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Reval Aims to Serve as Trade Repository for OTC Derivatives

In an effort to aid its corporate clients as well as the Obama administration’s plans to bring transparency to the US$592 trillion OTC derivatives market, Reval, a global provider of derivative risk management and hedge accounting solutions, has announced its intent to serve as a trade repository for OTC derivatives used by corporate end users….

Aim Software and Interactive Data Launch Sixth Edition of the Aim Global Reference Data and Risk Management Survey

Aim Software today announced the launch of its sixth international reference data and risk management survey. It is designed to provide insights into the trends, challenges and planned investments for reference data automation and risk management in 2009. The survey is sponsored by Interactive Data (Europe). As the global financial markets become accustomed to a…

CESR Elaborates on OTC Derivatives Identifiers for Transaction Reporting

The Committee of European Securities Regulators (CESR) has published a consultation paper recommending the adoption a set of identifiers and classifications for OTC derivatives for the purpose of including those instruments in the exchange of transaction reports amongst CESR members. These reports are currently exchanged between regulatory authorities via an IT system, dubbed the Transaction…

DTCC’s Donahue Champions Single Trade Repository for OTC Derivatives

Donald Donahue, chairman and CEO of the Depository Trust & Clearing Corporation (DTCC), today stressed that a single trade repository for OTC derivatives contracts is essential to mitigating risk and enhancing transparency in the market. Donahue made his remarks as part of his keynote address at a US Chamber of Commerce discussion titled “Modernising Derivatives…

Catalyst or Bureaucratic Encumbrance?

Does the industry really need a central reference data utility in order to achieve a greater level of standardisation across the market? Should the European Central Bank (ECB) be in charge of leading such a global initiative? Would a commercially focused venture be more successful in this endeavour? These are all questions that have been…

Buy Side Firms Must Take Heed of the Scale of the Changes Required as a Result of the OSI, Say TowerGroup and Capco

The buy side must understand and appreciate the urgency of preparing adequately for the incoming Options Symbology Initiative (OSI), said speakers during Capco’s recent webinar on the subject. The move to the Options Clearing Corporation’s (OCC) 21 character OSI code in order to support non-standard options will impact every level of a firm’s operations, warned…

Swift Selects Quantum4D to Provide Data Interface to SwiftNet

Swift is now using Quantum4D’s holographic analytics software platform to improve its ability to model its global network and understand its structure. Annually, as many as three billion messages go around the world via the Swift network. The challenge was to see how new developments in next generation interfaces might improve Swift’s ability to see…

Formal Working Groups Needed to Tackle Downstream Data Issues, Say Majority of Readers

Interoperability and integration between downstream systems and centralised data management systems has been an issue for some time and last year’s events have brought it into the spotlight. According to the results of our latest Reference Data Review reader poll it is not just the regulators that are concerned about this area, a lot of…

CGS and FOW Tradedata Launch Cusip Service for US Equity Options

Two months after the formal announcement of its partnership with UK-based futures and options specialist FOW Tradedata, Standard & Poor’s Cusip Global Services (CGS) business has launched its new Cusip Options Service for US listed equity options. The vendor began this year demonstrating an aggressive stance towards extending its reach into other areas of the…

DTCC Calls for Single Trade Repository for OTC Derivatives Contracts

The Depository Trust & Clearing Corporation (DTCC) has called for maintaining a single trade repository for OTC derivatives contracts during testimony before a subcommittee of the House Financial Services Committee. Larry Thompson, DTCC general counsel, said: “We are concerned that some in the OTC derivatives market may assume once a trade guarantee is provided through…