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COVID-19 Accelerates Buy-Side Outsourced Trading

October 18, 2020 By Chris Kentouris Leave a Comment

The COVID-19 pandemic is adding fuel to the fire of interest from some fund management firms in outsourcing the execution of their trade orders to third-party specialists. Over the past few years, fund managers have decided that outsourcing isn’t only for middle and back-office functions. It can also be used for trade execution with cost […]

Filed Under: Outsourcing, Risk Tagged With: Data, Fund Ops, Funds, Hedge Funds, Investment Ops, MiFID, Ops Risk, Outsourcing

Unique Product IDs: Next Challenge for Swaps Reporting

May 28, 2019 By Chris Kentouris Leave a Comment

Data operations, trade desk and regulatory reporting managers may soon have gear up for new administrative tasks — and potentially extra fees– when reporting their over-the-counter derivatives transactions to trade repositories using unique product identifiers. The UPIs mark the latest in an array of codes financial firms and trading platforms must use to describe the […]

Filed Under: Compliance, Data, Derivatives, Post-Trade, Reporting, Trading Tagged With: Data, Derivatives, MiFID, Regulators, Swaps

OTC ISINs: Few Users Pay Much More

January 15, 2018 By Chris Kentouris Leave a Comment

Trading venues, banks, and broker-dealers now know for certain how much more they will have to pay to create International Securities Identification Numbers (ISINs) for over-the-counter derivatives. It turns out that it’s a lot more. In a recent statement, the Derivatives Service Bureau (DSB) said that instead of a €65,000 annual fee, power users will have […]

Filed Under: Compliance, Derivatives, Infastructure, Post-Trade, Reporting, Rules, Slider, Trading Tagged With: Data, Derivatives, ESMA, Fund Ops, MiFID, Regulators, Reporting, Swaps

New Year’s Message: Pay More for OTC ISINs?

December 23, 2017 By Chris Kentouris Leave a Comment

Update 12/30/2017: This article has been updated to include more details about the DSB’s €8.8 million figure for overhead. Data, operations and vendor procurement managers whose buy- and sell-side firms need international securities identification codes (ISINs) for over-the-counter derivative contracts could end up with some bad news come January 15. Financial firms might discover they […]

Filed Under: Compliance, Infastructure, Regulations, Reporting, Slider, Trading Tagged With: Compliance, Derivatives, ESMA, FSB, Investment Ops, MiFID, Regulators, Reporting, Standards, Swaps

MiFID Challenge: Which OTC Derivatives to Report?

November 16, 2017 By Chris Kentouris Leave a Comment

To report or not to report over-the-counter derivatives under MiFID II. That is the question that compliance and regulatory reporting managers will face when it comes to deciding which trades to include in their transaction reports the day after trades are executed. The wrong answer could cost them hefty fines but finding the right answer will […]

Filed Under: Analytics, Compliance, Data, Derivatives, Reporting, Slider Tagged With: Compliance, Data, Derivatives, EMIR, ESMA, MiFID, Regulators, Reporting, Swaps

Unique Product IDs: Can the OTC-ISIN Win the Job?

October 19, 2017 By Chris Kentouris Leave a Comment

Can International Securities Identification Numbers (ISINs) become the foundation for unique product identifiers (UPIs)? The new Derivatives Service Bureau (DSB) which will allocate ISINs for over-the-counter  derivatives, appears to think so. It also thinks that it might be the organization issuing the UPIs, although it is willing to work with others. If such a scenario […]

Filed Under: Compliance, Data, Derivatives, Infastructure, Post-Trade, Reporting, Risk, Slider Tagged With: Compliance, Data, Derivatives, EMIR, ESMA, FSB, Hedge Funds, MiFID, Post Trade, Regulators, Reporting, Standards, Valuation

MiFID II: Reporting on Corporate Action Decisions

September 28, 2017 By Chris Kentouris 2 Comments

Update 11/27/2017: Under MiFID II, a financial firm must still report shares received as its entitlement from a voluntary corporate action even it never explicitly told the issuer its choice of payment. On November 12, in response to an inquiry from Scorpeo Analytics, the European Securities and Markets Authority (ESMA) said that investors may intentionally […]

Filed Under: Compliance, Corporate Actions, Data, Regulations, Reporting, Slider Tagged With: Corporate Actions, ESMA, MiFID, Reporting

MiFID II and GDPR: Finding Where the Twain Must Meet

September 26, 2017 By Chris Kentouris Leave a Comment

MiFID II and GDPR project teams had better get acquainted quickly. Although the objectives of the two European regulatory measures, might sound contradictory, financial firms must find a way to accommodate both, particularly when it comes to recording phone calls. They don’t have much time to create a strategy. MiFID II becomes effective in January […]

Filed Under: Compliance, Data, Rules, Slider, Standards Tagged With: Compliance, Data, ESMA, MiFID, Regulators, Standards

ISINs for OTC Derivatives: Is Licensing an Issue?

September 25, 2017 By Chris Kentouris Leave a Comment

Update 9/25/2017: Financial firms using ANNA’s new Derivatives Service Bureau to receive ISIN codes for OTC derivatives can expect to receive rebates for overpaying far more quickly, DSB officials now say. Likewise, financial firms will also have to fork over more money if they have underpaid. Instead of waiting until the end of 2018 to recalculate […]

Filed Under: Clearing, Compliance, Data, Derivatives, Infastructure, Regulations, Reporting, Slider, Standards, Trading Tagged With: Compliance, CUSIP, Data, Derivatives, EMIR, ESMA, MiFID, Post Trade, Regulators, Reporting, Standards, Swaps

MiFID II: Proving Best Execution Is Data Challenge

September 13, 2017 By Chris Kentouris Leave a Comment

With the arrival of MiFID II, trade execution will no longer be solely the concern of the trading desk. It will take a village of compliance, operations, portfolio managers, IT managers and even website designers for financial firms to prove they have met the best execution requirements of the second incarnation of the Markets in […]

Filed Under: Analytics, Compliance, Data, Investments, Reporting, Slider, Trading Tagged With: Brokerage Ops, Compliance, Data, ESMA, FCA, Fund Ops, Investment Ops, MiFID, Reporting

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