Community

Hi Paul

Its a fundemental that first you have the correct counterparty/investor/account code and why LEI is so important. Other matching data should then be tied to the relevant LEI. The big issue is SSIs and getting a standard. Apart from OMGEO there is no other vendor supplying real competition or standards. Even with competition SSIs are really a utility function and does not really provide a industry complete solution. Maybe the LEI structure set up by the FSB should go onto SSIs?

How stupid that they have not done the obvious and used XBRL with ISO20022! It makes my blood boil with some much industry stupidity when solutions are right in front of them

Best hope i have seen for decades is LEI and all the business operational benefits it can bring. The buy side need to engage fast in LEI as its a win win in terms of both sell and buy side benefits. How many people know of LEI and its broad benefits? How many FS have instigated a LEI implementation? Not as many as should i guess and they are missing a chance 

Lets hope this dovetails with the planned UK changes that provide similar customer benefits as the EU Directive but will come in years ahead. Some uniformity on these directives should not be much to ask!

FTT is the most idiotic thing so far coming out of the mouths of even more stupid politicians. Its just playing to an uninformed crowd for votes and does not supply the answers needed in a global economy or in markets. Where is the leadership? UK must stay out of this crazy tax

Great news and a sign of things to come. The entry price for new Banks is far too high and Sainsburys has invested over a long period of time to get to this position. Hopefully the Government can ease the burden cost to enable many more niche banks to enter the ring. In the meantime i expect Sainsburys to go forward from here and be a future major player in FS. Watch out for transition costs though as this is not easy. They should invest in their own architecture with state of the art modern systems and technology and not drop into the legacy trap that so many banks are in 

This is not the end but the beggining of new market structures and no doubt laws and rules arround data

SEPA has been a great example of vested interests causing delays. Corporates can hardly be blamed because banks moved at snail or worse pace. Regulatory enforcement has been introduced as a result of the banks refusal to produce SEPA services and more importantly market and sell to corporates. The result is that SEPA will take even longer but at least it will eventually arrive. Not before time though

I was asked at a recent book launch my views on peer to peer lending by a cross section of industry and investors. In my view this is the most exciting development in FS for a hundred years. Although on the face of it back to the coffee shops it has the benefit of new technology and apetite of a frustrated and angry soceity with banks and the virtual regulatory straightjacket of banks making it hard to lend. SMEs and Governments are crying out for capital liquidity and this fits the requirement very well

With new banks having to cough up huge expenses before a customer walks through the door this type of business will just grow and fast

Martin Wheatley had a very succesful career at the London Stock Exchange he is also well versed in City culture and understands better than most regulators the various ways that Stock exchanges and other execution facilities can be manipulated or supposedly innocently used. I have known him for years and i think we can expect a new broom with strong bristles