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Siperian, CounterpartyLink Partner on Legal Entity Data Management

California based Siperian has forged an alliance with CounterpartyLink under which CounterpartyLink’s global legal entity data can be fed directly into Siperian’s counterparty master data management solution Siperian Hub. According to the partners, this alliance will support financial institutions’ efforts to comply with anti-money laundering, know your customer and Basel II regulations as well as…

FT Interactive Data Adds CPL To Avox in Entity Data Service

FT Interactive Data has made the first move to bolster the issue-to-issuer business entity data capability it launched in the spring, with a second strategic relationship with a third-party entity data provider, this time CounterpartyLink (CPL). The Interactive Data Corp. unit, which unveiled the entity data capability in April, using Deutsche Boerse’s Avox as its…

Nordea Plumps for GoldenSource As It Standardizes Data Platform

As part of an IT asset rationalization following the merger that created it, Scandinavian bank group Nordea has licensed GoldenSource’s reference data management platform software to create a group-wide infrastructure in support of trading, operations and regulatory activities. The deal will see a three-phase rollout, with first deliverable due at the end of next month….

FTID Enters Business Entity Data Fray with Avox Deal

Getting in on the business entity data act, FT Interactive Data Europe has teamed up with Avox (formerly known as Azdex) to link issue to issuer and parent data. The deal brings them into the competitive realm of the likes of the Crosswalk joint venture and CounterpartyLink, and is in direct response to yet another…

Standard & Poor’s Launches Evaluations for Euro ABS/MBSs

Standard & Poor’s has unveiled a new bond evaluations pricing service catering to the European structured finance marketplace. The move is aimed at filling a gap in the marketplace, which is plagued by lack of transparency particularly for illiquid asset- and mortgage-backed securities. The move marks Standard & Poor’s entrance to the European bond evaluations…

Wells Fargo Adopts I-flex Reveleus Data Structures

Wells Fargo has implemented a platform from i-flex’s Reveleus unit to support its credit capital calculation application in order to meet its Basel II requirements. Underlying the platform is a set of data structures, business rules, computations and definitions that is expected to help the U.S. bank comply with the advanced internal ratings-based approach of…

Decentralized Data May Cost Firms $600 Million Annually

Decentralized reference data operations and the effects of faulty data on operational risk and capital requirements could be costing financial services institutions an astonishing $600 million each annually, according to the findings of a recent research paper. The paper – titled Operational Risk and Reference Data: Exploring Costs, Capital Requirements and Risk Mitigation – claims…

Survey Finds 75% of Firms Plan More Reference Data Automation

The more things change the more they stay the same. This seems to be the overriding message in the results of the second annual AIM Global Data and Risk Management Survey. As with the previous year’s findings, the 2005 survey results showed that financial institutions all over the world are undertaking considerable efforts to deepen…

Wachovia Taps Teradata For Basel II Preparation

As part of a new risk management programme, U.S. bank Wachovia is implementing data warehousing technology from NCR subsidiary Teradata. It will use the technology to consolidate its existing disparate risk databases into a centralized warehousing environment. The vendor says the new risk data platform will also enable the bank to meet the data management…

Algorithmics Partners with Banks For Credit Risk Data Initiative

Algorithmics has entered an agreement with the Pan-European Credit Data Consortium (PECDC), a credit risk data pooling initiative by European banks, to provide products and services to help satisfy pending Basel II IRB requirements for the staging, structuring and validation of historical default, loss and recovery data. Under the agreement, each PECDC member bank will…