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A quick LEI roundup
A week can’t go by without someone asking me a question about the latest developments regarding the planned legal entity identifier (LEI) standard. So, for those of you that haven’t had time to read the Financial Stability Board’s (FSB) latest statement (check it out here), here are the highlights: – The planned implementation of the … Continue reading
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Given the scattershot of regulation that is liberally peppering the industry (I prefer that analogy to a tsumani – one assumes a wave is in some way joined up), it is no surprise that firms’ back and middle offices have a long list of concerns to be addressed over the next couple of years. The … Continue reading
Another one is swallowed up. Bloomberg’s acquisition of PolarLake this week (see the FT’s article in which I comment on the subject here) is yet more proof that data management is proving to be a draw for the vendor community at large. The fact that bigger fish in the data community (Markit, Bloomberg) are gobbling … Continue reading
Spending on legal entity data and the management of that data is set to rise, no doubt about it. However, given significant under-investment in this area by most players in the financial markets, the figures involved remain a fraction of the investment in the reference data arena overall. Anyone that claims that top tier firms … Continue reading
It’s true that I spend a lot of my time monitoring regulatory impacts on data standards, but another keen area of interest to me is the evolving post-trade landscape. How the move to central clearing will impact firms’ middle and back offices – margining, collateral, capital allocation etc. How much attention is being paid to … Continue reading
It’s certainly an interesting time to be writing about the data management industry – not only are regulations and market infrastructure dynamics shifting on a monthly (if not weekly) basis, the vendor community is also experiencing a rather turbulent time. Rumour has it Netik is up on the block for sale, SmartStream is also rumoured to have … Continue reading
April passed and a final decision on the future of the new legal entity identification (LEI) standard from the Financial Stability Board (FSB) was not forthcoming (in spite of its earlier promised deadline – see more here). However, the rumour on the street is that Swift is now out of the running for the role … Continue reading
My speaking slot at this week’s Swift Business Forum on the challenges and opportunities related to reporting to trade data repositories, during which I shared the stage with representatives from DTCC’s Deriv/Serv, Swift and Barcap’s derivatives back office, covered a range of serious issues for buy and sell side firms to consider over the coming … Continue reading
One thing I learned during my recent research effort on the road travelled thus far towards establishing a new global legal entity identification (LEI) standard was that there are still real hurdles ahead of the ISO-proposed standard on the table. Much like previous efforts gone by in the area of data standardisation, adoption of ISO 17442 … Continue reading
In lieu of a legal entity identification (LEI) standard issuing body, the Commodity Futures Trading Commission (CFTC) has taken matters into its own hands by calling for willing participants to put themselves forward to act as an interim provider of compliant identifiers ahead of the 16 July 2012 deadline for swaps data reporting. Rather than waiting … Continue reading
The European Commission has published a list of deadlines it ‘expects’ will be met before the end of the year, the most interesting of which from a capital markets technology standpoint are related to: new data retention rules; a pan-European framework for electronic identification; amendments to UCITS; the Securities Law Directive; close-out netting; central securities … Continue reading
There’s no doubt that the European Central Bank’s (ECB) Target2-Securities (T2S) planned single platform for settlement across Europe (well, not including settling in currencies like UK sterling or Swiss francs) will be a game changer. However, the endless delays (it is now slated to go live in the summer of 2015 after numerous delays over … Continue reading
Earlier this week I noted that the industry is facing a waiting game as a result of regulatory stalling with regards to key reforms (see here) and, as if to further prove my point, the Commodity Futures and Trading Commission (CFTC) announced yet another delay to the details related to its incoming derivatives requirements. The … Continue reading
It seems that the first quarter of this year is something of a waiting game for the financial services industry with regards to regulatory developments and details (much like last year was in many respects). Data managers engaged in overseeing counterparty and client data for firms active in the OTC derivatives markets, for example, are … Continue reading
Trading and clearing practices might have got the lion’s share of regulators’ attention (and the headlines) over the last few years, but it seems that the US Fed and the Securities and Exchange Commission (SEC) have adjusted their gaze further down the securities transaction lifecycle: namely, towards settlement. Now, it will be news to no one … Continue reading
In August last year, I summarised the proposals contained within the consultative report on reporting requirements for the OTC derivatives markets by the Comittee on Payment and Settlement Systems (CPSS) and the technical committee of the International Organisation of Securities Commissions (IOSCO). Today, the pair have released the final version of that report, which essentially … Continue reading
Earlier this week, I blogged about the Financial Stability Board’s (FSB) intention to get a proposal for a new legal entity identification (LEI) system on the table by April (see here). Now, the FSB is reaching out to the industry to lend a hand: it is looking for a “small number of experts” to provide … Continue reading
As many of you know, I’ve been taking an active interest in the legal entity identification (LEI) standards space for some time – in fact the subject crops up in Aite Group’s upcoming Top 10 for 2012 (keep an eye out for it on our website in the coming week). It was good news then, … Continue reading
The Financial Stability Board (FSB) has indicated that it currently working on its plans to introduce a new systemic risk monitoring framework for the shadow banking sector and a key deadline for this will be March this year. FSB chairman Mark Carney has been on the speaking circuit over the last couple of weeks talking … Continue reading
I have been banging on about the slow progress with regards to the appointment of a director for the Office of Financial Research (OFR) for some time. Names surfaced and then disappeared off of the list of potentials and there was much political to-ing and fro-ig over the last 18 months. But it turns out … Continue reading
It seems that firms are gradually waking up to the potential headache that is likely to be caused by the incoming compliance requirements from the US Foreign Account Tax Compliance Act (FATCA – though it looks like it’s missing an extra T on the end there…), the deadline for which is 2013. I’ve noticed a … Continue reading
Given the relatively slow pace of change within the corporate actions standards landscape, one would expect a correspondingly meandering pace within the corporate actions processing and data cleansing community. Not so, however. The last couple of years have seen a number of entrances and exits (and strategic repositionings) in the space. This week I caught up with … Continue reading
