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New Warning Over Diverging Derivatives Rules
Proposed rules for derivatives trading could push up financing costs and create “material risks” for the global economy because of a lack of co-ordination, the US and European Union have been warned by the financial services industry. The warning is contained in a letter sent on Wednesday by eight leading trade associations – including the…
Cadis Forges Alliance with Targit in Germany
Cadis, the global EDM specialist, has certified its first set of graduates in Germany. targit, a German based consultancy firm, has received certification through the Cadis Centre of Excellence to efficiently install the Cadis EDM. targit adds to its credentials its work on the platform implementation at Baader Bank, Germany’s leading specialist in securities trading….
CFTC Publishes Two New Data Sets on Daily Net Position Changes
The U.S. Commodity Futures Trading Commission (CFTC) today announced the release of two new data sets that add further transparency to commodity futures markets. The new reports, entitled “Large Trader Net Position Changes” and “Trading Account Net Position Changes,” build on the CFTC transparency program initiatives. The data and explanatory notes, as well as average…
SGSS Highlights Expedited Data Support for Outsourced Customer Credit Suisse Asset Management in Germany
As part of its outsourcing deal with the Germany-based asset manager, Société Générale Securities Services (SGSS) migrated Credit Suisse Asset Management’s data in just six months, according to the asset servicing firm. The implementation involved moving data regarding 66 funds and around 7,000 individual positions to investment management system SimCorp Dimension. Credit Suisse Asset Management…
SEC Plans 7 July Roundtable on IFRS Preparedness and Regulatory Impacts
The Securities and Exchange Commission (SEC) has indicated that it will be holding a public roundtable next week to discuss the industry’s current state of preparedness for a move to International Financial Reporting Standards (IFRS). The 7 July event will include three panel discussions on the subject of potential accounting system changes, as the US…
Virginie’s Blog – OFR Plans to Staff up by September, But are Other Plans Afoot?
The Commodity Futures Trading Commission (CFTC) may have appointed all the industry reps it needs to its data standards subcommittee (see my earlier blog on which here), but the Treasury’s Office of Financial Research (OFR) continues to lag in the appointment process – not least of which is the selection of a director. The agency’s…
SimCorp Releases System Readiness Assessment for Dodd-Frank
SimCorp, a leading provider of highly specialised software and expertise for the investment industry, has released a white paper discussing the technology considerations a buy-side firm should take into account on its road to Dodd-Frank compliance. The paper, entitled: “Impact of Dodd-Frank on OTC Derivatives: Supporting Central Trading and Clearing” details SimCorp’s recommendations for preparing…
CFTC Announces the 22 Members of Kirilenko’s Data Standardisation Subcommittee, Google Bags a Slot
Following the announcement last month that it would be establishing a data standardisation focused subcommittee, the Commodity Futures Trading Commission (CFTC) has announced the selection of the 22 members of the team (out of the 52 that applied), which includes (interestingly) Google engineering research director Marc Donner. The other members, who will be led in…
Fitch: Solvency II Set to Reshape Asset Allocation and Capital Markets
Fitch Ratings says in a newly-published report that Solvency II, the new regulatory regime for European insurers from 1 January 2013, is poised to transform how insurers allocate their assets, leading to shifts in demand and pricing for several asset classes. The report, entitled “Solvency II Set to Reshape Asset Allocation and Capital Markets”, highlights…
Virginie’s Blog – Data Gems from the Retail Banking World
Earlier this month I was in diamond capital of the world Antwerp for SAS’s annual European user conference and it was interesting to compare the stories from the vendor’s retail banking clients with those (fewer) speakers from the capital markets. It appears that when it comes to making use of banks’ primary asset, data, the…