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CESR Outputs Two More Papers on OTC Derivatives: New Transaction Reporting Data Requirements and Standards on the Table
To add to the veritable cartload of recent papers issued as a part of the ongoing review of MiFID, the Committee of European Securities Regulators (CESR) has added two more into the mix, this time on the subject of OTC derivatives, thus increasing the number of potential data requirements for firms on the regulatory reform…
Is the Leopard Changing its Spots?
Last month saw the approval of the package of proposals that make up the next five year strategic plan for industry network operator Swift, but what has the Brussels-based board approved in Swift 2015 and what does it mean for the industry at large? It’s early days and not much has been said publically about…
Obama Signs Off US Financial Services Bill, But What Changes are Needed to Meet the OFR’s Data Requirements?
After months of debate and the lengthy deliberations of a dedicated conference committee, US president Barack Obama has finally signed off the reform bill that proposes, amongst many other things, to set up a US-based data utility in order to more accurately monitor systemic risk. The establishment of the Office of Financial Research has now…
DTCC Further Expands Public Release of Credit Default Swap Data Registered in its Global Trade Repository
The Depository Trust & Clearing Corporation (DTCC) today further expanded its public release of credit default swap (CDS) data, providing more detailed market segmentation information on the largest corporate and sovereign CDS (single named reference entities) registered in its Trade Information Warehouse’s (Warehouse) global repository. This extension of the data posted on DTCC’s website will…
Only 26% of 450 Respondents to Oracle’s European Survey Confident in Data Management Systems’ Ability to Support Risk Function
Reference Data Review has noted on a number of occasions that data quality and data management issues lie at the heart of the risk management and compliance challenge and recent research by IT system vendor Oracle is a case in point, which indicates that only 26% of the 450 European respondents to the survey were confident…
Vendor Partnerships Key to Success in Tackling KYC and Entity Data Challenge, Says GoldTier’s Tebaldi
The most effective manner in which to tackle the challenge of entity data management and meeting know your customer (KYC) requirements is by opting for a best of breed vendor approach, according to Matthew Tebaldi, president of client onboarding and KYC data management solution vendor GoldTier. To this end, the vendor has teamed up with…
XSP Launches ASP Global Corporate Actions Solution in AsiaPac
XSP, a vendor of corporate actions software, announced today that it has launched an application service provider (ASP) offering of its flagship XSP v5 corporate actions solution on the Decillion Group platform. Decillion Group, a banking software solutions provider and operator of the largest Swift Service Bureau in the AsiaPac region, formed a partnership with…
Regulations Pushing Basic Reference Data Management Issues up the Agenda for Asset Managers, Says MoneyMate’s Brennan
The increased media attention being given to regulation and the punitive action taken by regulators as a result of data errors has flagged the issue of data management for the buy side at large, from hedge fund managers to traditional institutional investment firms, according to MoneyMate’s chief technology officer Ronan Brennan. During a recent webinar,…
Getting Sidetracked on the Topic of MiFID
This week’s MiFID Forum debate was a case in point of how easy it is to go off track when discussing the current barrage of consultation papers released related to the MiFID review. Although some of the discussions were interesting from a bigger picture perspective, I expect that much more productive talks will take place…
Two Weeks Until Firms Need to Supply Their Pre-implementation Reports to the UK FSCS for SCV Compliance
The UK Financial Services Authority (FSA) has been doing its level best this year to make the industry aware of the new customer data requirements as part of the incoming Financial Services Compensation Scheme (FSCS) Single Customer View (SCV) reforms, but time is running out. Firms have the next two weeks in which to pull…