AxiomSL the First to Provide FRTB Calculations With ISDA

AxiomSL the First to Provide FRTB Calculations With ISDA
11.08.2020 01:03 pm

AxiomSL the First to Provide FRTB Calculations With ISDA

RegTech , Compliance

AxiomSL, the industry’s leading provider of regulatory reporting and risk management solutions, today announces its Fundamental Review of the Trading Book (FRTB-SA) and Counterparty Credit Risk (SA-CCR) certification - as one of the first to provide clients with calculations in line with the International Swaps and Derivatives Association’s (ISDA) ‘golden source’ calculations. This will help clients to better manage Basel IV requirements, as well as future US regulatory mandates.

The golden source calculations are designed to ensure the credibility of firms’ standardised calculations for FRTB, SA-CCR and CVA (Credit Valuation Adjustment). ISDA is working with all stakeholders to promote the global harmonisation of these calculations required by regulatory authorities. The initial benchmarking program commenced in 2018 and runs through to July 2021. AxiomSL is among the first vendors to comply with the rigorous calculations as per the ISDA benchmarks.

Panayiotis Dionysopoulos, Head of Capital, ISDA, says: "ISDA is spearheading an initiative involving over 40 member banks to drive the accurate and consistent implementation of the new Standardised Approach capital models across the industry. We are delighted that solution providers are now joining this initiative and welcome AxiomSL as an early adopter”.

The initiative will help promote transparency and alignment between regulators and market participants ensuring regulatory goals can be met more efficiently. AxiomSL’s calculations will match ISDA’s golden source calculations, thereby providing out-of-the-box collaborative industry credibility and also the required robustness for regulatory scrutiny. For the most complex standardised calculations (FRTB, SA-CCR, CVA) in the new Basel IV world, banks are now able to comply with confidence using the AxiomSL data integrity and control platform.

Edward Royan, Head of Global Products, AxiomSL, states: “ISDA has a 30+ year of track record as a trade association that has demonstrated its leadership   role globally.  It is an honor to collaborate with such a respected organisation and being the leading vendor to deliver these complex calculations attested to ISDA’s unit test benchmark.  The AxiomSL solutions will provide the instant credibility that enables our clients and financial institutions to achieve greater standardisation of data and processes, enhancing consistency and increasing efficiency in complying with new standardised calculation regulations”. 

Related News

Shield Joins IBM Cloud for Financial Services Ecosystem

Specialist RegTech provider... Read more »

Hong Kong’s livi bank Selects Wolters Kluwer’s OneSumX for Regulatory Reporting Solution

Wolters Kluwer has been selected by livi bank for its award winning ... Read more »

Ideal Prediction Awarded ‘Best Surveillance Provider’ By FX Markets

Ideal Prediction (Ideal), the independent trading analysis and data science company for capital markets, has won the FX Markets award for ‘Best Surveillance... Read more »

Paragon Bank to Adopt TruNarrative RegTech Platform to Power Bounce-Back Loans Initiative

Paragon Bank has procured business onboarding and automated due diligence technology services from RegTech firm, TruNarrative. The decision... Read more »

SteelEye Wins Best RegTech Solution at the HFM European Technology Summit

SteelEye, the compliance technology and data analytics firm, has been recognised as the Best RegTech Solution by HFM Global, announced at yesterday’s... Read more »

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