarCap £2.45m for Data Errors in Transaction Reporting
The Financial Services Authority (FSA) has slapped Barclays Capital Securities and Barclays Bank with a £2.45 million fine for failing to provide accurate transaction reports to the regulator over a period of a year. The FSA indicates that Barclays and its subsidiary had serious weaknesses in systems and controls in relation to transaction reporting, which…
IASB’s Fair Value and Credit Risk Discussion Paper Causes Chain Reaction of Responses
Following the publication of the International Accounting Standards Board’s (IASB) discussion paper on Credit Risk in Liability Measurement in June, the European Financial Reporting Advisory Group (EFRAG) has published a comment letter on the IASB’s proposals. In turn, this has prompted the Committee of European Securities Regulators (CESR) to publish a response to the concerns…
Political Distractions Getting in the Way of Data Progress for the ECB?
With the ongoing global regulatory overhaul and the planning for the launch of its Target2-Securities (T2S) project well underway, it’s no surprise that the European Central Bank (ECB) has decided to put its reference data utility plans on a backburner for the time being. The central bank will continue to gather feedback about the idea…
Markit and DTCC Launch MarkitServ
Markit and the Depository Trust & Clearing Corporation (DTCC) today launched MarkitServ, a new company that combines the two organisations’ electronic trade confirmation and workflow platforms to provide a single gateway for OTC derivative trade processing. Jointly owned by DTCC and Markit, MarkitServ combines the DTCC DerivServ and Markit Wire trade confirmation platforms to cover…