The Global Legal Entity Identifier Foundation (GLEIF) will be taking over the accreditation process for organizations that issue Legal Entity Identifiers (LEIs) via a new program that supersedes the efforts of the LEI Regulatory Oversight Committee (LEI ROC), say GLEIF officials. However, the new accreditation process is retroactive and could mean that some of the… Read More >>
ISDA and ICE Take On Margining for Non-Cleared Derivatives
A key subsidiary of the Intercontinental Exchange (ICE), the owner of NYSE and other exchanges, has been tapped by the International Swaps and Derivatives Association (ISDA) to help market participants meet new margining rules for non-cleared derivatives through the usage of a crowdsourcing utility. By reaching out in this way, the ICE Benchmark Administration (IBA)… Read More >>
Top Wall Street Firms Begin Overhauls for T+2
Some of the largest buy- and sell-side firms have begun the hard work needed to revamp infrastructures, workflows and budgets to facilitate the move to the shorter T+2 settlement cycle, according to participants at the recent T+2 Symposium, hosted by the Securities and Financial Markets Association (SIFMA). Key industry players, including SIFMA, the DTCC and… Read More >>
ISDA Pushes for a Derivatives Product ID Standard
Derivatives trading advocate the International Swaps and Derivatives Association (ISDA) has launched a symbology project intended to provide an industry-wide, open-source standard to help all derivatives facilities such as trading venues, clearinghouses, repositories and other infrastructures meet regulatory needs. The new industry data project is charged with developing an open-source standard derivatives product identification system… Read More >>
ISE Board Adds Members from Barclays, Morgan Stanley
The International Securities Exchange Holdings, Inc. (ISE) announced the addition of Eric Levine and Tyler Sorba to the boards of directors of its two exchanges. Levine, a director and head trader of Barclays’ automated volatility trading group, was appointed to represent ISE’s Competitive Market Makers (CMMs), officials say. Levine joined Barclays in 2008 through its… Read More >>
Wolters Kluwer Taps Daiwa to Fill EMEA Post
Professional services vendor Wolters Kluwer has hired Paul Lyon from Daiwa Capital Markets, the investment banking arm of Japan’s Daiwa Securities Group, to fill the newly created role of director of corporate communications for Europe, the Middle East and Africa (EMEA), officials say. Lyon will be based in London and asked to “develop and execute… Read More >>
Citi Appoints NYU Dean as Independent Director
Citigroup Inc.’s board of directors reports that it has elected Peter Blair Henry as a new independent director, with his term beginning July 1, 2015. Henry is the dean of New York University’s Leonard N. Stern School of Business and an international economist who specializes in emerging economies, according to a Citi statement, which notes… Read More >>
Wolters Kluwer Adds OneSumX Strategy VP
Wolters Kluwer Financial Services reports that industry veteran Richard Reeves has joined as vice president of strategy for its governance, finance, risk and compliance (GFRC) solution suite, OneSumX. Reeves will “work directly with Wolters Kluwer Financial Services’ product management, sales, marketing and business development teams to help customers across the globe utilize OneSumX to address… Read More >>
New Chief Revenue Officer for Compliance Science
Governance, risk management and compliance vendor Compliance Science has added a new chief revenue officer (CRO) and moved to a bigger office, following “the rapid expansion of Compliance Science’s market share … resulting from insider trading concerns continuing to proliferate” across the industry, a spokesperson says in an email. In his new role as CRO… Read More >>
CFTC Wins $1.2B in Restitution for M.F. Global Clients
On Christmas Eve, the CFTC is bringing good tidings to those clients left in the lurch by the bankruptcy of MF Global Holdings Ltd. (MFGH). The regulator via the federal court in New York is ordering MFGH to pay $1.212 billion in restitution for the unlawful use of customer funds and to pay a $100… Read More >>
