28 July 2016
Find out more

Thomson Reuters bids to improve banks' benchmark submissions

27 January 2014  |  3700 views  |  0 Thomson Reuters logo web screen shot

In the wake of the Libor fixing scandal, Thomson Reuters has unveiled a service designed to help banks improve transparency and reporting when it comes to benchmark submissions and other price sensitive data.

The Libor scandal, interest rate benchmark rigging and allegations of foreign exchange rates manipulation have dogged the industry and increased the scrutiny that trading firms face surrounding their monitoring processes for contributed data. Regulators around the world and associations such as Iosco are now looking into firms' controls and compliance measures as they seek increased transparency.

Thomson Reuters - which administers around 150 benchmarks, including the one at the centre of the FX probe - is promising to help firms better manage the entire workflow; from the pre-submission requirements of controlling who in their firm is publishing contributed data, to the post-submission compliance activities of surveillance, audit and reporting.

Within its Enterprise Platform the company will embed a unique identifier, alongside a published price or rate, to provide insight into publisher information across a firm's entire workflow. Financial institutions can then integrate this data into their auditing and reporting tools so that they can perform tagging, analysis, and setting alerts based on configurable parameters.

This, Thomson Reuters says, provides complete transparency for compliance monitoring, enabling them to spot potentially suspicious trading or submission activity.

Brennan Carley, global head, platform, Thomson Reuters, says: "The new capability gives our customers the detailed level of transparency into contributed data that they need to ensure they can effectively monitor activity and be in a stronger position to satisfy evolving global regulations."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Bloomberg bids to ease clients' chat room concerns

Bloomberg bids to ease clients' chat room concerns

18 December 2013  |  3626 views  |  0 comments | 4 tweets | 7 linkedin
Deutsche Bank bans chat rooms as Europe takes banks to task over rate rigging

Deutsche Bank bans chat rooms as Europe takes banks to task over rate rigging

04 December 2013  |  5029 views  |  0 comments | 1 tweets | 2 linkedin
Thomson Reuters Q3 earnings fall but financial unit shows signs of life

Thomson Reuters Q3 earnings fall but financial unit shows signs of life

29 October 2013  |  2540 views  |  0 comments | 1 linkedin
Banks and Thomson Reuters join Markit messaging network

Banks and Thomson Reuters join Markit messaging network

07 October 2013  |  6029 views  |  0 comments | 3 tweets | 3 linkedin
Nyse Euronext to take control of Libor

Nyse Euronext to take control of Libor

09 July 2013  |  7047 views  |  0 comments | 4 tweets | 4 linkedin
Thomson Reuters suspends early peeks at consumer data for HFT clients

Thomson Reuters suspends early peeks at consumer data for HFT clients

09 July 2013  |  5183 views  |  0 comments | 3 tweets | 1 linkedin
European Commission approves revised RICs licensing from Thomson Reuters

European Commission approves revised RICs licensing from Thomson Reuters

20 December 2012  |  7983 views  |  0 comments | 1 tweets | 2 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreVisit VocaLink.comVisit capgemini.com

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
9570 views 14 comments | 33 tweets | 38 linkedin
satelliteContactless Bitcoin startup Plutus Tap &am...
9531 views comments | 9 tweets | 4 linkedin
Apps crush internet for UK banking loginsApps crush internet for UK banking logins
8469 views comments | 19 tweets | 25 linkedin
Telefonica Germany launches Fidor-backed mobile banking serviceTelefonica Germany launches Fidor-backed m...
6664 views comments | 16 tweets | 20 linkedin
UK and South Korea build 'fintech bridge'UK and South Korea build 'fintech bridge'
5908 views comments | 13 tweets | 14 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job