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November, 2007
If you're only going to read one FISD communication each month, this is the
one you should read.
FISD NEWS
We are pleased to welcome the following new members this month:
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Kler's, main contact:
Michele Giacomin, Product Marketing Manager
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BlackRock
Solutions, main contact: Greg Nevirs, Global Head of
Market Data
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Atradia, main
contact:David Anderson, Principal
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Budapest Stock Exchange,
main contact: Noemi Lusztig, Director, Vendor Relations
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Liquidnet, main
contact: Eugene Kim, Product Management
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RTS Stock Exchange, main
contact: Denis Avetisyan, Head of Market Data
Call for Nominations - Executive Committee - Deadline November
30: All FISD members are invited to nominate
candidates to fill 15 positions on the FISD Executive Committee (EC)
for terms beginning January 2008. Positions are open for
representatives in each of the three FISD constituency areas:
exchanges, vendors (data/software/hardware/services) and consumer
firms. Any member of FISD may nominate any other member of FISD,
including themselves. Nominating parties must confirm with their
nominee that he or she is willing to serve. Members are encouraged
to nominate candidates that provide the EC with a diversity of views
and geographic perspectives. The term of office is two years, with
no limit on number of terms served.
The nomination should identify the organization that is being
nominated and the representative(s) of that organization that would
serve on the EC and include a campaign statement of 200 words or
less. The content of the campaign statement is up to the nominee,
but could include a brief biography, description of current
responsibilities, listing of current and previous activities and
roles within FISD, and thoughts on the direction of FISD.
Nominations must be submitted no later than November 30, 2007.
Nominations can be submitted via:
http://www.fisd.net/elections/nominate.asp?eID=3
The EC consists of 27 members with equal representation from each
of the three FISD constituencies. The EC is charged with
representing the FISD membership and setting the broad direction for
FISD activities. In this capacity, the EC: reviews and approves new
initiatives, provides guidance to working groups and the FISD/SIIA
staff, identifies priorities for the FISD budget and staff
resources, and selects new EC members when vacancies open.
Voting will begin December 3 through December 21. Electronic
ballots will be e-mailed to the main contact at each FISD member
firm.
Market/Reference Data Training Courses:
Don’t overlook the most critical resource you can provide
yourself or your staff: industry training! To address this important
need, the Financial Information Services Division (FISD) of the
Software & Information Industry Association has partnered with Tee
Williams Associates to provide market data training and continuing
education for financial information industry professionals. These
market/reference data courses offer valuable training for new
industry employees and strategic insight for seasoned veterans.
Space is limited! Don’t miss out!
The
Market/Reference Data Training
program is designed for anyone who is
new to the industry and will provide the framework and key tools for
understanding this complex business segment. The
Re-Thinking Market
Data Workshop is designed for seasoned professionals planning for
the future and defining strategies, especially market data
management and pricing. Space is limited so we suggest you
register quickly.
Chicago, November 26 & 27
London, December 6 & 7
India (Mumbai & Hyderabad) December 11, 12 & 13
BUSINESS ISSUES AGENDA
New Audit Working Group Forming:
A new FISD Working Group is being formed to address the
issue of data audits. Several members of the BIPPS Working Group
have seen an increase in the number of audits being conducted and
have expressed a desire to address certain aspects of the audit
process. These aspects include the period of time that an audit can
cover, the possibility of multiple providers certifying an outside
audit group that could verify the technical aspect of the audit, and
a requirement that data providers publish their audit policies.
Participation in this new group is made available to all FISD
members. Individuals interested in participating in the Working
Group should contact
Nick Merritt (+1 202.789.4441) for more information, including
copies of meeting notes and agendas.
Billing & Invoice Working Group Meeting, New York at 10am ET on
December 13: A special invitation is being extended to the top
invoice provider firms to solicit their comments on the group’s Best
Practice Recommendations and offer them first-hand perspective from
consumer and user firms. Those wishing to participate in the meeting
should contact Nick Merritt
(+1 202.789.4441)
Internal Data Usage: The BIPPS Working Group is addressing
the issue of data usage for internal and administrative purposes
such as marketing, training, and customer support. In an effort to
promote standardization and increased clarity on this topic the WG
is creating a recommended policy for this type of usage and a matrix
providing a reflection of the policies of the major exchanges.
SECURITIES PROCESSING AUTOMATION
News from the Standards Front:
A brief recap of the
TC68/SC4 plenum in South Africa in the first week of November:
WG1 – ISIN/CUSIP/ANNA: The SC4 meeting was almost anti-climatic, in
that up until very close to the meeting date, it was expected that
the SC4 Chair would attempt to ward off discussions about WG1
operational issues. Instead, the Chair presented the situation in a
straightforward recitation focusing on the possibility of
dissension in the WG. The WG1 convenor declined to attend the
meeting, and in his report to the group suggested he might step
down. The decision was made by SC4 voting as a group to accept this
suggestion. WG1 will be continued with a new convenor in order to
finish the technical part of the work and possibly include an
approach for structured instruments.
WG8 – IBEI – Entity Identifiers: Since the proposed standard was
voted down recently, the WG will be reconvened for a new start. A
Call for Experts will be issued soon. FISD staff anticipates
participating in the new WG. This is an issue in which FISD members
have expressed strong interest, and the FISD IBEI Shadow Group is
exploring possible scenarios including non-ISO related approaches.
Several European representatives expressed the view that MiFID
requires some type of IBEI, and that those firms assigning them
currently were doing so out of necessity. (This is an area
that is of growing concern to an increasing number of members. You
are encouraged to join the SG as soon as possible. If you would like
to know more or participate in this Shadow Group please contact
Bill Nichols.
WG11 – 19312 – Data Model: This WG will continue for the time being.
It is not going to issue a standard, but a Technical Report. The
data model will be subsumed into a part of the WG4 20022 repository.
Who will do what work to incorporate the WG11 model into the 20022
model was not determined. The WG11 may also issue a call for
additional experts if required, especially to deal with more complex
instrument types.
If you are
interested in these or other FISD activities related to specific
industry standards, security, or compliance, please contact
Bill
Nichols (+1 202.789.4480)
EVENTS
December Programs & Holiday Events - Save the date and register now
December 4 - London:
FISD General Meeting and Holiday Party hosted
by Reuters
December 13 – New York: FISD Issue Brief and Holiday Party,
hosted by
Credit Suisse
Sign on as a
Market Data Holiday Party Sponsor
and host your customers and
colleagues at this very special event. Limited opportunities are
still available, contact
Elizabeth Cummings for details (+1.202.789.4452)
STAFF SCHEDULE:
FISD staff will be visiting the following locations and
are available to meet with members. Contact them
directly to arrange a meeting.
Tom Davin:
London: December 3-5
New York: December 12-14
Nick Merritt:
London: December 3-5
New York: December 12-14
Bill Nichols:
London: December 3-5
New York: December 12-14
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