The LIBOR transition: why financial organisations need to work smarter and not harder
This LIBOR solution replaces an army of paralegals with technology able to extract information from a 200-page document and over 140 various data points.
Libor
LIBOR transition: everything you need to know
How NIIT Technologies is supporting businesses grappling with LIBOR transition.
UK regulators fire Libor warning shots as deadlines loom
The FCA and Bank of England tell industry the time to act is now.
Regulators need to provide clarity on Libor cessation, says ISDA
ISDA writes letter to FCA asking for greater information on Libor phase-out.
Libor’s demise set to rock the foundations of finance?
With greater protection comes considerable challenges and risks, none more so than with Libor.
MarkitSERV to replace Libor in derivatives markets
IHS Markit’s trade processing service enjoys a win.
Top fintech stories this week – 14 April 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Mastercard gets approval to buy VocaLink for $920m Deal expected to close in coming weeks. Bank of England implicated in Libor rigging by secret recording Well, it was secret. FIS sheds Ambit Private Banking business FIS inherited it […]
Bank of England implicated in Libor rigging by secret recording
A secret recording that implicates the Bank of England (BoE) in Libor rigging has been uncovered by the current affairs programme, BBC Panorama. Libor (London Interbank Offered Rate) is used by banks to set prices of financial products. Last year, several ex-Barclays workers were found guilty of manipulating the Libor interest rate between 2005 and […]
Three ex-Barclays staff convicted in Libor rigging trial
Three ex-Barclays workers have been found guilty of manipulating the Libor interest rate between 2005 and 2007. Jay Merchant was convicted unanimously at Southwark Crown Court in London of rigging the key financial rate. Jonathan Mathew and Alex Pabon were found guilty by majority verdict after a ten-week trial. They will be sentenced on Thursday […]
FX industry calls for greater accountability on IBOR benchmarks
ACI, the foreign exchange industry body, has called for the adoption of a new Model Code for sell-side and buy-side firms on financial benchmarks, to harmonise codes of conduct and prevent a recurrence of the Libor and other recent rate fixing scandals.
February 2014 SEPA: a two-way stretch
A nominal six-month delay in the need to migrate to SEPA-compatible formats hasn’t slowed down the rush to convert clients
Estimating Libor damage past – automating index surveillance future
In the wake of scandals involving manipulation of market indices, can statistical learning theory be used to detect and fix anomalies in Libor and other market indices?
ISDA begins radical overhaul of ISDAFIX swap rates
The International Swaps and Derivatives Association has set a date for the first stage of sweeping changes to the ISDAFIX benchmark for annual swap rates, as part of a major global push to clean up rates and make them more accountable.
The battle for benchmarks: divisions in the ranks?
With lots of different regulatory benchmark efforts now underway, the industry could be forgiven for not taking a common stance. With IOSCO issuing final principles, ESMA and the EBA are simultaneously consulting on a European set of principles. Meanwhile the UK is moving ahead with its own reforms.
Libor is dead … long live NYbor?
Uncertainty over the mechanism for calculating the Libor benchmark in future remains in the wake of the generally applauded appointment of NYSE Euronext as its new administrator.
Regulating the -IBORs: a global view of benchmarks?
Benchmark manipulation and fallout from it is not new news, but the global drive to regulate benchmarks is. Europe has made the first move to controlling benchmark manipulation but global co-ordination is needed to create an approach that works for everyone.
FSA Libor rules to take effect from 1 April
New rules and regulations for financial benchmarks following the Libor scandal will come into effect next Monday, says the Financial Services Authority, and will follow the recommendations of the Wheatley Review.
March deadline for code to tackle fixing of interbank lending rates
European regulators have until March to impose a code of conduct on banks contributing to the creation of the Euribor interbank lending rate benchmark. The deadline is included in recommendations published by the European Securities and Markets Authority and the European Banking Authority following their joint work on benchmark rate-setting processes in the wake of the Barclays Libor scandal and other rate-fixing revelations.
