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Virginie’s Blog – Keeping an Eye on Google
I noted the announcement of Google’s participation in the Commodity Futures Trading Commission’s new data standards subcommittee this month with interest. Given its potential in the financial services market in the area of data management (in the cloud) and the experience it brings to the table, it’s a surprise that steps hadn’t been taken sooner…
CFTC Announces the 22 Members of Kirilenko’s Data Standardisation Subcommittee, Google Bags a Slot
Following the announcement last month that it would be establishing a data standardisation focused subcommittee, the Commodity Futures Trading Commission (CFTC) has announced the selection of the 22 members of the team (out of the 52 that applied), which includes (interestingly) Google engineering research director Marc Donner. The other members, who will be led in…
Kinetic Partners’ U.S. Office Expands Regulatory and Compliance Practice to Meet Increased Hedge Fund Demand for SEC Registration
Kinetic Partners, a global professional services firm to the asset management, investment banking and brokerage community, today said it has expanded the regulatory and compliance team at its New York office to meet increasing demand from hedge funds undergoing SEC registration required under the Dodd-Frank Act. Donald Babbitt and Kevin Duffy Jr. have joined the…
IOSCO Highlights Dark Pool Post-trade Data Gaps, Lack of Global Venue Identification Standards
The International Organisation of Securities Commissions (IOSCO) has published its principles for the global dark pool community, which highlights the high degree of disparity across the post-trade data environment for these venues. In particular, it notes the lack of a common venue identification standard and trade reporting processes. IOSCO, which has also been working on…
EDM Council Plans Fee-based Data Quality Rulebook, Ramps up Semantics Proof of Concept Work
The EDM Council has this month indicated that it is considering a new fee-based service that would provide members with data quality rules that firms could embed in their quality review processes. The idea has gone to the association’s board for approval and if it receives the green light, will be discussed with the membership…
Reval Poll Shows Most End-User Costs Would Increase to Comply with Dodd-Frank
In a live webinar poll last week hosted by Reval, the premiere Software-as-a-Service provider for financial risk management, 68 percent of non-financial end-users of derivatives said that they do not have a Credit Support Annex (CSA) in place with counterparties to their OTC derivative contracts, indicating potential cost impacts for key compliance requirements expected under…
Reval’s Okochi and Trozzo Highlight Valuations and Data Impacts of US Swaps Market Reforms
It seems everyone’s talking about the data impacts of the Dodd Frank reforms at the moment. Last week, the Commodity Futures Trading Commission (CFTC) hosted a public roundtable on the subject of the new recordkeeping requirements and related standards efforts, and derivatives risk and valuations solution provider Reval also hosted its own webinar on the…
CFTC Roundtable on Unique Product IDs Highlights Mountain Yet to Climb in Terms of Setting Instrument Standards
This week’s Commodity Futures Trading Commission (CFTC) public roundtable on the technical aspects of the introduction of new unique product identifiers (UPIs) highlighted the mountain still yet to climb in terms of setting instrument identification standards. Much recent progress has been made on the legal entity identification front as a result of the combined work…
Virginie’s Blog – What Would a US Derivatives Reform Delay Mean for the OFR?
It is no secret that the success of any new regulatory agency, such as the US Treasury’s recently established Office of Financial Research (OFR), is predicated on it receiving the political and financial support it needs to survive. But what happens if the foot is taken off the pedal of the derivatives reforms on which…
LCH.Clearnet Appoints Susan Milligan as Head of US Public Affairs
LCH.Clearnet has appointed Susan Milligan head of US public affairs. Based in Washington D.C., Susan will be responsible for representing LCH.Clearnet Group with the US Congress and the federal agencies and will liaise with the US media. Susan joins LCH.Clearnet from the Options Clearing Corporation (OCC), where she managed federal government relations and all corporate…