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Wednesday, September 17
SmartStream Launches TLM Process Management for OTC Derivatives
by
Sean Sprackling
on Wed 17 Sep 2008 10:58 BST
See Press Release below - SmartStream have also just released their Annual Newsletter with an article featuring yours truly which you can find here
Press release - 16 September 2008
SmartStream
Technologies, the Transaction Lifecycle Management specialist, today
announced the launch of TLM® Trade Process Management for OTC
Derivatives to support the operations of buy-side and sell-side
institutions and custodians. In response to rising transaction volumes,
confirmation backlogs and exception issues caused by manual processes,
TLM Trade Process Management for OTC Derivatives automates derivatives
transactions from the point of execution through to settlement
confirmation.
“The current levels of duplication due to manual
processing of derivatives are unsustainable with volumes rising across
every contract type. Institutions’ front offices are being constrained
by their inefficiency in the middle and back office, losing
opportunities to generate income,” said Steve Miller, Senior Product
Manager at SmartStream. “TLM Trade Process Management can help firms
overcome ... more »
Tuesday, September 16
Interactive Data to Provide Valuations of Complex Structured Products Through Exclusive Agreement with Prism Valuation
by
Sean Sprackling
on Tue 16 Sep 2008 12:01 BST
Strategic alliance with Prism Valuation,
which includes the purchase of a minority ownership stake, further
expands the breadth and depth of Interactive Data's market coverage BEDFORD, Mass. & LONDON, Sep 16, 2008 (BUSINESS WIRE) -- Interactive Data Corporation (NYSE: IDC), a leading provider of
financial market data, analytics and related services, today announced
an exclusive agreement between its Pricing and Reference Data business
and Prism Valuation. Under the agreement, Interactive Data Pricing and
Reference Data will now have the capability to provide valuations of
highly complex OTC derivatives and structured products as part of its
wide-ranging pricing and evaluation services.
Prism Valuation, which was founded in 2006 and maintains offices in
London, Melbourne and Toronto, provides valuations of complex OTC
derivatives and structured products based on a wide range of underlyings
including: interest rates, FX, inflation, equities, credit, commodities
and hybrids. Interactive Data's clients will
be able to request valuations ... more »
LCH.Clearnet set to develop world’s first multi asset derivatives clearing platform
by
Sean Sprackling
on Tue 16 Sep 2008 09:20 BST
London, 16 September 2008 LCH.Clearnet is set to develop the first multi asset derivatives clearing platform, Syn pse Clearing Technology (Synpse). Synpse
will be the only derivatives clearing platform with the capability of
supporting all exchange traded and most OTC contracts. Synpse is being designed to meet the demands of the world’s most advanced derivative exchanges and markets, benefits include: Scalability – Synpse will have the capacity to handle the world’s smallest and largest exchanges Speed
to market – the adaptability of the platform will enable some new
contracts to be launched within a week and entire new exchanges from
circa three months Flexibility - capable of handling diverse asset classes and a range of risk algorithms, Synpse will be tailored to suit each market's needs Economies of scale – one platform, serving multiple markets, will enable exchanges to benefit from economies of scale
Synpse ... more »
ISDA Comments On Recent Market Developments
by
Sean Sprackling
on Tue 16 Sep 2008 08:51 BST
NEW YORK, Monday, September 15,
2008 – The International Swaps and Derivatives Association (ISDA) issued
the following statement with regards to recent industry developments, including
the Chapter 11 Bankruptcy Petition filing by Lehman Brothers Holdings Inc.
“The current environment is
obviously a difficult period for industry participants,” said Eraj Shirvani, ISDA’s chairman
and managing director and head of European credit, Credit Suisse. “ISDA believes, however, that the industry’s
progress in building a strong foundation for our business will enable it to
successfully address current issues. The
privately negotiated derivatives business – including the credit default swaps
business – continues to function well in these times.”
“Over the past 25 years, ISDA and the
privately negotiated derivatives business have developed a robust, resilient
industry framework and infrastructure,” said Robert Pickel, the Association’s
chief executive officer. “Our collective
efforts to identify and reduce the sources ... more »
Monday, September 15
Lehman Bankruptcy Causes Massive Increase in Credit Default Risk
by
Sean Sprackling
on Mon 15 Sep 2008 16:14 BST
Well, what a hectic few days it has been. Everyone has known that Lehman's have been a huge counterparty risk for some while now - so much so that the industry was working on a sunday as ISDA organised a trading netting session to reduce risk to Lehman's yesterday. Despite this, spreads were always going to widen today, but there is still not unfounded fears that the whole of the CDS market may unravel. Benchmark indices of corporate credit risk rose by record
margins in London, and traded near an all-time high in teh US,
driven by a rise in Goldman Sachs Group Inc., Morgan Stanley and
American International Group. U.S. two-year Treasuries climbed,
pushing yields below 2 percent for the first time since April,
as investors sought the relative safety of government debt.
Lehman, a bastion of Wall St for generations, was one of the largest counterparties in the ... more »
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