ON THE MONITOR
SIFMA Tech 2010: Preparing to Monitor Systemic Risk
June 18, 2010
The Securities Industry and Financial Market Association’s technology conference this week will serve to highlight the technology spending and operational changes which financial firms will have to undertake to try and ensure that a financial crisis like that of 2008 and 2009 does not reoccur.
One of the biggest lessons: Risks are such – and so are upcoming regulations – that reporting on what’s going on will be real-time. This will involve not just managing the accuracy and speed of market data involved with transactions. This will also include reference data, corporate notices, counterparty information and transactions data. .All of the data has to be processed, parsed, and analyzed by people and applications. Instantly.
Firms will no longer be able to rely on disparate views of the data stored in multiple silo, if you listen to regulators and experts. That is because doing so prevents them from having an enterprisewide view of the data and it certainly won’t meet the needs of a potential new systemic risk regulator being proposed as part of the new financial reform bill.
THE WEEK AHEAD:
TUESDAY JUNE 22
HEARING: House-Senate Wall Street Reform Legislation
Noon to 9 p.m., 106 Dirksen Senate Office Building
OPEN MEETING: CFTC-SEC Committee on Emerging Regulatory Issues
1 p.m., SEC Headquarters, 100 F Street NE, Room L-002 (Auditorium)
EVENT: 2010 SIFMA Technology Expo
Through June 24. New York Hilton
WEDNESDAY, JUNE 23
EVENT: 2010 Morningstar Investment Conference
Through June 25. Chicago
WEBCAST: Business Success Through Software Innovation
11:00 a.m., Mike Gilpin, vice president, Forrester Research
THURSDAY, JUNE 24
EVENT: Operational Risk of OTC Derivatives
Through June 25. Institute for Financial Markets, New York
THURSDAY, JUNE 24
EVENT: Operational Risk of OTC Derivatives
Through June 25. Institute for Financial Markets, New York
THE WEEK THAT WAS:
SIFMA to SEC: Don't Change Proxy System (SIN)
Breaking Rules: SEC Puts Bounds on Erroneous Trades (SIN)
Transfer Agents to SEC: Eliminate Suppression Fees (SIN)
Arguing the Business Case for Tagging Action Notices (SIN)
Bloomberg Halfway Through Launch of New Launchpad (SIN)
Trade Group Promotes 'Best' Process for Moving Collateral (SIN)
FSA Decision Sparks Debate About Regulatory Structures (StructuredFinancenews.com)
House-Senate Panel Disagree Over 'Too Big To Fail' (Marketwatch)
Trading body hires former SEC official (Financial Times)
SEC Votes 5:0 For New Disclosures For Target-Dates (Money Management Executive)
Liquidnet CEO Breaks Down The Flash Crash (Forbes)
Celebrity Adviser Starr Used Name-Dropping in His Alleged Fraud
