Celent predicts that the operational risk and compliance market will grow to $1.16 billon by 2009.
Risk-driven regulatory initiatives, like Basel II and the Sarbanes-Oxley Act, have significant momentum and are giving rise to new operational risk management practices, says the consultant.
In 2007 credit derivatives markets will continue to grow in terms of outstandings, and in the range of instruments on which they are based, but look out for the impact of private equity financings on credit quality. These were chief among the conclusions of an OTC derivatives media briefing hosted by GFI Group - an inter-dealer broker specializing in OTC products - in New York City shortly before Christmas.
Inter-dealer brokerage firms GFI Group and ICAP have joined forces with The Clearing Corporation of Chicago to develop clearing services for over-the-counter (OTC) derivative instruments, including credit and interest rate derivatives.
OTC derivative valuations vendor SuperDerivatives says that Grant Thornton Greece has licensed a comprehensive set of its tools, including all of its option pricing and analytics platforms. It will serve as the basis for the firm's audit work surrounding IAS39, IFRS 7and UCITS III and in preparation for the MiFID regulations.
Interwoven, the owner of the Scrittura messaging technology that enables buy and sell-side clients to communicate details of OTC derivative transactions without manual processing, says its clients will now be among the first to have access to the full range of post-trade processing services provided by the Depository Trust & Clearing Corporation (DTCC) through the Deriv/SERV Trade Information Warehouse the American CSD unveiled last month.
The Spanish Financial Futures and Options Exchange, MEFF, says Deutsche Bank Madrid has joined the exchange as a direct clearing member, and Fortis Bank Madrid has joined as a custodian clearing member. Liquid Capital Securities and Nomura International, both of which are based in London, have joined as trading member
Quantifi, a provider of analytics and risk management solutions to the global credit markets, has released Quantifi Version 8.5, a toolkit for the pricing and risk assessment of credit derivatives. "Version 8.5 provides several key enhancements including third-generation base correlation technology essential for pricing some of the more recently developed portfolio credit products," says Rohan Douglas, CEO, Quantifi.
The Depository Trust & Clearing Corporation (DTCC) has appointed CLS Bank International (CLS) to provide central settlement of payments for over-the-counter (OTC) derivatives contracts housed in the Trade Information Warehouse it launched earlier this week. The aim is to provide an integrated global payment processin
The Depository Trust & Clearing Corporation (DTCC) has launched a Trade Information Warehouse, which it claims will reduce the manual component in post-trade processing of over-the-counter (OTC) derivatives transactions. DTCC announced its plans to build the warehouse in February this year. Since then, a DTCC team ba