Omgeo Replaces Chief Compliance Officer

Post-trade services provider Omgeo has hired industry veteran Jeannie Shanahan to be its new managing director of governance, risk management and compliance replacing Kara L. Hill, who left her post as chief compliance officer to be vice president and deputy general auditor for the DTCC, confirm Omgeo officials. Hill joined the DTCC in January after 13 years with Omgeo.

FTF News recently spoke with Virginie O’Shea, an analyst with market research firm Aite Group, who covers data management and post-trade technology issues. In this Q&A, O’Shea focuses on the operational data management issues that are heating up as regulators apply pressure and margins tighten. She also references an upcoming Aite Group report on investment data management due out this week.

Q: What do you see as the biggest operational data management problem for securities firms?

A: The biggest operational data challenge is fitting separate data sets that are used to support the full range of a firm’s back, middle and front office functions into a common framework.

I got a snapshot of where hedge funds stand as far as outsourcing key operations during a panel discussion at FTF’s HedgeOps New York conference last month. It appears that there are some key do’s and don’ts emerging for external providers such as fund administrators and IT outsourcers. Firms are also developing more nuanced strategies for farming out operations.

ISDA Makes Board Chairmanship a Full-Time Post

The International Swaps and Derivatives Association’s board of directors has appointed Stephen O’Connor to an expanded, full-time chairmanship with a mandate to take a leading role in derivatives industry reform while “assuming a more active, hands-on involvement in driving ISDA’s strategic initiatives,” say ISDA officials.

A full-time chairman is needed to devote “more time and energy” to leading the association, ISDA officials say.

Commodity pools, private funds, banks and securities firms began the second phase of required clearing yesterday for Category 2 credit default and interest rate swaps and top U.S. clearing brokers serving as futures commission merchants are taking steps to help buy-side firms meet their requirements mandated by the CFTC.