EMIR requires CCPs who wish to continue to trade in the European Union to arrange for accreditation based on new regulatory requirements. Accreditation is accompanied by identification of the financial instruments or type of contracts that each CCP is authorized to clear.

On March19, NASDAQ OMX was the first CCP to be awarded ESMA accreditation. The others are expected to follow fairly rapidly.

This accreditation is one of the prerequisites for implementation of the clearing obligation which will be imposed on a number of standard contracts. Nevertheless, this can only actually enter into effect once ESMA has published the list of asset classes which will be subject to it. And it will take at least 6 months before this list is published, at which time the clearing obligation for the products ESMA deems eligible will be retroactive for ongoing contracts.

Diasoft , a global provider of financial software solutions, is named among Top 5 Global Leaders of Celent Big Leagues Table 2013 for the gross number of deals won in 2012-2013. The results were introduced by Celent in its annual The Big Leagues 2013: Core Platform Sales Ranking issued in February 2014. The report provides a detailed look at core banking deals and measures the number of new banking deals that vendors won in the 12 months between July 1, 2012 and June 30, 2013.

In this report, Celent uses a weighted score designed to assess the value of deals won, rather than merely the number of deals. Celent believes that a sales ranking should include both the size of the deals and an adjustment for the geographical location of the implementation. With that view, Celent introduced the Big Leagues Table to compare how various core banking vendors performed across the world. The report provides a geographical analysis of North America, Latin America, Western Europe, Asia-Pacific, and Eastern Europe, the Middle East, and Africa, together with a detailed vendor analysis.

“We are proud to be ranked among Top 5 Leaders globally this year”, said Mikhail Kryuchkov, Director, Global Markets, Diasoft. “This recognition indicates that our customers recognize the value of Diasoft component-based SOA-compliant financial solutions incorporating the most advanced architectural principles and standards.  As we remain to provide our customers with necessary business and technological agility, we expect our position as a world`s leading software solutions provider will continue to rise.”

“Celent is bullish about the core market,” says Dan Latimore, Senior Vice President with Celent’s Banking Group and coauthor of the report. “Standardization initiatives are gaining momentum, and as IT development evolves toward simplicity and modularity, core adoption will become easier to justify.”

“The cycle time for new channels and products will continue to shorten,” adds Stephen Greer, Analyst with Celent’s Banking Group and coauthor of the report. “As complexity grows, vendors will undoubtedly be at the forefront of innovation, with core banking deals not far behind.”

Leading financial institution, The Saudi Investment Bank (SAIB) announced the selection of iCreate’s Biz$core Fintellix Decision Enablement Solution as a comprehensive platform to enable the bank’s DW/BI strategy. On the threshold of the next level of growth, SAIB required an enterprise-grade innovation that could address its tactical business and compliance challenges as well as augment their strategic decision making capability.

The engagement will involve the deployment of iCreate’s Banking DW/BI platform in line with SAIB’s requirements, data extraction, a web-based portal with necessary infrastructure to access the reports, deployment of Self-service BI layer and will cover business-critical areas such as Islamic Retail Banking and Corporate Banking.

Speaking on the occasion, SAIB's GM – IT and Shared Services, Mr. Al-Obaid said, “SAIB has always made investments in proven Analytics/BI platforms as part of our overarching Information Management strategy. We chose Biz$core Fintellix for its ability to function as a backbone for our enterprise-wide BI requirements. iCreate will help us lay the foundation for enabling a strong decision support system and improve current discipline of information governance at SAIB”.

Amit Agarwal, iCreate’s Global Head for Business Development, said, “I am delighted to partner with a specialised bank like SAIB in their DW/BI journey. I am confident that Biz$core Fintellix will establish a holistic information management platform for  SAIB. This is a significant win for us in a region that has high potential for a solution like Biz$core Fintellix”.

Diasoft, a global provider of cutting-edge software solutions for front-to-back automation of financial services, introduces its new offering - Diasoft Balance, “Procurement Management”.

Diasoft Balance – is a fully-functional and multi-component solution, developed in accordance with the business-processes based approach. It ensures automation of supplier contract accounting processes of financial institution.

Diasoft specialists have developed and introduced to the market “Procurement Management” component in order to provide its customers with extended functionality of  Diasoft Balance solution.

With “Procurement Management” all the processes, including initialization, approval and realization of procurement procedures, holding of the tender and evaluation of existing suppliers become structured and optimized in terms of time. It allows forming procurement plan basing on existing as well as on potential contracts. New component appears to be a logical extension of Diasoft Balance supplier contract accounting functionality.

Diasoft Balance “Procurement Management” supports the following business-processes:

• Procurement composition
• Generation of Tender documentation
• Organization of Tender committee meetings
• Forming of procurement plan
• Periodic assessment of suppliers

IBM PureFlex – is a complete, flexible cloud infrastructure system that integrates and optimizes all compute, storage and networking resources to deliver infrastructure-as-a-service (IaaS) out of the box. This innovative solution can be configured for any specific business needs and may be complemented by a package of support services.

With PureFlex Diasoft customers obtain balanced solution, complementing computing resources, data storage and network infrastructure, optimized for FLEXTERA and other solutions of the company. Moreover, IBM system ensures increased speed of Diasoft`s solutions installation, requires fewer efforts and simplifies maintenance of IT-infrastructure.

Diasoft has successfully implemented IBM PureFlex in Capital Moscow Bank. With PureFlex system Diasoft was able to prepare and implement working and testing environment for FLEXTERA solution in a record time. Moreover, the experts from Diasoft’s Competency center together with IBM’s specialists deployed an integrated hardware and software platform PureFlex in BANK just within 5 days, after which they proceeded to configuring FLEXTERA applications. As a result the whole process of FLEXTERA implementation was performed in terms, exceeding all expectations of žBANK.