Search

Byline: John Sandman In a chilly economic climate, the 8,300-member Swift messaging cooperative has been extending its reach, says Chris Church, global head of the organization's securities division and CEO [...]

Byline: John Sandman The financial services industry's conference calendar is likely to undergo more than a few alterations in 2009 as potential attendees consider staying home. Many conference organizers are [...]

Byline: John Sandman FIX Protocol Ltd. (FPL) has named Ryan Pierce, a contributor to the non-profit organization since 1998, as technical director-a newly created, full-time position. FPL, which includes representatives [...]

Byline: John Sandman XBRL US, the consortium charged with the development of the XML-based extensible business reporting language and its promotion in the U.S., is aiming to standardize the delivery [...]

Byline: John Sandman The Object Management Group's (OMG) announcement earlier this month that it is working with FIX Protocol Ltd. (FPL) on the unified modeling language (UML) raised questions about [...]

Byline: John Sandman In a pair of moves that could affect adoption of the International Organization for Standardization (ISO) 20022 messaging methodology, the Object Management Group (OMG) has signed a [...]

For banks and broker-dealers, adequately identifying risks posed by new clients during the account-opening process can be daunting. Often, firms are exposed to risk from beneficial owners who may be [...]

FIX Protocol Ltd. (FPL) has released a new version of its XML-based specification for advanced algorithmic trading support, four months after it became a fully approved standard. The FIX algorithmic [...]

While rogue trading is not new, the magnitude of recent losses has banks looking at prevention with renewed urgency. The credit meltdown, a series of bad quarters and Societe Generale's [...]

Replacing a voluntary filing program that found relatively few participants, the Securities and Exchange Commission has proposed a rule that would require all public companies to submit reports in the [...]

XBRL International, the consortium that manages the extensible business reporting language, on May 6 announced the formation of XBRL Europe in Brussels. XBRL, which provides a format companies can use [...]

The Financial Crimes Enforcement Network (FinCEN) has proposed simplifying the process by which depository institutions exempt certain customers from filing currency transaction reports (CTRs). The proposal could placate a banking [...]

Three months since European banks were to move credit transfer payments onto the Single Euro Payment Area (Sepa) system, progress has been slow and observers are asking whether the initiative [...]

Since its emergence nearly three years ago, the so-called standards road map has been known by several names, but the general concept has remained the same: harmonization of the FIX [...]

Extending the reach of FIX 5.0--and perhaps enticing users of legacy versions to upgrade--FIX Protocol Ltd. (FPL) has released the first service pack for the iteration that debuted in January [...]

Trade management services provider Omgeo has bolstered TradeSuite, its trade confirmation service for the U.S. market, with new functionality supporting the processing of repurchase agreements--repos--and reverse repos. Steve Matthews, managing [...]

Former New York Governor Eliot Spitzer's fall from power not only provides an example of how well the U.S. anti-money-laundering (AML) regime now works, but may also offer an illustration [...]

Adding new compliance burdens to financial services firms still getting up to speed with the European Union's Markets in Financial Instruments Directive (MiFID), the U.K.'s Financial Services Authority (FSA) will [...]

The Financial Crimes Enforcement Network (FinCEN), the U.S. Treasury's anti-money-laundering (AML) arm, plans to deliver this spring a cost-benefit analysis on a long-simmering initiative requiring that cross-border wire transfers be [...]

Currency transaction reports (CTRs) have received a restrained vote of confidence from law enforcement agencies in a U.S. General Accountability Office (GAO) report on the value of the filings, which [...]

Though anti-money-laundering (AML) regulations for hedge funds have stalled at the proposal stage in the U.S., funds opening branches abroad can find themselves exposed to other regions' rules. Gary Sutton, [...]

As Swift begins to phase out the International Organization for Standardization's (ISO) 15022 format in favor of the new ISO 20022 types, Euroclear Bank is developing messages to help address [...]

As increasing volumes of market data flow ever-more rapidly across a growing number of venues, the industry's technology infrastructure may not have the capacity to meet traders' desire for low [...]

The Treasury Department has released the results of a pandemic testing exercise for the U.S. financial services industry. While Treasury called the test, which ran from Sept. 24 to Oct. [...]

Swift is proceeding with its migration from the International Organization for Standardization's (ISO) 15022 payment messaging format to ISO 20022--scheduled for completion by 2010--but questions remain. Some ISO 20022, or [...]

European banks will begin migrating their corporate clients onto a new payment system next week as the Single Euro Payment Area (Sepa) replaces the various national schemes with a eurozone-wide [...]

Since its inception nearly ten years ago, the financial products markup language (FpML) has gone a long way toward automating the clearance and settlement of a wide range of derivative [...]

Ten years ago, providers of FIX engines proliferated in response to broker-dealer demands, but that market shrank as users began to develop in-house engines. Now, with firms facing rapidly increasing [...]

After a sluggish start, the Fast protocol for high-speed delivery of market data is finding increased usage among securities exchanges, a sign that it may soon reach critical mass with [...]

In a world marked by standardization, regulatory mandates and relentless pressure on margins, the divide between payments and securities-transfer mechanisms could be artificial and potentially disruptive. Though not an issue [...]

Financial services firms' contingency plans for a pandemic of avian flu rely heavily on the ability of staff to work off-site, but a study by the U.S. Department of Homeland [...]

The Treasury Department's office of foreign assets control (Ofac) is seeking to increase the transparency of its sanctions process--in part as a response to recent cross-border exchange mergers--and provide enhanced [...]

The Financial Services Technology Consortium (FSTC) has moved into the final phase of an industry resiliency initiative to develop benchmarks and standards for operational risk management. The new phase, which [...]

A new, light-weight interface being developed by Swift is expected to attract low-volume, low-value users to its messaging network. Plans for the as-yet-unnamed SwiftNet interface were unveiled by CEO Lazaro [...]

When NASD and the member regulation division of the New York Stock Exchange combined this summer to form the Financial Industry Regulatory Authority (Finra), it produced a self-regulatory organization (SRO) [...]

The official theme of this week's annual Swift Sibos conference is 'Gaining Momentum,' which the banking and securities industry consortium says 'will serve as a platform to discuss how the [...]

FIX Protocol Ltd. (FPL) has taken steps toward the final roll-out of an extensible markup language (XML) specification that will support advanced algorithmic trading. Currently in beta mode, a full-blown [...]

Even with anti-money-laundering (AML) regulations in place across much of the globe, there are still basic transactions that many observers fear are vulnerable to money launderers. Growing concerns have caused [...]

Computer and communications services vendor Savvis has introduced a hosting solution that resolves latency issues by providing traders with direct connectivity to exchanges. With Proximity Hosting, brokerage firms and hedge [...]

One month since Section 312 of the USA Patriot Act became final, the Treasury Department's Financial Crimes Enforcement Network (FinCEN) has issued interpretive guidance spelling out the due-diligence obligations of [...]

The relationship between the FIX and Swift messaging standards devolved from a July 2001 memorandum of understanding (MOU) to pursue a single standard to an impasse in 2006 when FIX [...]