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ISITC, AMF and ISDA Publish FpML-based Standards for OTC Derivatives Communications
A global OTC derivatives committee led by the International Securities Association for Institutional Trade Communication (ISITC) has this week published a set of recommendations designed to set messaging standards for communications within the OTC derivatives market. The FpML-based standards, which will be administered by ISITC US, are focused on the contract notifications message flow between…
ICE Clear Europe and Eurex Credit Clear Ready for the Off
This week marks the end of the deadline for the launch of Europe’s credit default swap (CDS) clearing counterparties (CCPs) and both IntercontinentalExchange’s (ICE) ICE Clear Europe and Eurex’s Eurex Credit Clear are due to go live today. Both parties have declared they have already begun operations and will soon be ready to clear European…
The ECB’s Reference Data Utility: Evidently a Controversial Topic…
The European Central Bank’s (ECB) proposed reference data utility seems to have caught the attention of a lot of Reference Data Review readers out there. While most are in support of standardisation in the reference data space in general, many are confused and, frankly, concerned about what the ECB is planning. On reader in particular,…
CPSS and IOSCO Establish Working Group to Monitor OTC Derivatives CCP Progress
The Committee on Payment and Settlement Systems (CPSS) and the Technical Committee of the International Organisation of Securities Commissions (IOSCO) have set up a working group to review the application of the 2004 CPSS-IOSCO Recommendations for Central Counterparties to clearing arrangements for OTC derivatives. The recommendations, which were developed by the CPSS and the IOSCO…
ECB’s Planned Reference Data Utility is Both Desirable and Plausible, Says EDM Council’s Atkin
Earlier this year, the European Central Bank (ECB) indicated it is seriously considering getting into the reference data world via the establishment of a securities reference data utility. Since the announcement, the idea of a central bank led utility has proved to be a divisive subject for many. However, as Mike Atkin, managing director of…
Data Management, Regulation and Risk Top the Agenda at Investit Conference
At a recent industry conference hosted by Investit, an investment management consultancy, senior investment management executives and third party administrators placed data management, market and counterparty risk, client reporting and regulatory issues at the top of their agenda. Cost cutting also remained a main concern but the overall mood was one of optimism compared to…
UK Asset Managers Are Aware of Dangers of Not Aggregating Data But Standards Are Lacking, Says SimCorp
The UK asset management community is aware of the dangers posed by failing to adequately consolidate and aggregate their data but underlying problems remain, according to a recent report by risk management platform provider SimCorp and independent consultant Paul Miller. The problems are not to do with technology or organisation, explains Cath Rawcliffe, vice president…
Kingland Systems to Provide Consultancy Services on Counterparty Data Issues
Kingland Systems is enhancing its data management consulting services, offering a series of services specific to client and counterparty data. These client data consulting services will address all aspects of the client data lifecycle, including client set up, data maintenance and common client data system interaction with other functions such as compliance, risk, operations and…
Algorithmics Launches New Credit Valuation Adjustment Module
Algorithmics has released a new Credit Valuation Adjustment module aimed at helping banks to use their capital more efficiently through more accurate pricing and hedging of counterparty exposures. The module is an extension to Algorithmics’ Algo Counterparty Credit Risk solution. Ben De Prisco, senior vice president of research and financial engineering at Algorithmics, says: “Conditions…
Asset Control’s Enfield Highlights Focus on Valuations and Counterparties
Following its partnership agreement with business entity data specialist Avox earlier this year, enterprise data management (EDM) vendor Asset Control is keenly focused on the area of counterparty data. Rick Enfield, product business owner of the vendor’s AC Plus solution, explains to Reference Data Review why counterparty data and valuations are so important in the…