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Counterparty Risk Infrastructure in the Current Market
By Neil McGovern, product strategy director at Sybase History may judge the failure of Lehman Brothers as the event that caused the most changes in financial services institutions in the credit crunch of 2007 to 2009. The failure of an institution that was never meant to fail, especially one such as Lehman, has changed attitudes…
Data Practices Have to Change to Support Risk Management, Says A-Team and GoldenSource
Given the current financial climate, a large proportion of the financial services industry is engaged in changing its approach to data management in order to better support risk management, according to recently published research by A-Team Group. The research, which was commissioned by EDM vendor GoldenSource, indicates that there is a general feeling within the…
Buy Side and Sell Side are Experiencing Similar Pain with Regards to Document Management, Says Markit
Given the increased market focus on counterparty risk this year, firms are now beginning to spend more on the efficient management of their documentation processes, according to a recent survey by Markit. Good news then, for the vendor, which launched its Markit Document Exchange service in May last year. Penny Davenport, managing director and head…
CCP for the CDS Market Will Have Very Little Impact on Risk Mitigation, Says Adsatis
Originally appeared in MiFID Monitor The market may be overestimating the impact that the introduction of a central clearing counterparty (CCP) will have on systemic risk, according to London-based consultancy Adsatis. The firm’s recent white paper, entitled “A central counterparty for OTC credit derivatives – are we over estimating the importance?”, examines the benefits and…
All change
There can be no doubt in anyone’s minds that the data management business is undergoing dramatic change. As indicated by the preliminary results from our reader poll this month, the majority of budgets for data management projects are facing cuts, be they significant or otherwise. Surprisingly, a minority of you have witnessed an increase in…
DTCC Expands Data Published by Deriv/SERV on CDSs
The Depository Trust & Clearing Corporation (DTCC) is to, later this month, expand the data its Deriv/SERV unit publishes on credit default swaps (CDSs) registered in its Trade Information Warehouse to show additional detail on weekly transaction activity. In November last year, DTCC first indicated is would be providing more information on derivatives registered in…
European Dealers Fail to Buy into European CDS CCP, Favour Global Solution
Originally appeared in MiFID Monitor The clearing counterparty (CCP) race for the credit default swap (CDS) market has proved to be controversial from the off. Not only has there been an ongoing battle between the contenders for market share, each trying to convince the market that only one solution is necessary, there has also been…
BISS Research Adds STP and Risk Measurements to Corporate Actions Benchmarking
In a climate where metrics seem to be ever more important, BISS Research is seeking to capitalise on this focus in data management with an upgrade of its benchmarking service for corporate actions vendors. For obvious reasons, risk management and STP have become key drivers for investment in the space (reducing headcounts and regulatory scrutiny…
Hedge Funds are Increasing their Scrutiny Of Counterparty Risk, Says Pershing and Aite Group
Managing counterparty risk has become a much more critical component of a hedge fund’s overall business operations today than it has been in previous years, according to a recently published white paper by Pershing and Aite Group. The report, which is entitled Risk and Reward: Hedge Funds Changing Views on Counterparty Relationships, focuses on the…
UK FSA Agrees to Review JWG-IT Group Proposals on Counterparty Data Management
Originally appeared in MiFID Monitor The UK Financial Services Authority (FSA) has agreed to review London-based think tank JWG-IT Group’s guidance on wholesale customer data management, which it plans to submit to the regulator in the first quarter of next year. The group is in the process of drawing together industry guidance that is aimed…