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Basel Committee Publishes Definitive Principles for Risk Data Aggregation and Reporting
The Basel Committee on Banking Supervision has published ‘Principles for effective risk data aggregation and risk reporting’, a final document based on an earlier version of the principles issued in June 2012 for consultative purposes. The document includes 14 principles grouped into four headline topics and states that global systemically important banks (G-Sibs) should start…
Thomson Reuters Joins Fatca Fray with Modular Compliance Solution
Thomson Reuters has joined the growing group of vendors providing compliance solutions for the US Foreign Account Tax Compliance Act (Fatca) that came into effect on January 1. Its offer is a modular, yet holistic, solution that can flex in response to elements of the legislation that are still to be determined or may change…
Numerix Adjusts Reference Data Structure to Add Multiple Pricing Curves to Portfolio
Numerix has added out-of-the-box multi-curve modelling to its Portfolio front and middle-office application for pricing, managing risk and hedging structured products, giving users the ability to generate more precise valuations and risk measurements of collateralised structured products. The additional functionality is available in the company’s pricing library and the Portfolio product immediately and follows the…
US Senate Names Former Morgan Stanley Economist Berner as OFR Director
The US Senate has named former Morgan Stanley executive Richard Berner as the first director of the Office of Financial Research (OFR). The OFR was set up under the Dodd-Frank legislation within the US Treasury Department and charged with tasks such as the development of a global legal entity identifier (LEI) system that will improve…
Gjensidige Selects Moody’s Analytics’ RiskIntegrity Solvency II Solution
Norwegian insurance company Gjensidige is working with Moody’s Analytics’ RiskIntegrity Solvency II solution to improve risk management and support compliance with the forthcoming regulation. The company chose RiskIntegrity on the strength of its out-of-the-box regulatory capabilities and ease of use. Thomas Bichard-Breaud, leader of Gjensidige’s Solvency II reporting, explains: “Moody’s Analytics offered us the best…
SIX Financial Information Prepares Data Solution for Fatca Compliance
SIX Financial Information has joined the growing band of market data vendors preparing to meet the reference data requirements of the US Foreign Account Tax Compliance Act (Fatca). While Fatca regulation is not expected to be finalised until next year, ahead of the act coming into effect on 1 January 2014, SIX Financial Information is…
Interactive Data Adds Corporate Actions Options to Apex Delivery Platform
Interactive Data is migrating its corporate actions data services to the Apex XML-based reference data delivery platform it introduced in October with a view to meeting growing market demand for automated solutions and emerging demand for corporate actions information not only in the back-office, but also in front-office trading and risk management applications. The company’s…
Talking Reference Data With Andrew Delaney: If It Ain’t STP, It Ain’t Worth a F*%£!
Elvis Costello is playing Southend Cliffs Pavilion next June and I’m getting tickets. Last time I saw him at the Cliffs was probably 1980 or thereabouts. (Last time I saw Chelsea lose 3-1 to West Ham [Yes, we were there Saturday] was 1973; Bobby Moore scored. But that’s a different matter….) Needless to say, he…
Coba Proposes Commercial Framework for European Consolidated Tape
The Coba Project, an organisation set up to propose a commercial framework for an industry-led pan-European consolidated tape, reports positive feedback from a letter outlining its plans that it sent to key industry stakeholders earlier this week. Coba’s proposal wraps up the standards recommended ahead of the letter by FIX Protocol Ltd. (FPL) for the…
Standard Life Takes Stealthy Approach to Building a Data Warehouse
A stealthy rather than Big Bang approach to data warehousing can meet business requirements in a timely and cost-conscious way, and lay the foundations for a scalable solution, said Jim Shaw, solutions architect at Standard Life, as he presented a case study of data warehouse development at last week’s Financial Information Management (FIMA) Conference in…