A lot of progress may have been achieved this year with regards to moving towards a new legal entity identification (LEI) standard, including getting the G20 to pay attention to the work that has happened thus far (see more on which 
This week’s FIMA conference in London as usual saw industry practitioners discussing their recurring bugbears – IP rights within the vendor community, a lack of budget for more strategic data management projects (outside of those tied to compliance) and coping with the cost cutting exercises sweeping the financial services community – but it also involved a number of very interesting ideas being aired with regards to potential collaborative approaches in the data management space.
The International Organisation of Securities Commissions (IOSCO) and the Bank for International Settlements’ (BIS) Committee on Payment and Settlement Systems (CPSS) received 32 responses on the subject of data reporting, standards and aggregation for the OTC derivatives markets to its consultation. Following my summary of the first 16 responses earlier this week (see more 
Thomson Reuters has just completed the integration work involved in allowing Black Mountain Systems’ portfolio management system Everest clients to access the data giant’s DataScope Select pricing and reference data. Brian Buzzelli, head of pricing and reference data for the Americas region at Thomson Reuters, explains the details of the customised data integration process, which was kicked off at the request of Black Mountain clients.
Last week, I looked at some of the data reporting requirements related to the systemic risk oversight developments going on in the US with regards to scrutinising the hedge funds and private equity markets (see more 
The UK Financial Services Authority (FSA) has fined Credit Suisse’s UK operations £5.95 million for failing to maintain accurate records for its structured capital at risk products (SCARPs) and risk related systems and controls failures. According to the regulator, the private bank had inadequate systems and controls in place in order to assess its customers’ risk appetite and therefore did not accurately judge their suitability for investment in SCARPs, which are complex financial products that provide income to customers but also expose them to the risk that they may lose all or part of their initial capital.
Earlier this month BT Global Banking & Financial Markets’ head of industry initiatives Chris Pickles asked a number of questions about the legal entity identifier (LEI) project work that has been going on over the last 12 months (see the story 
By Chris Pickles, head of industry initiatives, BT Global Banking and Financial Markets
By Bill Meenaghan, global product manager for Alert, Omgeo
Last month, I looked at some of the data management implications of the incoming sequel to 2007’s MIFID: the Markets in Financial Instruments Regulation (MiFIR – see the blog 
At the weekend, the G20 indicated that the Financial Stability Board’s (FSB) powers with regards to systemic risk monitoring and data gathering would be increased to allow it to compile an annual review on how well financial regulations have been adopted across the G20 countries. And, at the end of last month, the European Systemic Risk Board (ESRB) published a decision on the provision and collection of information that is required in order to monitor systemic risk within the European Union. In both cases, basic reference data such as legal entity and instrument data will be essential to carry out these responsibilities.
As I previously predicted, the spectre of incoming regulation and the standards developments around a new legal entity identifier (LEI) were popular topics for discussion at yesterday’s Data Management for Risk, Analytics and Valuations (DMRAV) conference in London. Panellists and delegates alike discussed the changing dynamics within the data management universe that have meant much more investment and attention has been directed towards the function from both regulators and the industry as a whole. The LEI discussions in particular were also likely prompted by last weekend’s G20 pledge of support for the new identification initiative.
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The investment banking community’s Fixed Income Connectivity Working Group (FICWG) that last year created best practice recommendations for using the FIX protocol in electronic trading of interest rate swaps (IRS) and credit default swaps (CDS) is pushing its open standards initiative into electronic trading of cash fixed income products.
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