IHS Markit, CloudMargin and Rival Systems also have FinTech news announcements.
New Solution Part of SS&C’s GlobeOp Offerings
SS&C Technologies, a software systems and software-enabled services vendor, has just launched the SEC Modernization Reporting solution, part of the SS&C GlobeOp offerings, that targets the SEC’s efforts to push modernization for liquidity and regulatory reporting, officials say.
The SEC’s modernization efforts will impact firms identified as registered investment management companies under the Investment Company Act of 1940, such as mutual funds, closed end funds, UITs, and exchange-traded funds (ETFs).
SEC officials estimate that there are approximately 12,000 funds that will be affected by the new SEC modernization rules. The first of the new reports are due by July 30, 2018.
The SS&C solution is offered as a license or as a service that will facilitate compliance through efficient and accurate reporting of Forms N-PORT, N-CEN, and N-LIQUID, officials say.
In fact, SS&C can offer “40 Act” funds the same kind of reporting support provided to alternative asset management companies for the past five years, says Michael Megaw, managing director and global head of regulatory solutions for SS&C GlobeOp, officials say.
The SEC Modernization Reporting system offer normalization, enrichment, and aggregation support for data from a variety of systems and adapts the data to new or updated regulatory requirements, SS&C officials say.
In addition, the established offering, SS&C GlobeOp, provides reporting and service solutions for complex and data-intensive alternative investment filings, officials add.
IHS Markit & CloudMargin Partner for Derivatives Collateral Solution
With derivatives in mind, IHS Markit, an information, analytics and solutions vendor, is debuting Collateral Manager, an end-to-end, cloud-based solution for calculating margin, settling margin calls and managing margin disputes, officials say.
IHS Markit is partnering with CloudMargin, a web-based collateral and margin management solution provider, to source key technology for this service, officials say.
The offering is intended to help firms meet new regulation that requires the mandatory exchange of variation and initial margin for cleared and uncleared over-the-counter (OTC) derivatives transactions, say IHS officials. Firms want solutions to automate margining and mitigate legal and liquidity risk.
The Collateral Manager offers configurable dashboards and real-time reporting to facilitate the automation of margin call processing, exception management, and transparency for audit and risk purposes, officials say.
The Collateral Manager also helps with sourcing key data, including terms contained in CSAs, trade data, derivatives valuations and pricing for multiple types of eligible collateral, from other IHS Markit services, vendor officials say.
Collateral Manager can link “the disparate information that is critical to a straight-through collateral process,” says Laura Kholodenko, director for Portfolio Valuations, in a prepared statement. “Achieving an automated collateral program is a growing priority as managing margin becomes a larger and more complex challenge,” Kholodenko says.
Portfolio Valuations, Counterparty Manager, MarkitSERV and Fixed Income Pricing services from IHS Markit are important data sources for the comprehensive solution provided by Collateral Manager, IHS officials say. The solution covers cleared and non-cleared OTC derivatives, repos, stock loan, futures, options and TBAs.
Rival Systems Launches Mobile App for Risk Platform
Rival Systems, a provider of trading and risk management software, is introducing a mobile app for its Rival Risk platform in direct response to client feedback, officials say.
Working within a customized mobile framework, the app, available for Apple iOS and Android-based phones, can help end-users access data via a risk management platform “from anywhere at any time,” vendor officials say.
The two-year-old Rival Risk platform works in real time, is fully hosted, and is based upon HTML-5, officials say. It’s intended to extend enterprise risk management capabilities across trading platforms and clearing firms.
The new mobile app can provide risk managers with a view of the “real-time risk and profit-and-loss of the entire firm,” officials say. The app also offers the ability to drill down to individual accounts and instruments, and filtering by trading group, product and other factors.
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