OpenLink, the global leader in trading, treasury and risk management solutions for the energy, commodities, corporate and financial services industries, has won the prestigious Central Banking Award 2017 in the ‘Risk Management Services Provider of the Year’ category.
The judging panel recognized OpenLink for its ongoing commitment to support the risk and technology needs of its large and growing central banking client base, its close-knit relationships with the central banking community borne out of a strong user group and the flexibility of OpenLink’s platform to adapt to the changing risk and operational requirements that most central banks are now demanding. Central bank needs are evolving in a still uncertain and fluid macroeconomic environment, and the shift in engagement with the wider market is pushing the boundaries beyond what standard systems can provide.
This award underscores the way OpenLink’s highly experienced teams support a range of central bank and government authorities. The judges highlighted OpenLink’s work with the Bank of Canada and its move to two-way, fully automated credit support annexes, which will enable them to reduce costs and risk exposures.
Christopher Jeffery, Chairman of the Central Banking Awards Committee and Editor-in-Chief of Central Banking, said: “OpenLink has proved it can provide central banks with the technical support needed to navigate their changing risk management needs, particularly in the area of OTC derivatives trading. A case in point is its work with the Bank of Canada, which has benefitted from OpenLink’s systems to move to two-way collateral management, easing its funding burden by ensuring tighter OTC derivatives prices from major dealers.”
Commenting on the award, John O’Malley, CEO of OpenLink, said: “Central banks continue to adapt to evolving regulations and risk management standards in the aftermath of the 2008 global financial crisis and the current global market uncertainties. OpenLink’s longstanding commitment to the central banking community has created a strong relationship that keeps us in tune with their unique challenges and opportunities. We are delighted to have been recognized with this award as a testament to how our clients benefit from OpenLink’s market-leading risk management capabilities.”
The award will be presented at the annual Central Banking Awards in London on March 23, 2017.