In 2016, the UK FCA increased the capital adequacy requirements for SIPP providers depending on their exposure to ‘non-standard assets’ following an FCA consultation and the publication of a policy statement in 2014. Products with exposure to more ‘non-standard’ assets are required to hold a higher amount of capital, thereby increasing the cost of holding them.
ICE’s SIPP service helps customers identify products which are considered to be non-standard, based on guidance published by the FCA which considers whether an asset is ‘capable of being accurately and fairly valued on an ongoing basis and readily realized within 30 days’. Examples of such assets include unlisted shares, unregulated collective investment schemes and peer-to-peer loans.
Specifications
Key Features
- Indicator of standard or non-standard assets, reason code and supporting reference data/pricing for the determination leveraging exchange and fund manager pricing to identify liquid products
- Request/Response delivery for a securities of interest file
- Daily refresh based on latest pricing and valuations
Products
The evolution of our file-based offering. Bringing together, in a unified solution Corporate Actions, Reference Data, Analytics and our wealth of pricing datasets including ICE Evaluations, CEP, Fair Value Information Services & Listed Market Pricing.
Buy-side and sell-side front offices continue to embrace more data and more technology in order to expand their opportunities and gain an edge over the competition. Enrich front office systems with ICE’s Data API solution, providing intraday access to fixed income pricing, on-demand analytics, reference data and more.