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Virginie’s Blog – IBM and Algorithmics: Following the Alignment Pattern
IBM’s planned acquisition of Algorithmics, which was announced earlier this week (timed nicely on 1 September alongside two other acquisition announcements – NYSE Euronext buying Metabit and SunGard buying Finace), is just another example of the increasing trend within the vendor community and (to some extent) the industry at large of the alignment of risk…
ESMA Provides FAQ on Common Definitions for European Money Market Funds Under UCITS
As part of the revised Undertakings for Collective Investment in Transferable Securities (UCITS) Directive in Europe, the European Securities and Markets Authority (ESMA) has published a Q&A document that details its guidelines for regulators regarding common definitions for the supervision of money market funds. The paper is aimed at getting European regulators in synch with…
SEC Names Kathleen Weiss Hanley as Deputy Chief Economist and Deputy Director of Riskfin
The Securities and Exchange Commission today announced that Kathleen Weiss Hanley has been named Deputy Director and Deputy Chief Economist for the SEC’s Division of Risk, Strategy, and Financial Innovation (RiskFin). RiskFin was created in September 2009 to provide interdisciplinary analysis to help inform the Commission’s policymaking, rulemaking, enforcement, and examinations. The division encompasses the…
CPSS and IOSCO Trade Repositories Paper Promotes Global LEI and International Product Classification System
The Committee on Payment and Settlement Systems (CPSS) and the International Organisation of Securities Commissions’ (IOSCO) joint working group last week produced a consultative report on the means via which OTC derivatives data should be collected, stored and disseminated by trade repositories across the globe. The report notes the information gaps that currently exist in…
Virginie’s Blog – It’s Good to Talk (But Actions Are Also Needed)
August has truly been a month dominated by discussions at the regulatory level about data standards. Not only has the Committee on Payment and Settlement Systems (CPSS) teamed up with the International Organisation of Securities Commissions (IOSCO) to produce a consultative report on the means via which OTC derivatives data should be collected, stored and…
Firms Likely to Wait Until November Deadline to Comply with AII Reporting Requirements, Says Xtrakter’s Dingley
Although the UK Financial Services Authority (FSA) has provided a four month window for firms to become compliant with transaction reporting using the Alternative Instrument Identifier (AII), firms are likely to wait until the final November deadline for compliance before they begin using the new derivative instrument ID, according to Christopher Dingley, product manager for…
Who’s Certified to Operate as a Credit Ratings Agency in Europe?
As part of the regulatory crackdown on ratings agency in the post-crisis financial markets environment (and in accordance with Article 18(3) of the Credit Rating Agencies Regulation), the European Securities and Markets Authority (ESMA) is required to publish a list of all credit ratings agencies that have been registered or certified to operate in the…
Hong Kong Monetary Authority Proposes New Trade Data Repository Reporting Standards, Keeps a Close Eye on LEI Developments
The Hong Kong Monetary Authority’s (HKMA) recently published consultation paper on reporting to the Hong Kong Trade Repository (HKTR) indicates that the regulator is aware of the “considerable amount of time” it will take for firms to be ready for reporting and that international standards developments need to be factored into the equation. The paper,…
GlobeOp Launches Form PF Reporting Service for Hedge Funds Ahead of SEC Deadline
With the first SEC deadline for private fund (Form PF) reporting currently less than six months away for many large hedge funds and managed account platforms, GlobeOp Financial Services has launched a reporting service to specifically support the requirements. “Many funds with more than $1 billion in assets under management (AuM) potentially face their first…
Canadian Regulator Stresses the Importance of Keeping in Line with International Data Standards
The Canadian Securities Administrators’ (CSA) trade repositories consultation paper, which was published at the end of June, reflects the importance the regulator is placing on keeping the country in line with international data standardisation efforts. The trade repositories proposals, which were put together by the CSA’s derivatives committee as part of its overhaul of the…