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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…
Oracle Introduces Oracle Financial Services Hedge Management and IFRS Valuations
· Oracle Financial Services Hedge Management and IFRS Valuations is now available to help financial institutions easily comply with regulatory requirements for International Financial Reporting Standards (IFRS). · New IFRS requirements for documentation and transparency make manual and siloed hedge accounting and valuation processes impractical. Given market volatility, hedge accounting must be a fully automated…
Groupe Reunica’s Muret Elaborates on its Implementation of SAS to Tackle Op Risk and Increase Efficiency
French pension fund group Groupe Reunica has been using SAS’s data warehousing solution for around 10 years, but two years ago decided to expand its implementation to cover reporting and has since rolled out SAS Strategy Management (STM). Arnaud Muret, performance director at the group, explains the progress that has been made, what is still…
Kinetic Partners’ U.S. Office Expands Regulatory and Compliance Practice to Meet Increased Hedge Fund Demand for SEC Registration
Kinetic Partners, a global professional services firm to the asset management, investment banking and brokerage community, today said it has expanded the regulatory and compliance team at its New York office to meet increasing demand from hedge funds undergoing SEC registration required under the Dodd-Frank Act. Donald Babbitt and Kevin Duffy Jr. have joined the…
IOSCO Highlights Dark Pool Post-trade Data Gaps, Lack of Global Venue Identification Standards
The International Organisation of Securities Commissions (IOSCO) has published its principles for the global dark pool community, which highlights the high degree of disparity across the post-trade data environment for these venues. In particular, it notes the lack of a common venue identification standard and trade reporting processes. IOSCO, which has also been working on…
EDM Council Plans Fee-based Data Quality Rulebook, Ramps up Semantics Proof of Concept Work
The EDM Council has this month indicated that it is considering a new fee-based service that would provide members with data quality rules that firms could embed in their quality review processes. The idea has gone to the association’s board for approval and if it receives the green light, will be discussed with the membership…
Reval Poll Shows Most End-User Costs Would Increase to Comply with Dodd-Frank
In a live webinar poll last week hosted by Reval, the premiere Software-as-a-Service provider for financial risk management, 68 percent of non-financial end-users of derivatives said that they do not have a Credit Support Annex (CSA) in place with counterparties to their OTC derivative contracts, indicating potential cost impacts for key compliance requirements expected under…