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DTCC Sets Stage for Global Standardization of Data
Jul 1 2010 Breaking News - The Depository Trust & Clearing Corporation Thursday took two steps to establish itself as the standards-bearer for collection and distribution of global counterparty data and over-the-counter derivatives data.
CEOs: Fix the Plumbing
Jun 24 2010 - The financial crisis proved the industry's data systems -- its plumbing -- is broken. Call in the CEOs.
Allan D. Grody Statement regarding DTCC, July 2, 2010
Jun 21 2010 Securities Industry News - "This is an exciting step for the realization of a truly universal identification system for the products and trade counterparties and other supply chain participants of the global financial services industry. "While DTCC is truly a dominant and highly valued infrastructure utility in the US market, it is one of hundreds of such facilities globally. Its willingness to collaborate with other infrastructure utilities must be mutual and its ambitions to be a global player must be...
Wave Your Hand: Why Bar Codes Are Needed for Securities
Jun 7 2010 Securities Industry News - If Straight-Through Processing, the holy grail of hands-off, all-electronic order placement, execution, allocation, payment and settlement is ever to be realized, securities need bar codes.
Creating A Global Data Repository: Who Will Blink First?
Feb 23 2010 - The Fed wants to take on the role of systematic risk overseer in the U.S. if not the globe. And it needs data to analyze to do it. How will it get it?
Risk Analysis: Technology Outstrips Firms' Abilities to Use It
Feb 22 2010 Special Reports - Technology has advanced risk analytics far beyond financial services firms' abilities to use it.
Slowing Down Real-Time Trading
Jan 13 2010 - The Securities and Exchange Commission this morning (Wednesday, January 13, 2010) moved to ban "naked access" to electronic markets, saying it will require some kind of pre-trade risk controls on all orders. Here's why slowing down real-time trading makes sense.
Data Management 2010: The Ins and Outs
Dec 29 2009 - Effective data management will become critical in 2010, as regulators on both sides of the Atlantic scrutinize, identify and try to limit systemic risk. This means firms will have to keep a closer tab on risk within their own shops.
Measuring Operational Risk: How the Mistakes Add Up
Dec 14 2009 Securities Industry News - Among the most common operational mistakes cited by two dozen operations executives contacted by Securities Industry News last week: IT glitches; failed settlement of trades, incorrect valuations, unreconciled transactions among counterparties and service providers; and erroneous processing of corporate action notifications.
Systemic Risk Mitigation: Ending "Silos" of Information Why a Central Counterparty for Data Management is Needed
Sep 21 2009 Securities Industry News - Many initiatives are being proposed to get at a much overlooked but core problem for a systemic risk regulator: the data that each regulator receives to help in detecting systemic risk is neither timely nor consistently defined by the submitting firms.
Separate Trading Traffic into High and Low Speed Lanes
Sep 8 2009 Securities Industry News - Professionals have always had an edge over the public in embracing new technologies, even in the age of the compressed air-driven wall boards. The problem of unfair advantage is neither caused by new technologies nor its deployment. The problem is trying to give the retail customer the same price as the wholesale customer, forcing the traders and market makers into a vast “underworld” of legitimate but dubious work-around techniques and private trading venues not accessible to the public.
Rewarding Good Management, When Always Confronting Risk
Sep 8 2009 Securities Industry News - A risk benchmark is critical if there is to be meaningful compensation at year's end to good risk management, just as there are year-end rewards for trading profitability.
Settlement Likely in Goldman Sachs Code Theft Case
Aug 12 2009 Breaking News - A settlement is the most likely outcome of the Goldman Sachs code theft case, according to securities law experts.
Arrest of Ex-Goldman Sachs VP for Alleged Code Theft Shows Vigilance, Not Laxity, Experts Say
Jul 8 2009 Breaking News - The fact that a former Goldman Sachs vice president was arrested for allegedly copying the banking firm’s proprietary trading codes potentially worth “many millions of dollars of profits per year,” according to court documents, could be a sign of vigilance, rather than laxity, on Goldman’s part, two security experts said this week.
Avox Launches Free Service For Business Entity IDs
Jul 6 2009 Securities Industry News - Counterparty data management firm Avox started to publish a subset of business entity data records in a wiki, a Web site that allows people to easily post and edit listings.
The 3 False Gods Of Financial Services
Jun 22 2009 Securities Industry News - The industry has failed to imbed the fundamental concepts of capital adequacy, risk management and straight-through processing into its business model, says Allan D. Grody of Financial InterGroup Advisors.
Smart Financial Reform Should Provide More Information, Not More Regulation
Jun 5 2009 Breaking News - Many are advocating the virtue of more transparency but may not understand the mechanics involved
Keeping Up With Real-Time Risk: New Solutions Needed
Dec 15 2008 Securities Industry News - At the heart of financial institutions’ failure to measure and control risk exposures is “the failure to aggregate basic data across vast enterprises,” writes Financial InterGroup’s Allan D. Grody .
Learning to Share: Big Obstacles for ERM
Jul 14 2008 Special Reports - Financial firms are spending millions of dollars on enterprisewide risk management systems, but recent events have prompted many to ask how much progress is actually being made.
Operational Risk Management to the Rescue
May 26 2008 Securities Industry News - To prevent future crises, the financial services industry needs risk management systems that can detect a “change in risk factors that signals an increase in future loses,” writes Financial InterGroup’s Allan Grody .
