09 December 2016
Visit aciworldwide.com

Thomson Reuters bids to improve banks' benchmark submissions

27 January 2014  |  3853 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  |  3743 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  |  5155 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  |  2644 views  |  0 comments | 1 linkedin
Banks and Thomson Reuters join Markit messaging network

Banks and Thomson Reuters join Markit messaging network

07 October 2013  |  6174 views  |  0 comments | 3 tweets | 3 linkedin
Nyse Euronext to take control of Libor

Nyse Euronext to take control of Libor

09 July 2013  |  7164 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  |  5294 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  |  8131 views  |  0 comments | 1 tweets | 2 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comFind out moreFind out more

Top topics

Most viewed Most shared
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
7759 views 12 comments | 15 tweets | 27 linkedin
OCC to offer fintech firms bank charter statusOCC to offer fintech firms bank charter st...
7717 views comments | 25 tweets | 15 linkedin
China tops world fintech rankingsChina tops world fintech rankings
7653 views comments | 36 tweets | 30 linkedin
EBA bends under weight of PSD2 mandatesEBA bends under weight of PSD2 mandates
7128 views comments | 34 tweets | 46 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
6614 views comments | 20 tweets | 23 linkedin

Featured job

Find your next job