In other FinTech news, Numerix embraces unification, ISE Mercury hits a milestone and the CFTC wants to hear from you.
CloudMargin to Feature Markit’s Portfolio Valuation Services
The portfolio valuation services of Markit, a financial information services and systems vendor, will become available via CloudMargin, a cloud-based, collateral management software platform, say officials from both providers.
The combine services are timed for upcoming requirements on initial and variation margin “within the BCBS IOSCO framework, set to be implemented globally from September 2016,” say CloudMargin officials. The new rules are expected to “significantly impact margin calculation and workflow processes.”
The combination is also meant to help securities firms achieve “consistency in valuations used for P&L generation and margin calculation for collateral exchange,” according to CloudMargin. The other goal is to help firms have connectivity and workflow across valuation and collateral management systems, officials add.
“In a rapidly changing regulatory landscape, the combination of CloudMargin’s solution and Markit’s portfolio services, places us in a unique position to support our clients’ end-to-end collateral management requirements and deliver real competitive advantage across all cleared and uncleared transactions,” says Steven Husk, executive chairman of the board, CloudMargin.
Numerix Launches Unified Platform
Satyam Kancharla, SVP, chief strategy officer, Numerix
Numerix has just introduced what it says is “a unified analytic application platform” targeting enterprise-level risk management through the “optimization of capital, collateral and funding,” officials say.
The new unified XVA pricing, counterparty credit risk management and market risk platform facilitates the deployment of analytics including pre-trade decision support, XVA pricing adjustments, market risk analytics such as VaR/expected shortfall and scenario analysis, stressed VaR and back allocated VaR, PnL attribution/explain report, real-time limits management as well as exposure measures for counterparty risk management, Numerix officials say.
“The Numerix Oneview dashboard allows managers to drill down/slice & dice huge multi-dimensional datasets to provide instant response times for complex risk and optimization calculations,” Numerix officials add. “Through the instant analysis, aggregation and visualization of large volumes of complex and dynamic data users can compare results over various time periods, make what-if inquires and achieve a timely, more accurate view of risk enterprise-wide.”
“Numerix Oneview provides a unified view of risk across an institution, breaking down silos between departments and desks to provide real-time market risk measures and counterparty exposures that firms can utilize to make informed risk, profitability, collateral and capital allocation decisions,” says Satyam Kancharla, senior vice president and chief strategy officer for Numerix, in a statement.
ISE Mercury Hits Rollout Milestone
Officials at exchanges conglomerate International Securities Exchange Holdings (ISE) report that its third options exchange, dubbed ISE Mercury has successfully completed its full initial rollout schedule.
“Within two weeks of its launch, ISE Mercury has listed products for trading which represent approximately 93 percent of the industry’s average daily volume for equity and ETF options,” officials say. “Additional listings will be announced at a later date.”
ISE officials say that there are no fees associated with application, membership, market data, or trading rights on ISE Mercury until September 1, 2016. ISE Holdings is part of Deutsche Börse Group.
CFTC Wants Comments on LCH.Clearnet’s Request
U.S. regulator the CFTC is asking for public comment about a petition submitted by LCH.Clearnet Ltd for an order pursuant to Section 4d(f) of the Commodity Exchange Act (Act), officials say.
“The petition requests an order that would permit LCH.Clearnet Ltd and its clearing members that are registered futures commission merchants to: (1) commingle in an account subject to Section 4d(f) (a cleared swaps customer account) futures and foreign futures positions and cleared swaps positions, and related customer money, securities, and property; and (2) portfolio margin futures and foreign futures contracts and cleared swaps contracts in the cleared swaps customer account,” according to the CFTC.
All comments have to be submitted on or before March 11, 2016, CFTC officials say. Comments may be sent electronically through the CFTC’s Comments Online process.
The petition and all comments received are available on the CFTC’s website, according to the regulator.
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