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SCV Reforms will Require Lots of New Counterparty Data Linkages and 25 New Data Fields, Says JWG’s Di Giammarino
The UK Financial Services Authority’s (FSA) incoming Single Customer View (SCV) reforms, which are part of the Financial Services Compensation Scheme (FSCS), will require financial institutions to introduce a raft of new data linkages in order to consolidate customer data into the required reporting format, said PJ Di Giammarino, CEO of JWG at last night’s…
UK FSA Pledges Commitment to Support Vendor Community in Data Space
There may be troubles ahead for the UK Financial Services Authority (FSA) with the impending departure of current CEO Hector Sants in the summer, but, in the meantime, the regulator has pledged to support the data vendor community in adapting to the new regulatory order. To this end, the regulator is strengthening its efforts around…
Accuity Enhances SSI Presentment in the Global Banking Resource
Accuity, a provider of payment routing data, AML screening software and services is pleased to introduce new enhancements that have been made to its industry leading online payment look up tool, the Global Banking Resource (TGBR). The Correspondents page on TGBR has been reconfigured to allow users to more easily associate correspondents with specific beneficiary…
Raising the Practical Challenges of CEBS’ Risk Related Proposals
Next month, industry practitioners will have four opportunities to provide feedback to the Committee of European Banking Supervisors (CEBS) on its risk related proposals, including those around concentration risk and stress testing. The regulatory body has organised four separate hearings at its London premises to garner feedback on a number of its recent consultation papers,…
CESR Contemplates Extending Transparency Notifications to More Instruments, Additional Data Reporting Required
As part of its review of the Transparency Directive, the Committee of European Securities Regulators (CESR) has indicated it may extend transparency requirements to include instruments that create a similar economic effect to holding shares. This would mean that more data would be required in the effort to disclose entitlements to acquire shares as part…
BNY Mellon’s Richmond Talks up Recent Investment in Valuations Capabilities and Importance of Data Centralisation
BNY Mellon Asset Servicing has invested in its client and regulatory reporting systems as a result of valuation and regulatory changes such as FAS 157 and FAS 132R-1, explains Chris Richmond, managing director of global product accounting for the fund administrator, to Reference Data Review. This has involved a significant investment in automating the upload of…
UK FSA Confirms will Require Firms to Publish Consolidated Complaints Data
As part of its drive to compel financial services firms to provide more transparency into their data, the Financial Services Authority (FSA) has confirmed this week that it will require UK firms to publish information on how they handle complaints. According to the regulator, this will help people see how firms are performing in this…
Pricing Partners Launches Price-it VaR
Pricing Partners announced the release of a new module providing value at risk (VaR) and stress tests calculations today. With the recent unpredictable market movements, the accurate calculation of VaR, risks and stress tests on complex products has become a crucial issue for banks, risk control departments, asset managers and hedge funds. This new module,…
Columbus Avenue Consulting is First Client for SunGard’s Revamped FastVal Solution
Following SunGard’s upgrade of the technology platform underlying FastVal last year, SunGard has netted its first client of 2010 for the valuations solution in the form of global fund administrator Columbus Avenue Consulting. The firm, which is focused exclusively on the hedge fund market, is the first client to go live on version 3.0 of…
Merchant Capital Selects Kinetic Partners for Risk Management and Valuation
Merchant Capital’s UCITS III platform for hedge fund managers has appointed Kinetic Partners to manage risk management systems across the entire platform. Merchant Capital enables asset managers to quickly and efficiently launch UCITS compliant investment vehicles to the European market. Funds using the platform take approximately four to six weeks to launch, a process that…