The Sibos Vendor Agenda: SIX X-clear’s Strimer on Risk Management and Swift

Risk management is likely to top the agenda as the most talked about subject at this year’s Sibos conference, says SIX x-clear’s CEO, Marco Strimer. The financial crisis has raised the profile of risk in the minds of both regulators and industry participants and this is likely to be reflected in the conversations on the exhibition floor and auditorium sessions in Hong Kong in September, he explains.

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11 Aug 2009
 
 
Siloed Approach to Risk is Dangerous, Say SII Conference Panel

The siloed nature of the risk management function was largely to blame for the financial crisis, agreed risk management panellists at the Securities & Investment Institute’s (SII) Annual Conference in London at the end of June. A lack of a coordinated approach to risk management represented a “fundamental flaw” in the vetting of financial products, John Tattersall, partner at PricewaterhouseCoopers, told delegates.

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07 Jul 2009
 
Operational Risk Gaining Profile as a Result of Reduced Headcounts, Says ICAEW and SunGard

Far from languishing at the bottom of the priority list, operational risk is getting its day in the sun as a result of supply chain issues and the impact of redundancies on business effectiveness, according to SunGard and the Institute of Chartered Accountants in England and Wales (ICAEW). Attendees to a recent event organised by SunGard and ICAEW indicated that they are facing a higher level of operational risk this year as a result of market events.

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26 Jun 2009
 
European Regulators Agree Broad Principles for Reform, More Reporting Requirements on Their Way…

Last week, European Union finance ministers met to discuss the future of regulation in the region, with a view to putting into action the plans that have been tabled over the last few months. The leaders agreed broad principles for establishing two new supranational financial supervisory bodies, as per the de Larosière’s report’s recommendations, and industry participants can expect more reporting requirements to be headed their way soon.

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22 Jun 2009
 
Liquidity Risk – Are You Prepared? FREE - A-Team Wire

18 Jun 2009
 
Goldman’s Blankfein Praises Mark to Market Accounting as Early Warning Signal

Despite the market’s apparent aversion to mark to market accounting, Lloyd Blankfein, CEO of Goldman Sachs, this week spoke about the benefits of the rules, which he said could have provided an “early warning” of the financial crisis. Speaking at the annual International Organisation of Securities Commissions (IOSCO) conference in Tel Aviv, Blankfein said the practice of marking to market, or reporting assets at their current market value, meant that institutions were forced to face up to their losses.

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12 Jun 2009
 
Nationally Focused Regulatory Measures Undermining Standardisation Process, Say Speakers at IOSCO Conference

Measures by national regulators in reaction to the financial crisis are undermining progress towards global standardisation, according to speakers at this week’s International Organisation of Securities Commissions (IOSCO) conference in Tel Aviv. Eddy Wymeersch, chairman of the Committee of European Securities Regulators (CESR), told delegates it would be difficult to get a coherent system of international cooperation back on track once the crisis has ended as a result of uncoordinated national overhauls.

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12 Jun 2009
 
CSDs Continue to Display Concern About Uncertainties Surrounding T2S

Three key issues remain a sticking point for the European Central Bank’s (ECB) Target2-Securities (T2S) settlement platform, according to speakers at last month’s Sifma Clearing and Settlement conference in London. Central securities depositories (CSDs) in the region are concerned that there is still a great deal of uncertainty about the future pricing structure of the platform, its planned expansion outside of the euro and potential issues regarding the governance of T2S.

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22 May 2009
 
Transparency, Granularity of Data and Coverage are Key Issues in Current Market, Says Valuations Vendor Community

The financial crisis has resulted in a flurry of activity in the valuations vendor community to take into account the market requirements for increased transparency and greater granularity of data, agreed speakers at last month’s Valuation and Risk 2009 conference in London. Ian Blance, industry consultant and conference chair, told delegates that it is no longer acceptable to devolve the valuations function completely to a single third party provider and financial institutions are now being compelled to prove that they understand the modelling behind the prices.

