B.I.S.S. Research, a UK research firm providing benchmarking of services and systems in the financial services sector, yesterday announced that Rhyme Systems, a provider of asset management solutions, is the latest company to achieve the B.I.S.S. MiFID Accreditation for 'rhymeSIGHT', its investment administration platform for the asset management industry.
Ed Balls MP yesterday announced measures at the second meeting of the Chancellor's High Level Group on City Competitiveness which will modernise the tax system to remove obstacles to competition and expand choice in trading financial instruments in the UK.
A report published by JWG-IT, a think-tank for EU-driven IT change in financial services, has found that there are widespread gaps in current infrastructure which financial institutions need to fill in order to meet key MiFID changes. The most significant gaps lie in transaction and trade reporting, customer data management, best execution and record keeping, the report finds.
Market surveillance specialists Smarts Group have signed a contract with Oslo Bors and the OMX exchanges to provide software and support services for market surveillance to all exchanges in the Nordic and Baltic regions.
SuperDerivatives, an options and derivatives solution provider for option pricing, independent revaluation, trading and risk management systems, has announced that it has partnered with Microsoft for its integrated MiFID solution suite for OTC Options.
Mantas, a business of i-flex solutions and a provider of regulatory compliance, loss prevention and revenue generation solutions, has launched Mantas 5.0, the latest version of its suite of behavior detection solutions. Examples of new scenarios include support for asset management firms and anti-money laundering (AML) solutions for insurance companies. Advanced user interface and document management features provide users with unparalleled access to information. Mantas also added enhancements to facilitate technology upgrades and integration with industry-leading middleware from Oracle and IBM.
The UK regulator, the Financial Services Authority (FSA) yesterday published its Business Plan for 2007/8, which sets out its priorities for the coming year. It promises higher charges to regulated firms, but a continuing switch to principles-based regulation.
Marc Lackritz, the co-CEO of the New York-based Securities Industry and Financial Markets Association (SIFMA), told a London conference on Thursday that regulators everywhere, but UK and US regulators in particular, need to adjust their regulatory approaches to take account of the reality of transatlantic capital flows.
BIDS Trading, the alternative trading system (ATS) created by a consortium of US investment banks to service the US equity block trading market, has named industry veteran Richard Levin as General Counsel, Chief Compliance Officer and Secretary to the Board of Directors.
The UK financial services regulator, the Financial Services Authority (FSA) has called on financial services firms to improve the stress testing of their businesses after its financial risk report highlighted the greater impact a shock could have were it to happen in the next 18 months.