Source: National Cyber Security – Produced By Gregory Evans
When the first deadline for Form PF came rolling down the pike in 2012, most every vendor that geared itself toward the buy side launched aggressive marketing pushes touting their wares as being the tool that could help conquer this new requirement that stemmed out of the Dodd-Frank Act. In 2013, vendors focusing on banks jumped onto the Basel III credit valuation adjustment (CVA) bandwagon to spread the good word about their risk modeling and risk analytics tools. A new term of art—XVA—was eventually born. Last year, the investment book of record (IBOR) took hold amongst large asset managers and a sea of vendors began distributing information about their IBOR capabilities. This is not to say that all of these vendors were full of it ─ most were simply seizing on a new challenge to market a product that they fully believe in. That’s fair. But other vendors were simply slapping lipstick on a pig. More accurately, you can put a Porsche body on a $15,000 starter car, but if there’s no a twin-turbo engine underneath then while it may look like a high-end sports car, it won’t perform like one. Let’s start this discussion with the acceptance that cybercrime […]
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