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20 May 2009
 
 
CESR’s Wymeersch Muses on Future of Market Regulation and Risk Management

The Committee of European Securities Regulators (CESR) is currently evaluating whether recent measures to rescue financial institutions and restore confidence in financial markets is the right avenue to continue down in the long term, said CESR chairman Eddy Wymeersch, during last month’s Sifma Clearing and Settlement Conference. The regulator is examining the impact of government rescues of financial institutions on competition in the markets in particular and the effect of government funding on inflation, he explained.

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15 May 2009
 
Financial Stability Board’s Draghi Outlines Broader Mandate and Membership

Earlier this month, Mario Draghi, chairman of the recently launched Financial Stability Board (FSB), which is the new incarnation of the Financial Stability Forum (FSF), explained the changes that have been going on within the organisation as a result of the recent G20 decisions and the financial crisis. The changes include an expanded membership and a broadened mandate to promote financial stability, Draghi told delegates to the International Centre for Financial Regulation’s (ICFR) London summit at the start of April.

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20 Apr 2009
 
SEC’s Ratings Roundtable Agrees to Change Fee Structures for Ratings Agencies

This week’s long awaited Securities and Exchange Commission (SEC) roundtable on the future of the ratings agencies threw up very few surprises. The regulator’s chairman Mary Schapiro confirmed that the agency is planning to change the way that ratings agencies are paid to minimise the potential of conflicts of interest and roundtable participants agreed there was still “much to do” to improve the practices of this sector of the vendor community.

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17 Apr 2009
 
EuropeanIssuers’ Fransens Calls for EU-wide Framework for Shareholder Communication

Issuers and shareholders have been disintermediated from each other and this has resulted in a requirement for the introduction of a framework for shareholder communication and cross border voting, according to Dorien Fransens, secretary general of EuropeanIssuers. Speaking at last week’s gathering of the European issuer community, organised by Aktienforum and EuropeanIssuers, Fransens elaborated on the need for greater standardisation in the corporate actions world.

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09 Apr 2009
 
G20 Leaders Pledge to Crack Down on Hedge Funds, Ratings Agencies and Tax Havens

Following months of preliminary talks, this week’s Group of 20 meeting saw global leaders come together to debate the future of financial regulation, among other topics of course. The group agreed to extend regulation and oversight to “all systemically important financial institutions, instruments and markets”, which includes hedge funds and ratings agencies.

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03 Apr 2009
 
Lack of Standardisation Remains a Sticking Point for Counterparty Data Management, Says Panel at A-Team Group, Asset Control and Avox Event

The topic of counterparty risk is no stranger to the headlines at the moment but, despite its high profile, counterparty data management has still got a long way to go, according to speakers at a recent event organised by A-Team Group, Asset Control and Avox. Martijn Groot, director of market strategy at EDM vendor Asset Control, explained to attendees to last week’s “Counterparty Risk in the Spotlight” event in London that recent market events have acted as the “ultimate stress test” for this sector. He highlighted the many gaps in counterparty data management capabilities that exist in financial institutions.

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03 Apr 2009
 
A-Team’s BA Baracus to Discuss Risk Management Trends at A-Team Group Event

Next month’s Risk & Regulation IT roadshow will see delegates being educated on the finer points of risk management by none other than Sergeant Bosco Albert ‘BA’ Baracus. The actor, otherwise known as Mr T, will be guest speaking at the event in London on 1 May.

“I pity the fool that doesn’t pay attention to their risk modelling and analytics,” T explains.

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01 Apr 2009
 
Pricing Partners Talks up Jump Diffusion Models at MathFinance Conference

Valuations provider Pricing Partners told delegates to this month’s MathFinance Conference in Germany about its recent work towards achieving smart expansion and fast calibration for jump diffusion models. The vendor promoted its recent work on approximation methods using its smart expansion method to calibrate jump diffusion models to attendees to the quantitative finance event last week.

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31 Mar 2009
 
Bankers Warn UK Government to Avoid Protectionism and Knee Jerk Response to Crisis

As reported in Risk & Regulation IT earlier this month, the British government this week conducted a meeting of major US, European and Japanese banks in London to discuss the future regulation of the financial markets. The bank chief executives present at the meeting warned UK prime minister Gordon Brown against a knee jerk reaction to the financial crisis and underlined the need to avoid national market protectionism.

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27 Mar 2009
 

 

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