SimCorp Partners with SIX or the Asset Management Community

SimCorp Partners with SIX or the Asset Management Community
18.06.2019 11:31 am

SimCorp Partners with SIX or the Asset Management Community

Management , Asset Management

Swiss financial data expert SIX has announced a partnership with SimCorp, centered on its Sanctioned Securities Monitoring Service, to give financial institutions greater global sanctions data coverage.

In an increasingly complex geopolitical world, staying on top of the myriad of continually evolving sanctions has proved a challenge for  compliance officers globally.  The partnership between SIX and SimCorp, aims to address and streamline compliance processes around sanctions, eliminating the risk of breaches, which can be damaging to financial institutions. As a result, SimCorp’s clients can now access up to date global sanctions data directly from SIX, integrated into the Compliance Manager module of SimCorp Dimension. This enables compliance officers to detect breaches against the supported sanction regimes pre and post-trade.

The Sanctioned Securities Monitoring Service from SIX provides a list of entities and issued securities related to ‘watched’ individuals or organizations that have been sanctioned by regulators or government bodies. The service identifies the regimes under which each is sanctioned, drawing from various international regulatory bodies, including those of the European Union, Switzerland, Singapore, Hong Kong, Australia, Canada, the United Kingdom and the United States, as well as the United Nations.

“As a partner to over 190 clients across the world, SimCorp’s Regulatory Center of Excellence, has successfully supported its clients with standardized solutions for a variety of regulatory challenges. The partnership with  SIX  continues our mission to deliver integrated solutions that tackle the real-world issues our clients are facing,” said Carsten Kunkel, Global Head of Regulatory Center of Excellence at SimCorp.

Ronald Knecht, Global Solutions Owner at SimCorp adds, “With an award-winning global sanctions service from SIX, integrated directly in our core front-to-back platform, SimCorp Dimension, our clients are able to manage portfolio risk more accurately and effectively.”

“As globalization continues, sanctions compliance has become increasingly complex. Many have limited their exposure by simply avoiding transactions with the sanctioned entities listed by global regulators, but firms also need to ensure they aren’t getting tangled up with associated entities and financial instruments,” said Phil Lynch, Head Markets, Products & Partners at SIX. “Expanding our relationship with SimCorp, an established global provider, delivers a data service that empowers clients to adapt quickly to regulatory demands and sanctions activity, helping them to trade with confidence.”

The SIX Sanctioned Securities Monitoring Service monitors 6.7 million active instruments and over 26,000 changes a week, including regulator updates and shareholder changes, making it one of the most comprehensive sanctions and watchlist checks in the market. The integration to SimCorp’s Compliance Manager, a powerful and customizable front-office module used by more than 100 SimCorp clients, will see the data service streamlined within key automated workflows. This includes compliance monitoring alerts, customizable compliance rule sets, a real-time overview of key compliance metrics, enhanced risk analytics, as well as, pre-trade, post-trade, and end of day checks.

Related News

JHC and Ortec Finance Announce Partnership to Provide OPAL

Wealth management fintech firm, JHC Systems (JHC), and Dutch based Ortec Finance have announced today that they will be partnering to provide OPAL, a leading software solution... Read more »

Finleap Tackles the French Market and Announces the Recruitment of its Managing Director

Finleap, the largest fintech ecosystem in Europe, supported by leading investors such as Ping An (via its "Voyageur Fund"), continues its international expansion and... Read more »

Dion wins “Best Corporate Actions Solution” Award at the 2019 Goodacre Systems in The City FinTech Awards

Dion Global Solutions (Dion | BSE: 526927), a leading provider of modular solutions to the Financial Services industry and a trusted technology partner to global banking... Read more »

Absa Group recognised as ‘Africa’s Best Transformation’ at Euromoney Awards for Excellence 2019

Absa Group has been named ‘Africa’s Best Transformation’ at the Euromoney Awards for Excellence 2019 held in London last night. 

The award recognises a... Read more »

Axioma Introduces New Linked Models in Risk Model Machine

Axioma, the leading global provider of enterprise risk management, portfolio construction and regulatory reporting solutions, has launched Linked Models, a new feature of the... Read more »

d1g1t Secures Strategic Financing from Illuminate Financial Management

 d1g1t Inc., the first provider of an enterprise wealth management platform powered by institutional-grade analytics and... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel