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Credit Suisse Adopts SSPA Terminology for Structured Products
Credit Suisse announced today that from the start of January 2011, the bank will align the terminology for its structured products with the categorisation model of the Swiss Structured Products Association (SSPA). This step is a measure to increase coherence of terminology and the comparability of products in the future. Credit Suisse has decided to…
Swift Contemplates Use of Online Platform for Collaborative Standards Development
Swift has spent a lot of this year focused on honing its standards development message for the market and, in this vein, lead standards analyst Tom Alaerts has suggested that the industry network operator could use social media and an online platform to improve the standards development process itself. By providing a forum for open…
Fortune SGAM Adopts Omgeo Alert and Omgeo CTM Via Hundsun
Omgeo, the global standard for post-trade efficiency, today announced that Fortune SGAM, one of China’s leading investment management firms, is the first company to go live on the Omgeo-Hundsun interface for cross border post-trade processing. The Omgeo-Hundsun interface was established in June 2010 after the two companies entered into a global alliance agreement the previous…
CFTC and SEC Seek Input on Joint Proposals for New Algorithmic Descriptions for Complex and Standardised Derivatives
In line with the Dodd-Frank Act’s push to get derivatives onto exchanges and centrally cleared, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have set up a joint study to examine the feasibility of adopting new standardised computer readable codes to identify complex and standardised derivatives. The request for comment…
Omgeo ALERT Furthers Market Leadership with More Than 500,000 Funds Represented Globally
Omgeo, the global standard for post-trade efficiency, today announced that Omgeo ALERT, the world’s largest and most compliant web-based global database for the maintenance and communication of standing settlement and account instructions (SSI), has experienced unprecedented client growth going into 2011 with over 1,700 clients globally. As a result of continued market turbulence and regulatory…
UBS’ Berry Sounds Call for an End to Vendor Identifier Complexity via Regulation, Again
In keeping with his work for the Information Providers User Group (IPUG), David Berry, executive in charge of market data sourcing and strategy at UBS, called for an end to vendor complexity by eliminating the use of proprietary instrument identifiers. “Vendors introduce complexity into the market by attempting to differentiate themselves on the basis of…
Goldman’s Perry Highlights Instrument Data Challenges of the OTC Derivatives Reforms Within Dodd Frank
The reform of the OTC derivatives markets as part of the US Dodd Frank Act will likely cause a whole heap of instrument identification challenges, according to Jim Perry, vice president of product data quality at Goldman Sachs. Speaking at last week’s FIMA conference in London, Perry indicated that the central clearing of these products…
A Data Manager’s Christmas List
Not only is Reference Data Review providing you with your usual Christmas stocking full of news and analysis this year, we’ve also taken on the delivery of wish lists to Santa’s grotto in Lapland (or thereabouts). One of our brave readers has written in with his list of requests for the man in red, should…
US SEC Adds More Data Requirements to its Proposed Hedge Funds Rules
The US Securities and Exchange Commission (SEC) has added a further set of data disclosure requirements to those it is proposing for the hedge funds market as part of the Dodd-Frank reforms. Under the proposed reforms, more organisational and operational information will be needed for SEC registration purposes from investment advisers and the private funds…
Does the World of Valuations Need Common Data Formats?
The need for data standardisation is well understood in many areas of reference data (albeit poorly implemented or non-existent in actuality – concept rather than reality being the operative word), but the world of valuations data has largely remained untouched by standardisation initiatives to harmonise vendor formats. Guy Sears, director of Wholesale at the Investment…