A-Team Insight Events combine A-Team's expertise in financial markets IT with thought leadership from world-class technology innovators and practical experience from financial market practitioners. In 2011, a quality constituency will once again gather for these focused events in London and New York City.
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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 here), but once the initiative reaches the implementation stage there are likely to be some delays, agreed a panel at this month’s FIMA conference in London. Elaborating on the challenges ahead, panellists including the European Central Bank’s (ECB) head of external statistics Francis Gross and Swift’s LEI implementation lead Sven Bossu, indicated that the intention is to have the new ISO standard published by January and a number of “lengthy discussions” have already taken place with regards to the issuance process and governance.
Another interesting topic from last week’s FIMA conference (see commentary on the vendor lobbying discussions here) was the discussion about how to ensure the profile of the data management function is sufficiently recognised as important, both within financial institutions – by the board and the business users downstream – and within the industry at large. The data management challenge may have been thrown into the spotlight by recent regulation and incoming data quality requirements, but is the industry in need of a champion to light the way?
Marc Berthoud, vice chairman of the Federation of European Securities Exchanges’ (FESE) Economics and Statistics Committee and deputy head of data and index products SIX Swiss Exchange, explained the details of the exchange association’s recent initiative in the market data space: the Market Model Typology (MMT), to delegates at last week’s FIMA conference in London. Berthoud indicated that the group is focused on developing standards for trade flags for trade condition reporting across all markets and OTC (see the FESE website for more here).
Earlier this week, GoldenSource indicated that longstanding client M&G Investments has upgraded its implementation of the EDM vendor’s platform (see the release here). Steve Engdahl, senior vice president of product strategy at the vendor, explains how the upgrade fitted into M&G’s Solvency II compliance preparations.
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 Financial Stability Board (FSB) has finally issued its first list of globally systemically important financial institutions (G-SIFIs) – a practice that it will reprise on an annual basis every November from now on – but what can these 29 firms expect in terms of new data requirements and when?
The European Central Bank (ECB) confirmed last week that it has opted for Sapient Global Markets to build its new asset backed securities (ABS) warehouse for Europe (see the release here). Kevin Samborn, who is lead architect on the warehouse project and is a consultant with Sapient Global Markets, and Randall Orbon, vice president with the vendor, explain the details of the project, which is due to be completed in the late summer of next year, to A-Team Insight.
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 here), here are the final 16.
The recent woes at UBS with its own Nick Leeson/Jerome Kerviel (delete as desired) style rogue trader and this month’s MF Global bankruptcy investigation into its customer data practices have both highlighted an important aspect of data management: control. Whether it be data and system access concerns, or those related to the treatment of customer data (and funds) in the correct manner, keeping a better handle on data is in the minds of both the regulatory community and the industry at large.
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.



















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