Lombard Risk COLLINE v 14.1 includes functionality which enables its client base to address the new standards and meet the global regulatory deadlines for the un-cleared margin rules. With five of the leading global investment banks impacted by the Phase 1 September 2016 deadline as clients, Lombard Risk made it a priority to go to market well in advance of the regulatory deadlines to enable these prestigious institutions the ability to prepare accordingly.
The global regulations aim to reduce risk and increase transparency in non-centrally cleared OTC trading activity. Market participants who operate internationally will need to understand the cross jurisdiction margin rules at a global level, including which regions counterparties may be subject to, differences relating to inter-affiliate trades and currency regimes. Whilst regulators have striven to establish comparable rules in an effort to reduce duplication and the possibilities of regulatory arbitrage and competitive advantage, the streamlining of margin regulations across the globe has proven to be challenging.
Clients who are impacted by the 1st March 2017 and later deadlines have expressed their confidence to Lombard Risk that the COLLINE solution will continue to support their requirements. Additionally, with these regulations looming, financial institutions of all shapes and sizes are turning to Lombard Risk to help them deal with the operational complexities including CSA terms, asset class definitions, ratings, eligibility controls and alerts, workflow processes and reporting.
Helen Nicol, Global Product Director - COLLINE from Lombard Risk said: “In such a changing environment the most efficient way for firms to stay up to date is through a technology solution that automatically calculates exposure, performs eligibility checks and provides increased levels of automation. We’ve seen a number of existing clients already sign up for the regulatory licence as well as an influx of enquiries from other interested organisations requesting information on our offering and how it can assist them in meeting the regulations. Addressing changes in regulation comprehensively and ahead of time means we are able to give our clients the agility they need to gain advantage in their markets.”