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Macbeth Talks up the DTCC’s Data Repository Ambitions for 2011: More Markets on the Agenda
The Depository Trust & Clearing Corporation (DTCC) will be focusing on taking its services forward this year in line with regulatory developments, according to Stewart Macbeth, general manager of the DTCC’s Trade Information Warehouse (TIW). At the start of this year, it launched its automated portal for regulatory access to global credit default swap (CDS)…
A Spectrum of Opinions
One thing became clear during this month’s series of interviews with industry participants on the subject of legal entity identification standards and when reading through the responses to the Office of Financial Research’s (OFR) proposals on the subject: there is not much agreement on which way to proceed with regards to standardisation. As I noted in…
UK FSA’s Response to MiFID Warns Against a One Size Fits All Approach to Data Standardisation
The recent joint response by the UK Financial Services Authority (FSA) and the UK Treasury to the European Commission’s MiFID proposals indicates that the regulators are concerned that a “one size fits all” approach towards data standards may be applied to non-equity instruments, as the directive is expanded beyond equities. The response, which comes in…
SEC and CFTC on User Fees, Data Utilities and Obama’s Recent Budget Request
Following on from the recent high profile discussions within the US regulatory community about challenges facing the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) regarding funding over the last few weeks, president Barack Obama has this week proposed to include user fees in next year’s budget for the regulators. The…
SEC Proposes First in Series of Rule Amendments to Remove References to Credit Ratings
The Securities and Exchange Commission today voted unanimously to propose amendments to its rules that would remove credit ratings as one of the conditions for companies seeking to use short-form registration when registering securities for public sale. Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires federal agencies to review how…
CFTC’s Dunn Admits That Key Market Definitions are Missing from Reforms at the Outset
The Commodity Futures Trading Commission (CFTC) has spent most of the start of this year complaining about its dire situation with regards to funding, but this week saw definitive proof that the regulatory reform process is starting off down the wrong track, with the admission by CFTC commissioner Michael Dunn that the regulator is pushing…
Interactive Data to Provide Evaluations for US Residential Whole Loans
Interactive Data Corporation, a provider of financial market data, analytics and related solutions, today announced that it will offer a new evaluations service for US whole loans (non-securitised residential mortgage loans). This service is expected to be available in the second quarter of this year. The new evaluations service can help financial institutions with the…
UPDATED: A-Team’s Comprehensive Guide to the Legal Entity ID Feedback to the OFR
The start of this week saw the passing of deadline for feedback to the Office of Financial Research on the subject of legal entity identification and it appears that a number of recurring themes crop up in the 30 different responses (updated entries included) submitted by various industry associations, including concerns about the tight timelines impacting…
Sifma Hires a Project Manager to Champion its Interests and Those of Seven Other Associations on the OFR LEI Issue
The combined response submitted by the Clearing House Association, EDM Council, the Financial Services Roundtable, the Futures Industry Association (FIA), International Swaps and Derivatives Association (ISDA), the Investment Company Institute, the Managed Funds Association (MFA) and the Securities Industry and Financial Markets Association (Sifma) may be only one of the 20 received this week by…
CFTC Reaching Data Breaking Point?
Much has been said recently about the funding crisis going on within the US regulatory community and the Commodity Futures Trading Commission (CFTC) has been particularly vocal about the impact this is having on its future capabilities with regards to implementing the Dodd Frank reforms. Last week, commissioner Scott O’Malia highlighted the seriousness of the…