AxiomSL, a provider of regulatory reporting and risk management software, reports the launch of a solution that will enable banks to comply with Austria’s new Smart Cube reporting requirement, which will be implemented by the Oesterreichische Nationalbank (ONB), the country’s central bank, and will take effect June 15, 2015. The Smart Cube system is meant… Read More >>
Fund Recs Partners with CloudMargin
Cloud-based reconciliation software provider Fund Recs has partnered with cloud-based collateral management software provider CloudMargin to offer a cloud-based collateral management and portfolio reconciliation platform, officials say. Fund Recs will add its operational control and key collateral dispute resolution tool of portfolio reconciliations — a requirement under the European Market Infrastructure Regulation (EMIR) – into… Read More >>
Lombard Upgrades Colline Platform
Financial technology provider Lombard Risk Management has released a new version of Colline, the company’s collateral management, clearing, inventory management and optimization solution, officials say. “There are many regulatory issues such as Dodd-Frank/EMIR, IOSCO and Basel III that firms need to adhere to,” says John Wisbey, CEO, Lombard Risk in a prepared statement. Colline aims… Read More >>
Misys: Regulatory Reporting Still Dominates
Q: What SWIFT-related product trends have you seen among your clients for this year? A: The big trend we’ve seen from our European financial institutions, as well as a few NA [National Association] corporations with European subsidiaries, is the requirement for regulatory reporting. Not only is there a need for service providers to route information… Read More >>
Broadridge: EMIR, Corporates Driving SWIFT Messaging
Q: What SWIFT-related product trends have you seen among your clients for this year? A: One of the big drivers was the EMIR [European Market Infrastructure Regulation] regulation — a large number of our clients use SWIFT messaging and the SWIFT network to run their reporting for this. We have also noticed corporates extending their… Read More >>
EMIR Blesses CME Clearing Europe
CME Group, the derivatives exchanges operator, reports that its European clearinghouse, CME Clearing Europe, has received authorization under the European Market Infrastructure Regulation (EMIR) as a central counterparty clearing house (CCP). The authorization covers all over-the-counter (OTC) derivatives and futures products currently cleared by CME Clearing Europe, including interest rate swaps, energy and commodities, and… Read More >>
Thomson Reuters Bolsters KYC Service
Market data and news giant Thomson Reuters has launched an “end-to-end user interface” to support a know your customer (KYC) on-boarding and remediation managed service offered via the identity clearinghouse Accelus Org ID, which launched in March, officials say. Accelus Org ID can be used to create an accurate identity record that works as a… Read More >>
ISDA Defines a New Credit Event as Gaia and Numerix Take on EMIR
New Credit Event Part of ISDA’s 2014 Derivative Definitions The 2014 ISDA Credit Derivatives Definitions to come in September will introduce several new terms and a new credit event that would be triggered by a government bail-in of a financial reference entity, according to the International Swaps and Derivatives Association. The version to come in… Read More >>
TowerGroup finds firms are a mix of contradictions as Electra and Eagle forge an alliance
TowerGroup: User Firms a Mix of Recs Contradictions Financial services firms are a mix of contradictions when it comes to reconciliation, according to a new survey conducted by CEB TowerGroup Research. Executives responding to the survey say they have hope that there could be enterprise-wide reconciliation and exception management solutions. But they also admit that… Read More >>
