Data & Analytics

Firms still struggling with SEFs for swaps trading says IPC survey

Trading firms are still struggling with the Dodd-Frank requirement for certain swaps to be traded on registered Swap Execution Facilities. According to a survey conducted by trading communications vendor IPC Systems, 60% of survey respondents said the industry as a whole was behind on meeting the deadlines on SEF trading, though only 39% said their […]

CFTC calls for international swaps data sharing deal

Global standards and approaches to regulation need to focus more on removing risk from the financial system rather than on compliance – but to do so international regulators will need to harmonise their efforts and embrace technology to a much greater degree.

LEI update: hidden costs prevent enthusiastic take-up

Until the world has a definitive Legal Entity Identifier, we are going to have to recognise that piecemeal adoption brings with it significant hidden costs in validating, enriching and mapping for regulatory purposes. If the total number of registered market participants is meant to include all the corporates that trade FX forwards, we are far short.

Raincoats, taxis and the future of banking

What do taxis, the weather, mobile wallets and raincoats have in common? They are all potential variables in determining a person’s daily spend – and they provide a great opportunity for banks to use data to save customers money, according to Aman Narain, global head of digital banking Singapore at Standard Chartered.

Predicting the future in financial services

As data volumes continue to grow, being able to make greater use of the information enhances competitive advantage. The financial services industry is taking steps towards using predictive analytics technology to do just that.

FIX publishes guidelines for equities TCA

Industry standards organisation the FIX Trading Community has published its guidelines for transaction cost analysis in equities, which it says will help to create a better market by clearing up the competing methodologies and definitions that are currently in use.

ISDA begins radical overhaul of ISDAFIX swap rates

The International Swaps and Derivatives Association has set a date for the first stage of sweeping changes to the ISDAFIX benchmark for annual swap rates, as part of a major global push to clean up rates and make them more accountable.

Cost of KYC too high says Swiss start up

The rising cost of KYC at global banks is threatening to disconnect smaller regional banks and even entire countries, according to Joachim von Hänisch, head of Swiss start-up company KYC Exchange, which plans to launch next Wednesday.

LEIs and CDOs: why aren’t data professionals taking the reins?

With regulators agreeing that “higher expectations” must be met by G-SIFIs for risk data aggregation and reporting by 2016, firms are now under huge pressure to provide data strategies and implementation plans and end denial about any shortcomings.

The joy of Basel III

Basel III has transformed liquidity risk management departments into glorified regulatory functions, according to a new report by analyst firm Celent. As if this good news was not enough to be getting on with, the research house also inevitably concludes that banks will have to change their risk data, models, appetite, organisational and analytics frameworks too.

Mizuho International revisits reference data risk

Wrapping up all of the reference data a large global bank needs and making sure it is standardised, automated and ready for the regulator is a big task. Japanese bank Mizuho International has just installed an EDM service from vendor Golden Source, which it says will help to support trading and satisfy the regulator.

BBVA Asset Management picks Markit for EDM platform

BBVA Asset Management has chosen an enterprise data management platform from Markit, which will act as hub for its securities, portfolio, fund, issuer and position data in several countries, including Spain and Mexico.

Is it safe to trust the machines?

Bank algos may superficially appear to be well-tested – but the process may be open to any number of unexpected flaws, according to Steve Wilcockson, industry manager at big data specialist firm MathWorks.

Big banking is watching you

Online retailers have become sophisticated at observing customer behaviour, and then marketing based on the individual’s inclinations and past actions. Now, banks are starting to do it too. That could lead to some interesting scenarios, according to Charles Radclyffe, chief executive officer at business intelligence consultancy BIPB.

Banks rush to bolster compliance

Firms like JP Morgan and HSBC have taken major measures to improve internal controls so that they can comply with new and changing regulations. It won’t end there.

Bloomberg rolls out ‘actionable’ FX news service

Bloomberg has launched a new information service called First Word Foreign Exchange, which is designed to give FX traders ‘actionable’ news insight that they can quickly process and feed into their trading decisions.

Basel has triggered “infrastructure reset”

The Basel Committee on Banking Supervision’s April 2013 report, Monitoring tools for intraday liquidity management, has provided banks with the “trigger to reset their current infrastructures”, said Detlef Braun, senior consultant at vendor SmartStream.

Accuity rolls out flexible database tool

Two years on from the merger of Accuity and Bankers Almanac, the company has combined its counterparty and payment databases into a new tool that allows users to integrate them into their own workflows.

BAML builds single data repository

Bank of America Merrill Lynch (BAML) has completed consolidation of client transaction banking data from multiple systems into a single centralised data repository. The service will provide corporate clients with up to 14 months of data online or in file format.

Data management: Knowledge is power

Standardised data architecture at financial institutions is no longer a ‘nice to have’. Regulatory pressures and headline grabbing fines have rocketed enterprise data management to the top of the boardroom agenda.

Market surveillance: a watching brief

The US Securities & Exchange Commission is often accused of using skateboards to chase Ferraris in its attempts to keep up with trading houses, but less than a year after announcing that it intended to create a new market surveillance system – and six months after going live with it –  its cloud-based approach is […]

Risk data: can it be both efficient and compliant?

With six months before the 4th Capital Requirements Directive comes into force, many will be asking what technological improvements will be necessary to efficiently manage risk going forward. Before they embark on a costly overhaul of their data systems, firms should look at what regulatory trends are likely to require similar changes in the future and adjust their specification accordingly.

The battle for benchmarks: divisions in the ranks?

With lots of different regulatory benchmark efforts now underway, the industry could be forgiven for not taking a common stance. With IOSCO issuing final principles, ESMA and the EBA are simultaneously consulting on a European set of principles. Meanwhile the UK is moving ahead with its own reforms.

Twitter shakes up market: the impact of social media on algos

On 23 April 2013, the markets suffered a brief, sharp drop as algorithms reacted to “news” from the Associated Press’s Twitter handle that President Obama had been injured in a bombing attack at the White House. In a few minutes, the Dow Jones dropped 145 points, Standard & Poor’s 500 Index lost $136 billion in […]

Data structures hampering banks’ ability to monitor risk

According to a new white paper from Wolters Kluwer Financial Services, one of the key issues faced by data architects tasked with creating a unified data management infrastructure is the fact that operations in different countries often have different internal systems.