Data Management Insight Entity Data, KYC and Client Onboarding The latest content from across the platform
Citi’s Pandit Planning IT Overhaul Over Next Three Years in Cost Saving Initiative
Vikram Pandit, Citi’s CEO, is championing an overhaul of the firm’s technology infrastructure in order to reduce duplicative systems and achieve significant cost savings. Earlier this year, the bank stated that it was intending to save at least US$1 billion in technology costs in 2009 via the rationalisation of its systems, but recent reports have…
Petra Financial Signs Reseller Agreement with EastNets for Vortex Solution
Petra Financial has signed a partnership agreement with compliance and payments solution provider EastNets, under which the latter will resell Petra’s Vortex solution to the Middle East and North Africa markets. Enrique Clemente, sales manager for the Middle East for Petra Financial, explains that the vendor hopes the backing of EastNets will ease its expansion…
US Markets on Course for Sweeping Changes to OTC Derivatives Regulation
The US government has this week released a set of proposals to reform the regulatory regime governing the OTC derivatives markets. The proposals, which were tabled by Treasury secretary Timothy Geithner, would mandate that all derivatives deemed to be “standardised” are cleared via designated clearing houses and they are aimed at increasing transparency in these…
UK Government Proposes Insolvency Rule Changes Including More Counterparty Data
The UK government has proposed changes to insolvency rules to give greater protection to investors and markets in the event of the failure of an investment bank. The rule changes are aimed at rectifying issues that have been identified since the collapse of financial institutions such as Lehman Brothers last year. The focus is on…
Knight Capital Group Appoints Merrill’s Scott and Tradeweb’s Shapiro to Head CDS Efforts
Knight Capital Group has appointed ex-Merrill Lynch executive Andrew Scott as managing director to oversee the operations of its credit default swap (CDS) platform NetDelta. The vendor has also poached Michael Shapiro from Tradeweb to become director responsible for leading NetDelta’s sales effort. At Merrill Lynch, Scott was the lead attorney for credit derivative products…
DocGenix and Markit Team up for Documentation Risk Management Initiative
OTC derivatives documentation specialist DocGenix and Markit Document Exchange have signed a strategic initiative aimed at combining their respective offerings to create a single platform for the management of complex legal agreements. Penny Davenport, managing director and head of Markit Document Exchange, explains that the two vendors have been in discussions about the project since…
FOW Tradedata to Assist S&P’s CGS with US Liquidity Equity Options Cusip Development
Standard & Poor’s Cusip Global Services (CGS) business has certainly been busy over the last couple of months. Not only has it recently announced a partnership with business entity identification specialist Avox, it has now also agreed to work with UK-based futures and options specialist FOW Tradedata to develop a new Cusip identification system for…
Omgeo’s Matthews Talks up Data and Risk Management for 2009
Post-trade specialist Omgeo is set to get even more involved in the area of data and risk management this year, according to Steve Matthews, Omgeo’s director of product strategy. To this end, the firm has recently appointed three new executives to focus on the area of data management, especially with regards to its web-based global…
Financial InterGroup’s Grody Publishes Two New Papers on Data and Risk
Allan Grody, president of strategic advisory firm Financial InterGroup Advisors, has published two new papers aimed at shedding some light on the areas of risk management and data in the current market environment. The first paper, Infrastructure Issues in the Financial Services Industry: A Case for a Central Counterparty for Data Management, explores the potential…
Avox and Cusip Global Services Launch New 10 Character Business Entity Identifier Code
Avox and Cusip Global Services (CGS), which is managed by Standard & Poor’s on behalf of the American Bankers Association, have joined forces to create a universal identification system for global business entities. Ken Price, CEO of Avox, and Scott Preiss, vice president in the Securities Classifications group at S&P, explain the details of the…