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Odds On?
The more people I speak to, the more cynical I get about the future of the US Office of Financial Research. It seems that some are even close to running a book on how long it will be before the government backs away from the idea, given the changing political dynamics on Capitol Hill. In…
Starting 2011 with a Bang?
As well as the customary fireworks displays around the world, the start of 2011 has seen the transformation of what was once the Committee of European Securities Regulators (CESR) into the new (and supposedly improved) European Securities and Markets Authority (ESMA, see the new website here). But, apart from the obvious change in moniker, what…
SEI Expands Middle Office Services with Enhanced Pricing and Valuation Capabilities
SEI today announced that it has extended its array of middle office services by enhancing its asset pricing and valuation validation solution for investment managers. The solution, which leverages the independent valuation and pricing models of industry leading third party pricing providers, is designed to provide managers with more accurate and independent pricing verification. The…
Industry Has Until 22 February to Respond to CFTC’s Legal Entity Identification Proposals for the Swaps Market
Following on from the series of roundtables last year conducted by the US Commodity Futures Trading Commission (CFTC) to examine the data standardisation challenges underlying the provisions contained within the Dodd-Frank Wall Street Reform and Consumer Protection Act, the regulator has published a set of proposals in the Federal Register regarding the identification of counterparties…
Senior Supervisors Group Report Highlights Need for Better Management of Risk Data
The aggregation of risk data remains a challenge within most financial institutions, according to a report released last month by the Senior Supervisors Group (SSG), which is comprised of 13 regulatory bodies from 10 countries. The report, Observations on Developments in Risk Appetite Frameworks and IT Infrastructure, indicates that although many firms have kicked off…
CESR Champions Underlying Reference Data Standardisation in its Latest OTC Platform Trading Advice for MiFID
In its latest technical advice to the European Commission as part of the ongoing MiFID review, the Committee of European Securities Regulators (CESR) has reprised its data standardisation theme as the “preliminary step on the way to organised platform trading” of OTC derivatives. Progress within the front office is therefore predicated on getting the data foundations…
Opinion: Closing the Control Loop
By David Sherriff, chief operating officer of Microgen Despite some dramatic events in 2010, the global banking system was able to hold steady. Since the economic crisis took hold, the majority of banks have invested heavily in back office systems in order to tighten their financial control, yet the spotlight remains firmly on the City….
EDM Council to Launch New Operating Model, Cites ISO, Swift and GS1 as the Top Three Contenders for Entity Identification
The EDM Council has decided to restructure its operations under four main areas of business in order to better engage with the industry it is charged with representing: standards; best practices; engagement (with a focus on regulators and academia); and internal operations. A large proportion of the standards work will likely focus on the area…
What to Expect in 2011
What a year it has been for reference data management. Data quality has been such a high profile topic that it was discussed during one of the US House-Senate conference committees and, across the pond, was also championed by the European Central Bank’s (ECB) president Jean-Claude Trichet during a number of speeches over the course…
EU Capital Requirements Directive Update Specifies Minimum Data Standards for Risk Modelling
The European Parliament has finally published amendments to the Capital Requirements Directive in the Official Journal of the European Union, including an update to the internal risk modelling requirements that specifies that “minimum data standards” must be met. Highlighting the global regulatory focus on improving data quality, the update indicates that supporting data for internal…