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New Commodity Derivatives IDs Likely to Prove a Headache for Both the Industry and Regulators
As well as highlighting the legal entity identification challenges that the industry is likely to face as a result of the MiFID review, attendees to this week’s MiFID Transaction Reporting Group meeting also elaborated on the instrument identification challenges of the European Commission’s planned extension of the directive to cover the OTC and commodity derivatives….
MiFID Transaction Reporting Group Meeting Highlights UK Specific Client and Counterparty ID Challenges
The UK is likely to face a significant challenge in the identification of clients and counterparties at an individual level on a national basis, as specified by the current proposals under the auspices of the MiFID review, according to participants at this week’s MiFID Transaction Reporting Group meeting. Rather than opting for firm level identification…
Swift’s Recently Promoted Vandenreydt Calls for Global Coordination of Legal Entity ID Standards
Following its recent submission to the US Office of Financial Research (OFR) on the subject of legal entity identification, Swift’s Fabian Vandenreydt speaks to Reference Data Review about why he feels Europe and the US are on the same page with regards to standardisation of this space. Vandenreydt, who was recently promoted to head of Securities and…
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…
ISO Standards for Legal Entity Data are More Important Than Those for Corporate Actions, Says PaceMetrics’ Giblin
The development of ISO standards for legal entity data should be prioritised over the push to get the industry to adopt ISO 20022 within the corporate actions world, according to Gerry Giblin, CEO of EDM vendor PaceMetrics. In the fifth in our series of talking heads on the challenges surrounding entity data management in the…
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…
Data Infrastructure Investment on the Cards for 2011, Says SunGard’s Crowley
A desire for greater data transparency and consistency is driving firms to invest in their data infrastructures, according Janet Crowley, general manager of SunGard’s data management solution, Fame. Crowley, who has long been a proponent of managed data services, indicates that SunGard saw an uptick in interest in the vendor’s Fame solution set last year…
A Single Standard for Legal Entity Data May be a Long Way Off, Says Thomson Reuters’ Rice
The regulatory community may be keen for the industry to adopt standardised legal entity identifiers, but the adoption of a single suitable standard for these purposes may take some time. In the fourth in our series of talking heads on the challenges surrounding entity data management in the current market, Tim Rice, global head of…
S&P Boosts ABSXchange Analytical Capabilities
A series of enhancements have been made to ABSXchange – S&P’s structured finance analytics platform – as part of an extensive programme to help investors deepen their analysis of structured finance transactions. The latest round of upgrades include automatically calculated data fields where values are not otherwise supplied by deal servicers; a new screening capability…
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…