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Thursday, January 29

Asset Control-Sponsored White Paper Highlights Buy-Side Challenges and Data Management Impact

by Sean Sprackling on Thu 29 Jan 2009 15:11 GMT

Press Release: 29 January 2009

Asset Control, a world-wide leader in financial data management solutions, has released a new white paper completed by London-based Lepus management consultancy, on the changing buy-side landscape and impact on data management practices as a result of the current financial crisis and other significant industry changes over the past several years.

Entitled “Establishing Control: Buy-Side Data Management in a Changing Landscape” and derived from Lepus’ industry search studies on the subject, the paper highlights several key trends and data management obstacles as they relate to price transparency, volume growth, expansion of asset coverage, and the post-MiFID world:

• Ultimately, managing price data is a universal challenge facing buy-side institutions holding OTC derivatives. Until a sufficient source of pricing and valuation is established, data collection, especially for complex instruments, remains largely manual and time consuming. Standardized, integrated and quality-controlled data is needed to create a clean ... more »

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Saturday, January 17

DTCC increases CDS data provided from Trade Information Warehouse

by Sean Sprackling on Sat 17 Jan 2009 11:06 GMT

The Depository Trust & Clearing Corporation (DTCC) announced today that, in its ongoing efforts to enhance transparency in the market for over-the-counter (OTC) credit derivatives, it is expanding the data its DTCC Deriv/Serv unit publishes on credit default swaps (CDS) registered in its Trade Information Warehouse (Warehouse) to show additional detail on weekly transaction activity.

The Warehouse is the market's only central trade registry and industry-recognized infrastructure for credit derivatives trades.

Starting Tuesday, January 20, the contract data posted on DTCC's website, at dtcc.com/derivserv, will include a new Section III covering weekly trading activity registered in the Warehouse-such as new trades, terminations and assignments-for the previous week, in terms of gross notional values as well as number of contracts. This data will be provided in the aggregate as well as for single-name reference entity sectors and for major indices.

DTCC began posting gross and net notional values and numbers of ... more »

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Tuesday, January 13

DTCC DerivSERV to support all CCPs for credit default swaps

by Sean Sprackling on Tue 13 Jan 2009 06:49 GMT

In an effort to bring greater certainty and safety to the market for credit derivatives, The Depository Trust & Clearing Corporation ("DTCC") today announced it will support all central counterparty ("CCP") solutions for credit default swaps, in a non-discriminatory manner, with its Trade Information Warehouse, whose capabilities include central net settlement and asset servicing.

Through its DTCC Deriv/SERV subsidiary ("Deriv/SERV"), the company is currently working with ICE Trust/The Clearing Corporation, CME/Citadel, LIFFE/LCH, and Eurex to facilitate their efforts to provide CCP services trade guarantees for credit default swaps ("CDS").

The Trade Information Warehouse ("Warehouse"), as the market's central registry and industry-recognized post-confirm infrastructure for credit derivatives, is optimally equipped to support any and all CCPs that are established in the CDS market. Virtually all dealers and buy-side participants along with 15 third-party service providers in the global CDS market are already linked to the Warehouse and utilize its functionality.

"From ... more »

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Wednesday, January 7

EU hits snag in OTC Clearing deadlines

by Sean Sprackling on Wed 07 Jan 2009 14:06 GMT

Unsurprisingly given the tight timelines set and the involvement of politicians, the plans for setting up central clearing for OTC credit derivatives in Europe have hit a problem. Originally it was planned to have this up and running by mid 2009, however both sides are already starting to blame each other for the delay. "A firm engagement was expected from the involved industry and regulators. This engagement has not been given," a spokesman for EU Internal Market Commissioner Charlie McCreevy said. The original agreement was made on December 10th last year but the deal has collapsed, according to some of the dealer banks, because McCreevey and the EU are insisting that any European-based contracts must be cleared within Europe and not therefore in the US at ICE or the Clearing Corporation - thus restricting the options for global dealers. "There are a variety of solutions for clearing. The EU is ... more »

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