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Thomson Reuters Returns to the EC with Revised Offer on RICs
Thomson Reuters has returned to the negotiation table at the European Commission with a revised offer on how it will ease licensing policies for Reuters Instrument Codes (RICs). The issue of access to security and other identifiers will be discussed in a panel session at A-Team’s forthcoming Data Management Summit in London on May 22…
Multiple Repositories Expected to Emerge for Derivatives Trade Reporting
Regulations requiring derivatives trades to be reported to data repositories are looming in the US and not far behind in Europe, yet uncertainty remains about what exactly must be reported, which firms must report and how many data repositories there will be on a global scale. Debating the problems and opportunities of reporting derivatives trades…
LEI Readiness – Instant Integration with Alacra Concordance
The idea of an LEI pre-dates the 2008 financial crisis by several decades. The ISO (International Organization for Standardization) had advocated an LEI (at one time called the IBEI – International Business Entity Identifier) for many years, but was unable to pinpoint an organization ready to build and maintain such a directory. For many securities…
Let’s Try Again for a European Consolidated Tape
Before there was Turquoise, there was Boat. And Boat, you’ll recall, was the industry’s answer to the then-incoming regulation designed to ensure that pan-European equity trades were reported to a mechanism available to all in a standardized way. This was required because Europe’s markets were about to fragment, due to the introduction of multilateral trading…
RICs as Catalyst for Financial Markets ‘App Store’
High on the long, long list of the late Steve Jobs’ acts of genius was his decision to go against his own instinct and open up the iPhone/iPAD to third-party developers to create the App Store, a true game-changer. That got me to thinking that Thomson Reuters and the EU could be missing a trick…
FSB Establishes Expert Group to Make LEI Implementation Proposals
Apparently addressing growing industry concerns about the prospect of delays in adoption of the long-awaited legal entity identifier (LEI), the Financial Stability Board (FSB) has set up an expert group to make what it describes as “concrete proposals” on the implementation of a global LEI system. At its meeting in Basel this week, the FSB…
T2S Connectivity Licences
On behalf of the Eurosystem, the Banca d’Italia has awarded two T2S connectivity licences, the first to SWIFT and the second to a consortium composed of SIA and Colt. As soon as the last administrative formalities have been completed, the two awardees will be invited to sign the Licence Agreement (LA) which is expected to…
Efama Applauds EU Commission Decision to Protect European ISIN Data Users
Efama (the European Fund and Asset Management Association) applauds the EU Commission decision to protect European ISIN data users to the extent possible under EU competition law. Efama stresses that this decision is a major victory for the European financial services industry which will save approximately $100 million per annum in ISIN license fees going…
Thomson Reuters Opens Up RICs to Address EC Antitrust Concerns
The industry has until January 25 to offer the European Commission feedback on Thomson Reuters’ proposal to allow clients to license its Reuters Instrument Codes (RICs) in order to access third-party and internal market data. Thomson Reuters made the proposal as part of its attempt to settle an EC investigation launched in 2009 into whether…
Thomson Reuters Welcomes the European Commission’s Market Test on Market Data Feed Initiatives
Thomson Reuters welcomes the decision by the European Commission to move forward with formal market testing of its proposal to extend usage rights of its Reuters Instrument Codes (RICs). Thomson Reuters believes that the extended usage rights will provide its customers useful support in managing their real-time market data needs in what is an increasingly…