{"id":357,"date":"2012-05-30T14:30:00","date_gmt":"2012-05-30T14:30:00","guid":{"rendered":"http:\/\/exchangedata.wpengine.com\/edi-is-fully-contingent-for-worst-eurozone-break-up-scenario\/"},"modified":"2022-03-10T13:51:47","modified_gmt":"2022-03-10T12:51:47","slug":"edi-is-fully-contingent-for-worst-eurozone-break-up-scenario","status":"publish","type":"post","link":"https:\/\/www.exchange-data.com\/es\/edi-is-fully-contingent-for-worst-eurozone-break-up-scenario\/","title":{"rendered":"EDI Is Fully Contingent For Worst Eurozone Break-Up Scenario"},"content":{"rendered":"<div>The potential fallout of the Eurozone will have a significant impact on data distributors\u2019 database structure. Exchange Data International has put in place a full contingency plan to overcome a precipitate change in the euro currency.<\/div>\n<p><b>London, May 30th, 2012<\/b> &#8211; Exchange Data International (EDI), a proven provider of global corporate actions and reference data, announced today they are fully contingent in case the Eurozone crumbled.<br \/>\nThe risk of a Eurozone break-up is a high topic of conversation in the financial market at the moment, with all eyes on Greece and its upcoming elections. But since last week\u2019s announcement that one of the top Spanish banks asked the government for a bailout, the \u201cGrexit\u201d is no longer the only scenario investors are focusing on.<br \/>\n<a name=\"more\"><\/a><br \/>\nAs European leaders have failed to reassure the markets, tensions around a potential Greece exit are intensifying and other countries weaken, the risk of a break-up is seriously considered by investors. The main risk the financial sector is looking at in case of a Eurozone break-up is the \u00abcurrency redenomination\u00bb.<\/p>\n<p>If everyone agrees on the importance of risk assessments for investors and financial firms, we often forget the impact of a redenomination risk for financial data distributors who are expected to ensure service continuity and deliver accurate data in a timely manner.<\/p>\n<p>Jonathan Bloch, CEO at Exchange Data International (EDI) says \u00abWe have put in place contingency measures which have been tested by our different teams and ensure service continuity whether we are facing a \u2018simple\u2019 Greek exit or a complete Eurozone fallout.\u00bb<\/p>\n<p>\u00abWe feel that the existing data structures and fields of our database are adequate to cater to the situation as the same data sets were used to provide information when different countries joined the Euro.\u00bb he added.<\/p>\n<p>Alongside working on these contingency measures, EDI has put great effort in sourcing even more offering documents for Euro denominated bonds enabling clients of its Fixed Income Documenter service to easily check clauses relating to redenomination and the proper law applicable. This service is proven to be valuable tool in the current climate where investors are advised to pay a close attention to the legal dimensions of their contract and in particular the legal jurisdiction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The potential fallout of the Eurozone will have a significant impact on data distributors\u2019 database structure. Exchange Data International has put in place a full contingency plan to overcome a precipitate change<\/p>\n<a href=\"https:\/\/www.exchange-data.com\/es\/edi-is-fully-contingent-for-worst-eurozone-break-up-scenario\/\" class=\"more-link\">Learn More<\/a>.","protected":false},"author":23,"featured_media":24207,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[63],"tags":[1812,1818,1813,1814,1825,1822,1816,1823,1824,1820,1831,1821,1817],"class_list":["post-357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-releases-edi","tag-edi-announcements-archives","tag-corporate-actions-archives-edi","tag-data-solutions","tag-edi-archives","tag-evaluated-pricing-data-archives-edi","tag-exchange-data-international-archives","tag-edi-financial-data-archives","tag-edi-fintech-archives","tag-global-economic-data-archives-edi","tag-pricing-data-archives-edi","tag-public-holidays-archives-edi","tag-reference-data-edi","tag-us-mutual-funds-archives-edi"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.0 (Yoast SEO v26.0) 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