AMD Engaged to Work with DTCC on Central Trade Information Warehouse
As a result of its relationship with the 14 Major Dealers, the Asset Managers Division will have a seat at the table concerning the creation of a central trade information warehouse. In a press release issued on February 14, 2006, DTCC announced its plans to create this warehouse in order to automate and centralize downstream processing over the life of an OTC derivatives contract.
A central trade information warehouse is a long-term solution for the backlog in derivatives processing. The Asset Managers Division will continue to have discussions with the Major Dealers, DTCC and other market participants on these developments.
Click here to read Press Release on Central Trade Information Warehouse
Swaps Compliance Lunch & Learn
The AMD and AMF are pleased to announce that SimCorp will sponsor an AMF Lunch & Learn event which will focus on compliance with investment guidelines and risk management for swaps on March 23, 2006. This interactive Lunch and Learn in New York City will include a presentation of compliance and risk management concepts outlined in the best practice recommendations. The instruments covered in the discussions are interest rate swaps, credit default swaps and total return swaps. Please contact Elisa Nuottajarvi at 646.637.9266 for questions relating to this event.
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AMF and Dealers Discuss Operations at Workshop
On February 14, 2006, The Asset Managers Forum sponsored a workshop which focused on operational processing insights from two distinct sides of the industry, namely sellside and buyside. At the Conference, over 150 industry professionals had an opportunity to discuss both structural and cultural nuances in the Operations Departments of both broker/dealer and asset management firms. Bob Mathisen of The Bank of New York offered the keynote remarks at lunch from the custodian's perspective.
John Gallagher of BlackRock and Julie Warren of New York Life Investment Management served as event moderators. In his closing remarks, John Gallagher enumerated some of the issues and challenges that operations professionals are facing throughout the industry. Topics of discussion included: account on-boarding and opening, matching and affirmation, allocation generation, settlement, fails resolution, reconciliation and NAV processing. The AMF will continue to work with industry constituencies on improving these processes through standardization, best practices and automation, as appropriate.
The AMF thanks all of the speakers, panelists and participants for their involvement in this industry operations workshop and for contributing to the working agenda of the AMF by virtue of their participation.