Acumennet ready to support LIBOR discontinuation with new modules
- Wealth Management , Compliance
- 14.04.2020 04:39 pm
Profile Software, an international financial solutions provider announced today, that Login’s Acumennet Treasury Management platform already accommodates the orderly transition away from LIBOR that is about to affect Treasury departments by 2021.
Through continuous investments in designing innovative solutions, Profile and Login have been proactive to accommodate the upcoming change by enriching Acumennet with the functionality necessary for both existing and future requirements.
Acumennet, the real-time, STP, front-to-back-to-risk Treasury Management platform, now offers the LIBOR Reference module (LRM) to assist Treasurers to easily perform their tasks ahead of the change, accommodating new reference data rates while supporting entry, calculation and fixing (where applicable). The LIBOR Conversion Module (LCM) is an additional module in the solution that offers all the tools needed to migrate existing agreements from LIBOR to the new RFRs (risk free rates).
Following previous updates, Acumennet already includes the mechanism to support backward-looking instruments, whether compounding or averaging, with or without a spread. It can also fully accommodate the management of specific fixing and payment lag. Furthermore, the platform handles several valuation methods for the current period, based either on the rate calculated up to today or topped with a rate to the end of the current period. It can also manage a wide variety of yield curves that can be adjusted for the new valuation method.
Due to its architecture and functionality available, the platform can comprehensively respond to the market requirements whether going for fixed at the beginning term rates or fixed in arrears daily rates.
Consultation services are also available from the team to support Treasurers during the transition to better understand the impact on the organisation and help them plan ahead. Third-party systems integration is readily available for e.g. Reference Data, Core Banking etc., as well as possible report adjustments.
Acumennet is ranked among the top Treasury Management platforms in the market due to its advanced design, rich functionality, robust architectural structure and is constantly being enhanced to meet current and future market requirements thus saving time and resources on Treasury Departments.