From BBG… “SEC Plan for Market-Data Fees Is `Fatally Flawed,’ Sifma Says “
Wall Street’s biggest lobbying group said a U.S. regulator’s plan to let NYSE Euronext charge brokerages for certain stock quotes is so “fatally flawed” that it would be rejected by a federal court.
The U.S. Securities and Exchange Commission can’t rely on competition […]
*** The truth is that all of the crisis and turmoil is actually positive for the system… it is the “giant retch”… there is a vast amount (does anyone have a figure?) of deteriorating and poor assets woven through our financial system… there are many unstable financial institutions…
The positive part is that many institutions are marking and […]
Finally catching up… news from… Google Finance invests in Google Data…
~~~~ “Our team is pleased to announce the release of a data API for Google Finance portfolios. This means that developers can build financial software that could give you easy access to your portfolios on your desktop, homepage, or mobile phone. If you know something about writing […]
Listening to the SEC Roundtable on Fair Value Accounting a light goes off in my head… (murky in there…)
The new proposed NRSRO issuer disclosure requirements for asset backed securities (equivalent disclosure) will enhance information about structured assets… this will serve accountants and auditors in valuing securities held on firm’s balance sheet… this relates to the application of FAS 157… […]
Well written article on the application of automated trading strategies to the oil futures markets… just another product for dealing… prop traders like investment banks using equity type algorithms, technologies and cross platform arbitrage…
Finally… something new and interesting in market data… no surprise it comes from Thomson Reuters… the New York Times reports:
~~~~ “….Now, Reuters is trying to provide analogous services to farmers in the developing world, where price information is stubbornly hard to compare. If successful, the program could become a model for economists and international […]
The first comment on the SEC Proposed Rule (S-71308) for credit rating agencies comes from Mr. Schoder of Soc Gen in Paris… his comment relates to “balance sheet” CDOs ** …
~~~~ “My comment relates to information provided in the context of so-called “balance sheet CDOs”.
~~ Infrastructure alert ~~
The newly developed MRSB system for muni underwriters to disseminate issue details is almost ready to go… launch is September 30, 2008… the SEC just approved underwriter registration and testing on the system…
This system is the New Issue Information Dissemination System (“NIIDS”)…
Niids follows Edgar, Emma, Trace… DISSEMINATION SYSTEMS…
Missed the SIFMA workshop on the […]
Wikipedia says ~~~~ ” In accounting, fair value is used as an estimate of the market value of an asset (or liability) for which a market price cannot be determined (usually because there is no established market for the asset). This is used for assets whose carrying value is based on mark-to-market valuations; for […]
SEC Announces ’21st Century Disclosure’ Initiative to Fundamentally Rethink the Way Companies Report and Investors Acquire Information
William Lutz, Disclosure and Transparency Expert, Tapped to Lead Effort
2008-119
Washington, D.C., June 24, 2008 — Securities and Exchange Commission Chairman Christopher Cox today announced the kickoff of an ambitious effort to examine fundamental questions about the way the […]
