New Credit Event Part of ISDA’s 2014 Derivative Definitions
The 2014 ISDA Credit Derivatives Definitions to come in September will introduce several new terms and a new credit event that would be triggered by a government bail-in of a financial reference entity, according to the International Swaps and Derivatives Association.
Gaia and Numerix Take on EMIR Requirements
Gaia Transparence, an open source software provider for asset management, trading and risk systems, and Numerix, which offers cross-asset analytics for derivatives valuations and risk management, are partnering to help firms meet the European Market Infrastructure Regulation (EMIR) requirements for collateral, margin and trade repository management, officials say.
The Numerix analytics have been embedded within Gaia Transparence’s Position Builder solution for collateral management, margin requirements and credit value adjustment (CVA), officials say. The solution helps users forecast and manage initial and variation margins via the Numerix CrossAsset library of models and methods. The combination also provides support for mandatory trade repository reporting, and the monitoring of global positions.
SunGard Adds Order Management Service to Loanet
Loanet, a suite of solutions from SunGard Financial Systems for the securities finance industry, now offers a new order management service to help borrowers and lenders increase automation and boost productivity of their trading businesses, say company officials.
The revamped product targets lenders and borrowers that need to manage their information flows via telephone, instant messaging, e-mail, and spreadsheets, say Loanet officials. The new order management service is intended to help centralize and provide automation by combining real-time lender inventory with additional inventory sources.
The order management service gathers availability information from numerous lenders to allow borrowers to fill an order and then automates settlement, officials said. With the new service, orders can be directed either to lenders in a bilateral trade or to an exchange platform. The service also automates contract booking and settlement at DTCC.
INDATA Targets Big Data with iPM Epic
INDATA, which offers order management, compliance and portfolio accounting systems, has launched the iPM Epic platform to help investment managers better control very large data sets, including structured and unstructured data, officials said.
The new product builds upon INDATA’s iPM — Intelligent Portfolio Management technology and iPM Cloud offerings, officials say. iPM Epic targets firms that need to optimize the capture, storage, search, sharing, analysis and visualization of Big Data from front, middle, and back office perspectives.
iPM Epic software also offers the following enhancements for the front, middle and back offices via the iPM suite:
- An Investment Book of Record module;
- More than 180 better functions for iPM’s front and middle office OMS, portfolio modeling, compliance and CRM tools;
- More than 100 improvements to iPM Back Office portfolio accounting, reconciliation, performance, reporting and billing;
- New system interfaces to market data providers;
- And expanded outsourcing services as part of INDATA System Administration for Business Process Outsourcing.
Ingenious Initiatives Updates Accounting Package
Accounting software vendor Ingenious Initiatives has updated its flagship back-office offering, Penny – It Works, version 10.1, so that it offers a unitized partnership calculation feature that allows shares to be reported on investor statements and through new reports detailing calculated NAV and GAV per-share amounts on capital-based funds, officials say.
The new feature will make it easier for hedge fund back offices to track shares on partnerships, company officials said. Hedge fund back-office staff members can also manage investor payouts and distributions directly through the software.
Formerly known as TKS Solutions, Ingenious targets hedge funds, fund administrators, private equity firms, investment management companies and family offices.
SmartStream Launches Basel Compliance Tool
Post-trade solutions provider SmartStream Technologies has launched TLM Cash and Liquidity Management, version 2.5, with an integrated intraday liquidity management module intended to help banks comply with Basel compliance, officials say.
The new solution targets banks that need to meet the first Basel reporting deadline in January 2015, officials say. The solution is also intended to help firms meet increasing regulatory and operational pressures to manage intraday liquidity positions and risks for direct participant and correspondent banking settlement markets. The release provides intraday liquidity visibility through automated data feeds, balancing and forecast modelling functions.
SIX Financial and Avox Partner for Pre-LEI Support
Market data vendor SIX Financial Information has tapped legal entity data specialist Avox to source pre-Legal Entity Identifiers to help SIX clients meet compliance, risk and operational obligations, officials say.
The service consolidates pre-LEIs from the issuing Local Operating Units and maps them to SIX’s global securities database, officials say.
The partnership focuses on clients’ LEI implementation programs as they develop infrastructures to meet reporting requirements for as EMIR, Dodd-Frank (for OTC Derivatives) and Solvency II, say officials. SIX will cross-reference the pre-LEI to its security and entity reference data.
Avox will source pre-LEIs from all local operating units, which are the organizations responsible for creating pre-LEIs, say SIX officials. Avox will also provide a consolidated file with the identifiers to SIX Financial Information. Entities will be matched to an Avox ID (AVID), a unique identifier that facilitates fast and reliable identification of all parties involved in any transaction.
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