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Citi Whitepaper Outlines the Top Five Issues OTC Derivative Investors Must Plan for in the Wake of Dodd-Frank Reforms
Citi announced today that it has released a new whitepaper that outlines the top five issues that OTC Derivative investors must plan for in the wake of Dodd-Frank reforms. “Ready or Not? Here It Comes: OTC Derivatives in the Post-Dodd-Frank Landscape – Implications for Investment Managers,” describes the challenges facing investment managers across operations and…
Global FX Division Announces Trade Repository Partner for Foreign Exchange Industry
The Global FX Division of AFME, SIFMA and ASIFMA announced today that its members are recommending a partnership with DTCC and Swift in order to develop a foreign exchange trade repository, where information can be stored electronically to provide additional transparency for regulators. This selection is the culmination of an extended evaluation, Request For Information…
SAS’ ‘Big Analytics’ Tackles Big Data, Speeds Problem Solving
A powerful new release of SAS software helps enable faster, better decision making by improving analysis of vast and growing amounts of data. Whether a retailer optimising pricing for thousands of items, a hospital identifying which treatment plans improve patient health, or a government agency fighting fraud, SAS, the leader in business analytics, helps organisations…
WMDatenservice’s Heer Talks up European Potential of New German Financial Instrument Documentation Standards
Germany has recently introduced a new product information standard, called Produktinformationsblatt (shortened to the acronym PIB), that is an extension of the concept of the Key Investor Information Documents (KIID) under UCITS and aims to standardise the formatting of product information for the benefit of investors. Markus Heer, managing director of German data vendor WMDatenservice,…
Thomson Reuters Survey Highlights Top Four Areas of Bank Concern for OTC Derivatives Regulation
The uncertainty surrounding upcoming over-the-counter (OTC) derivatives regulation is prompting concern amongst banks in four key areas, according to a recent survey by Thomson Reuters. The implications of the regulations on capital requirements, workflow, the cost to trade and liquidity for single-bank platforms were highlighted by banks as unknown outcomes of most concern resulting from…
New Warning Over Diverging Derivatives Rules
Proposed rules for derivatives trading could push up financing costs and create “material risks” for the global economy because of a lack of co-ordination, the US and European Union have been warned by the financial services industry. The warning is contained in a letter sent on Wednesday by eight leading trade associations – including the…
Associations Warn of Harmful Effects of Extra-territoriality
Eight global and regional trade associations today called on regulators to intensify cooperation to prevent, alleviate or limit the harmful effect of overlap, inconsistency and ambiguity resulting from extra-territoriality in regulatory efforts to implement G20 commitments. Extra-territoriality is a fundamental concern in derivatives business, where it is common for counterparties based in different parts of…
CFTC Publishes Two New Data Sets on Daily Net Position Changes
The U.S. Commodity Futures Trading Commission (CFTC) today announced the release of two new data sets that add further transparency to commodity futures markets. The new reports, entitled “Large Trader Net Position Changes” and “Trading Account Net Position Changes,” build on the CFTC transparency program initiatives. The data and explanatory notes, as well as average…
Legal Entity ID Working Paper Highlights Change in Regulatory Priorities and Potentially High Costs of Implementation
A recent working paper on the practicalities of establishing a legal entity identifier database highlights the tough challenges ahead and rather than promoting an extensive reference data collection exercise, it suggests that a ‘less is more’ approach is the only sensible way to proceed. The paper is a continuation of the research that was initially…
One Client Has Moved from 24% to 100% Data Quality Compliance via Omgeo’s SI Compliance Scan, Says Meenaghan
Omgeo has this month launched new functionality for its settlement and account instruction (SSI) database that Bill Meenaghan, global product manager for the vendor’s Alert platform, claims has allowed one client to move from 24% to 100% data quality compliance within a matter of weeks. The SI Compliance Scan functionality is therefore aimed at helping…