Omgeo Adds LEI Support to Alerts Via Avox
Post-trade services provider Omgeo now has support for the global Legal Entity Identifier (LEI) initiative via additional entity- and fund-level fields and data as part of its Alerts web-based global database for account and standing settlement instructions (SSI), officials say.The new LEI support comes via Omgeo’s partnership with Avox, a subsidiary of the DTCC. Avox provides the automated feed that populates Alert with entity-level CFTC Interim Compliant Identifiers (CICIs), officials say. The CICIs conform to the LEI standard and will transition to LEIs once the global LEI system is fully established. The CICI flow will populate confirmed investment manager and broker-dealer Alert accounts. Omgeo clients can view entity-level CICI information in Alert and their counterparties’ legal entity data via subscription. More than 900 entity CICIs have been automatically populated after Omgeo worked with individual clients to confirm their correct legal entity details and acronyms.
Omgeo officials add that Alert also supports the CFTC-issued fund-level CICIs and that clients can manually input their fund-level CICI and their large-trader identification to recently added open fields.
Smarsh Partners with Nasdaq OMX as Protegent Debuts Compliance Platform
Smarsh, an archiving and compliance vendor, has signed a new partnership with Nasdaq OMX to offer Smarsh’s archiving and compliance solutions for email and electronic communication to corporations, broker-dealers, exchanges and regulators, officials say. The Smarsh products will work alongside Nasdaq’s Smarts market surveillance and compliance solutions.
The combination of Smarsh and Nasdaq solutions is intended to help banks and securities firms to fine-tune their compliance and risk management plans globally, officials say. Users of both will be able to correlate trading data with employee and customer communication such as email, instant messages, mobile messages and social media posts. This capability addresses the need for firms “to manage ever-increasing volumes of data,” says Paul McKeown, vice president of market technology at Nasdaq OMX in a prepared statement. “Regulators are also recognizing the importance of risk management and surveillance across broader data-sets.”
In related news, SunGard has just released the Protegent Compliance Platform, a streamlining of regulatory compliance management that offers visibility for key compliance data through a single, consolidated interface, officials say. The platform has integrated core components to help firms reduce the time and resources for implementation, support and training. The web-based platform integrates with existing Protegent compliance solutions that target workflow, hierarchy, role and entitlement assignment, ad hoc and dashboard reporting, and system administration.
Misys Upgrades Sophis Value
Application and software services provider Misys has released an upgrade of a cross-asset portfolio and risk management system for the buy-side Sophis Value v5 that offers traditional and alternative asset managers more transparency into their operations including back-office processes, officials say.
The new features in Sophis Value v5 are:
A redesigned user interface that gives portfolio managers a dashboard that allows each user to build a personalized portfolio view from tools, risk analytics and modules;Advanced correlated stress testing that includes pre and post-trade compliance management and fully automated analytics such as VaR, tracking error, stress tests and risk reporting for real-time risk management with the integration of equity factor-based models with pricing-based models;Support for compliance with derivatives requirements in the Dodd-Frank Act and EMIR regulations, including order management system capacities for over-the-counter derivatives, connectivity to execution venues, capability to clear new trades and to novate the OTC instruments to facilitate straight through processing. The collateral management module now authorizes cross-asset portfolio initial margining. Asset managers also access to pre-deal workflows allowing them to manage approvals.More cross-asset and alternative investment coverageAn investment accounting module that supports multiple accounting frameworks and supports hedge accounting, which includes hedge efficiency back-testing.
Software AG Launches Platform-as-a-Service Suite
Software AG Live, a cloud-based platform-as-a-service (PaaS) suite, has launched to meet clients’ needs for creating cloud-based applications. The Software AG Live suite is comprised of:
AgileApps Live, an application and business process PaaS, for apps that can be deployed on mobile devices and will have pre-build integration across social networks;Process Live, a collaborative business process analysis PaaS, for collaboration across departments and geographies to improve requirements management and design of business processes. Based on the ARIS Business Process Analysis platform from Software AG, Process Live and will be available in the third quarter of this year;Integration Live targets integration in the cloud and connects with private cloud or on-premise enterprise service bus installations. Integration Live is built upon the webMethods ESB technology from Software AG and will be available in the first quarter of 2014;And Dynamic Cloud Scaling, a new version of Software AG’s webMethods ESB that now supports hybrid public cloud, private cloud and on-premise clouds, and will be available in the second half of 2013.
Polish and Russian Depositories Mull Closer Ties
The Central Securities Depository of Poland (KDPW) has signed a Memorandum of Understanding with the National Settlement Depository of Russia (NSD), marking the first step toward a future operational link, officials say.
The memorandum covers the terms of co-operation between the CSDs in their operations including exchange of information, cooperation in securities depository and settlement related matters to help foster the prosperity of their financial markets and promote cross border investment, officials say. Future initiatives could enable dual-listing of companies on the Warsaw Stock Exchange and the Moscow Exchange.
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