Presentation on theme: "Data Standards Working Group Update Asset Managers Forums Swaps Workshop and Vendor Exhibit 27 October 2004 Presented by Ann Marie Davis and Stephanie."— Presentation transcript:
Data Standards Working Group Update Asset Managers Forums Swaps Workshop and Vendor Exhibit 27 October 2004 Presented by Ann Marie Davis and Stephanie Davis
2 Data Standards Working Group Initial Working Group Participants Amaranth Group Inc. Citadel Investment Group, LLC D. E. Shaw & Co., L. P. Deephaven Capital Management DKR Capital Inc. EBF & Associates LP HBK Investments L.P. Highbridge Capital Management Moore Capital Management LLC Paloma Partners Management Company Soros Fund Management LLC Tudor Investment Corporation
3 Data Standards Working Group Executive Summary Validation of position and market valuation, neither of which are currently addressed by other industry initiatives. The focus is not legal confirmations which are being addressed by other industry working groups. Enhance technology using a phased approach, if necessary; streamline communications using accepted industry methods for data representation, transmission and security. One-solution-fits-all approach to communications. Exchange sufficient data to generate meaningful exception reports. Initial focus on structured products.
4 Data Standards Working Group Objective Streamline communications using accepted industry methods for data representation, transmission and security. Reduce support costs through efficient processing and consistent requirements. Minimize change and significantly reduce lead-time when new products and/or dealers are introduced. Provide relief for the dealers by limiting the range and variety of requirements from end-users. Foster a team environment to ensure success.
5 Data Standards Working Group DSWG scope: Position and market value validation Buy/Sell Side DSWG BMA/ AMF ISDA MFA Processing platforms 3 rd party vendors
6 Data Standards Working Group Product Priority – Final Immediate Focus: Interest Rate Swaps Credit Default Swaps Total Return Swaps (Equity, Bonds) Future Phases: Options (Swaptions, Equity, FX, Cross-Currency, Credit Default) Variance and Asset Swaps Commodity Swaps Prime Broker
7 Data Standards Working Group Benefits of Uniform Technology Promotes standards to enhance data processing: Representation – FpML extensions Security – PGP/GPG encryption Transmission - FTP Standardizing the technology will not limit the use of the data. One solution does fit all.
8 Data Standards Working Group Conclusion DSWG has made real progress in a very short time. Established technical and business-side working groups that have: –Agreed and finalized project deliverables –Established a one-solution fits all technology approach –Generated sample files How we measure success. This project will make valuable data more easily available, standardize and secure transmission, ensure that content is more consistent and ease the process for dealer's to provide data to end users. Each participant will measure success differently, depending on their needs but this initiative addresses all aspects of the defined data requirements and will provide a valuable solution for all.