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JWG’s MiFID League Table Includes Four Main Reference Data Considerations
As previously noted by Reference Data Review, the current review of MiFID encompasses a whole host of reference data issues, which think tank JWG has handily included in its recently updated MiFID league table. The four main reference data changes comprise the new requirements for counterparty and client identifiers, the extension of post-trade data requirements, changes to…
Post-Trade Data Quality has Deteriorated Since MiFID But Are Current Proposals Enough for Instrument Identification, Asks FISD’s Davin
The market fragmentation that has been a major by-product of the introduction of MiFID has resulted in a number of serious data related issues in the OTC space in particular, said Tom Davin, managing director of the Washington-based Financial Information Services Division (FISD) of the Software & Information Industry Association (SIIA), at the recent MiFID…
ESF’s Angheben Warns Firms to Keep a Close Eye on Post-Trade Transparency Regime Progress
Firms need to keep a close eye on what is shaping up to be MiFID II, under the auspices of the Committee of European Securities Regulators’ (CESR) consultation on post-trade transparency, warned Marco Angheben, director of the Association for Financial Markets in Europe (AFME) and the European Securitisation Forum (ESF) at last week’s Thomson Reuters…
Engineering Approach to Data Management Challenges of New Regulation is Best, Says HSBC’s Johnson
The deluge of regulatory change that is facing the data management community is best tackled by adopting an engineering approach, according to Chris Johnson, head of product management, market data services at HSBC Securities Services. Speaking at a recent Thomson Reuters pricing event as a data management representative rather than on behalf of HSBC, Johnson…
US FCIC Criticises State of Goldman’s Slow Production of Incomplete and Inaccurate CDO and Customer Data
Following the damning evidence provided by the Lehman examiner report earlier this year, proof yet again of the poor state of the industry’s data management systems comes this month from the US Financial Crisis Inquiry Commission’s (FCIC) recent dealings with Goldman Sachs. The regulatory body, which was established in May last year to examine the…
FRSGlobal’s Brammertz Propounds Risk Management Benefits of the US Office of Financial Research
The plans for the establishment of a US-based reference data utility in the guise of the Office of Financial Research continues to make its way through the US political system and it seems that many of those from the risk management world feel it will make a difference for the better. The Professional Risk Managers’…
Financial Service Firms Able to Significantly Improve Trade Lifecycle Management Through Partnership Between Misys and SmartStream
Misys, a global application software and services company, today announces that it has partnered with SmartStream Technologies to deliver improved risk control and greater efficiency across the entire trade transaction lifecycle. The partnership brings together two leading software providers to deliver a range of solutions that provide broad connectivity to market participants and exchanges, improve…
Confluence’s Botula and Powell Elaborate on Data Implications of Money Market Fund Reforms
Data management solution vendor Confluence is busy readying itself to be able to provide its US-based customers with a solution that will allow them to meet the requirements of the US Securities and Exchange Commission’s (SEC) incoming Money Market Fund Reform Rule. Kirk Botula, executive vice president and chief operating officer, and Scott Powell, product…
BIS Working Paper Highlights the Challenges in Data Aggregation for Systemic Risk Monitoring
The current regulatory focus on improving the monitoring of systemic risk at a global level is certainly a laudable aim, but the practical reality of drawing together a unified database that provides risk exposure data at an industry wide level is easier said than done. A recent Bank for International Settlements (BIS) working paper, written…
BNY Mellon’s Ingle Discusses the Data Challenges Inherent in the Derivatives Market Reform Process
The regulatory community is hell bent on increasing transparency into the derivatives market by any means necessary, including forcing OTC instruments to be cleared via central counterparties (CCPs) and requiring firms to report more data to new trade repositories. Reference Data Review speaks to Steve Ingle, derivatives product manager at BNY Mellon Asset Servicing, to find out…