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A Strategic Approach to BCBS 239 Implements Best Practice Data Management and Promises Business Benefits
BCBS 239 compliance is a challenge and its January 1, 2016 deadline for global systemically important banks is fast approaching, but successful implementation of the regulation’s principles, particularly those covering risk data aggregation, can deliver significant business opportunities. These include cost and capital savings, data rationalisation, improved data quality and links between datasets that have…
Finding a Balance Between Standards and Flexibility in Data Architecture
The integration of standards and flexibility into data architecture is an ongoing challenge for financial firms that must not only improve operational efficiency, but also sustain adaptability to support business and regulatory change. Both are important, but potentially opposed to each other, begging the question of how best to find an optimal balance between standards…
Final ESMA Report on MiFID II and MiFIR Technical Standards Recommends XML and ISO 20022 for Regulatory Data Reporting
The European Securities and Markets Authority (ESMA) has published its final report on Regulatory Technical Standards (RTS) for Markets in Financial Instruments II (MiFID II) and Markets in Financial Instruments Regulation (MiFIR). The report covers many aspects of the directive and regulation, and concludes debate over market data reporting, recommending that transaction and instrument reference…
Asset Control Recruits Martijn Groot to Lead Product Strategy Including Data Service Manager
Martijn Groot has left Euroclear and rejoined Asset Control to lead the company’s product strategy. His initial responsibility is Data Service Manager, a product that is designed to help financial institutions improve the timeliness and quality of their market, reference and risk data services. It is also Asset Control’s first significant product release since it…
Opinion – BCBS 239 Compliance: Slip Slidin’ Away?
By Jennifer L. Costley, Ph.D., Principal, Ashokan Advisors “Slip slidin’ away Slip slidin’ away You know the nearer your destination The more you’re slip slidin’ away…” – Paul Simon A couple of weeks ago, the Basel Committee on Banking Supervision (BCBS) issued their second annual progress report on the adoption of the Committee’s Principles for…
Alacra and Accuity Partner to Integrate Bankers Almanac with Alacra Compliance Enterprise
Accuity and Alacra have partnered to integrate data from Accuity’s Bankers Almanac with the Alacra Compliance Enterprise (ACE) workflow application. The partnership includes integration of Bankers Almanac’s Due Diligence Data File with ACE and is expected to increase the speed and efficiency of client onboarding. The partnership has been made in response to client requests…
AxiomSL Adds A Solution for Smart Cube Compliance to its Regulatory Reporting Platform
AxiomSL has stepped into the market with a solution for Austrian Smart Cube reporting, which comes into play next year. The solution is built on the same platform as AxiomSL’s other regulatory reporting products, providing data consistency across reports and the reduced complexity and costs of a single platform approach. Smart Cube reporting, which is…
New York Data Management Summit: Mapping Developments in Enterprise Architecture
Enterprise architecture for data management is moving on, leaving behind traditional enterprise data warehouses and embracing the potential of semantic data models, decoupling systems, building on open source platforms, and deploying hybrid solutions. The limitations of existing architectures for data management and the possibilities of emerging ideas were discussed at the fall A-Team Group Data…
Markit | Genpact KYC Services Builds Out Offer and Names Ex-Goldman Sachs Exec Jon May as CEO
Markit | Genpact KYC Services has marked six months of operation with the appointment of former Goldman Sachs executive Jon May as CEO, the registration of more than 600 buy-side firms and corporations with its Know Your Customer (KYC) service, and the development of workflows that allow large asset managers operating thousands of funds to…
Data Management Summit: The Challenges and Opportunities of BCBS 239
The Basel Committee on Banking Supervision regulation BCBS 239 presents a significant data management challenge for banks, but it also offers opportunities for those that reach compliance. Moderating a panel discussion on risk data aggregation under BCBS 239 at A-Team Group’s Data Management Summit in London, Dennis Slattery, CEO of EDMWorks, set the scene noting…