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Virginie’s Blog – Control
The recent woes at UBS with its own Nick Leeson/Jerome Kerviel (delete as desired) style rogue trader and this month’s MF Global bankruptcy investigation into its customer data practices have both highlighted an important aspect of data management: control. Whether it be data and system access concerns, or those related to the treatment of customer…
DTCC Files SDR Applications with CFTC
The Depository Trust & Clearing Corporation (DTCC) announced that it had filed a registration application with the U.S. Commodity Futures Trading Commission (CFTC) to operate a swaps data repository (SDR), DTCC Data Repository (U.S.), across multiple OTC derivatives asset classes. “DTCC is committed to working with financial authorities and the industry to promote a transparent…
Virginie’s Blog – SEC’s Systemic Risk Push and Form PF
This week, the US Securities and Exchange Commission (SEC) conducted an open meeting about new proposed data reporting requirements for the private funds sector for systemic risk monitoring purposes. The SEC and the Commodity Futures Trading Commission (CFTC) have been tasked with adopting a joint form to collect critical systemic risk data about hedge funds…
Ullink Reduces Latency with Ouch, Teams with Fiberblaze
Ullink has added Ouch support to its UL IRIS+ pre-trade risk offering, reducing latency of checks from 3.5 microseconds previously attainable for the FIX protocol to just two microseconds. Ullink is leveraging FPGA-based network interface cards from Denmark’s Fiberblaze as part of its solution. Ouch is binary protocol developed by Nasdaq OMX, and supported by…
ESMA’s IFRS Report Highlights “Room for Improvement” in Fair Value Data Disclosure
The European Securities and Markets Authority’s (ESMA) recent report on the application of International Financial Reporting Standards (IFRS) across the European region highlights that firms are still falling short in their data provision for fair value hierarchy and qualitative disclosures on risks arising from financial instruments. Although the European level regulator notes that progress has…
Virginie’s Blog – Data Transparency and Ethics
The speech made by the US Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examination’s director Carlo di Florio at the National Society of Compliance Professionals meeting in Baltimore last week might have been a little heavy handed in its delivery (he referenced philosophers Plato and Aristotle, for one), but the message was…
Virginie’s Blog – It’s a MAD, MiFIR World
Last month, I looked at some of the data management implications of the incoming sequel to 2007’s MIFID: the Markets in Financial Instruments Regulation (MiFIR), and today sees the European Commission dotting the Is and crossing the Ts of the draft, with a view to being much more prescriptive about post-trade transparency requirements (among other…
FSB Granted with More Power for Systemic Risk Data Monitoring, ESRB Details Data Collection Arrangements
At the weekend, the G20 indicated that the Financial Stability Board’s (FSB) powers with regards to systemic risk monitoring and data gathering would be increased to allow it to compile an annual review on how well financial regulations have been adopted across the G20 countries. And, at the end of last month, the European Systemic…
Interactive Data and FINRA Provide Transparency into Structured Securities Market
Interactive Data Corporation, a leading provider of financial market data, analytics, and related solutions, today announced that Interactive Data and the Financial Industry Regulatory Authority (FINRA) have developed a set of reports designed to provide transparency into market activity related to U.S. structured securities on a daily basis. The reports consist of the U.S. Structured…
Financial Intergroup’s Grody and BT’s Pickles Debate the LEI Issue
Following on from the questions about the legal entity identification (LEI) work going on as a part of the US Office of Financial Research (OFR) and the Financial Stability Board’s (FSB) efforts to determine a global standard that were raised by BT Global Banking & Financial Markets’ head of industry initiatives Chris Pickles last week,…