Nigel Gurney was appointed Chief Financial Officer in July 2014.  He is a qualified chartered accountant with 20 years’ experience in the financial services, wholesale distribution and telecommunications industries.  He was previously Chief Financial Officer at Lepe Partners LLP, a specialist independent banking company, prior to which he was Chief Financial Officer of Merchant Securities Group plc and Chief Financial Officer of W.H. Ireland Group plc.

Nigel Gurney, CFO comments: “I am delighted to be joining Lombard Risk at this time and to be part of a team that has achieved demonstrable growth over the last number of years.  Having previously worked in the regulated sector I appreciate the benefits that Lombard Risk’s suite of products brings to financial institutions in this evolving regulatory landscape.  I look forward to assisting the continued development of the company at a time of substantial opportunity for Lombard Risk and its products.”

Chief Executive Officer, John Wisbey, commented on the results:

“I would like to welcome Nigel Gurney to the Board on behalf of myself and my fellow directors.  We are confident that the experience he brings to the Board will be an asset to the company.  He brings with him both good knowledge of AIM from his time as CFO of WH Ireland, and very relevant knowledge of part of the market space in which our regulatory compliance business operates.”

Lombard Risk offers firms a FREE, on-line facility to help resolve XBRL validation errors encountered when submitting EBA regulatory reports to FCA or CBI. Firms have until 30th June to produce, test and submit the new XBRL regulatory reports in order to be compliant with the latest Common Reporting (COREP) rules. In the case of the UK FCA, as of 1st April GABRIEL was available for firms to test and submit reports – an opportunity to check that the XBRL they have generated is correct.  If the XBRL is invalid, the user is presented with a non-human-friendly “Assertion ID” (an error code e.g. v0220_m) leaving the firm to work out where in the report the error has occurred. Lombard Risk is offering “XBRL-Checker” as an ABSOLUTELY FREE on-line application for firms to gain insight into the Assertion IDs produced by on-line submission systems - so that they may better understand where the XBRL error lies and resolve it quicker.  Everyone is welcome to use it, whether they are a Lombard Risk client or not. XBRL-Checker was designed by James Phillips, Director Regulatory Strategy and Lombard Risk Reg-Xperts (an unparalleled team of regulatory experts in the UK) and developed by the in-house team, headed up by Nick Davies, CTO, Lombard Risk who explains: “We started hearing from firms (NOT using Lombard Risk REPORTER) experiencing problems understanding the regulators’ submission validation error codes and Assertion IDs, so developed this free-to-use application to provide some relief.  XBRL-Checker makes it easier to investigate the errors and demonstrates the power of the Lombard Risk platform and our extensive knowledge of XBRL.  We are extremely excited to be in a position to support the entire regulatory community - whether they are a client now, or could be in the future - through this tsunami of regulatory change.” Organisations have an unparalleled amount of regulatory change currently under testing in their organisation that they are having to implement in the next 6 weeks up to the June submission date.  This tsunami is driving new submissions of forms which are significantly larger and materially more complex than previous - and having to submit them in a new electronic format (XBRL - eXtensible Business Reporting Language) presents even more challenges to overstretched compliance and IT teams.  Lombard Risk has been able to capitalise upon its leadership position in the UK and its prior experience in providing XBRL solutions in other regulatory jurisdictions to win nearly 100 clients for its REPORTER COREP / XBRL solution.  To use XBRL-Checker all the user needs to do is register their email address, and type in the regulators’ validation error.  Lombard Risk XBRL-Checker then immediately displays which regulatory returns are in scope and which validation formula failed.  If requested it will even email back a template showing the exact cells on the return(s) that have the problem - so the compliance and IT teams can pinpoint exactly where and why something was wrong.    Lombard Risk REPORTER is designed to meet the complete range of EBA’s requirements, as well as all Bank of England and FCA / PRA regulatory reporting. REPORTER is used by over 200 firms globally, including nearly 100 for EBA Common Reporting, for requirements in the areas of capital adequacy, credit, market and operational risk, large exposures, leverage and liquidity risks, and financial and statistical Information for calculation, analysis and submission.  Its flexible deployment options, continual product investment and industry-leading international regulatory information updates, has ensured Lombard Risk remains No.1 in the UK and US for regulatory reporting.

Lombard Risk Management plc (Lombard Risk), a leading UK provider of end-to-end European Banking Authority reporting automation, and automated XBRL tools in this market, has comprehensive support for multiple versions of XBRL taxonomies at the same time.  As the EBA’s requirements continue to be rolled out, this is a mandatory functional must-have. The operational reporting requirements of firms under COREP and FINREP regimes are further complicated by the phased introduction of additional reporting challenges for firms subject to new parts of the regime including Asset Encumbrance reporting.  These changes, and taxonomy adjustments from the regulator to deal with inconsistencies, mean that firms have to cope with the live environment which will include more than one taxonomy.  Operationally, this means any XBRL submission, or more importantly resubmission, made by any firm has to be in the format that was applicable at such time. Firms can be confident that the XBRL solution provided by Lombard Risk will automatically know which version of the taxonomy to use when compiling the regulatory transmission.  Unlike other systems which may require users to set version toggles, the Lombard Risk REPORTER product suite simply allocates the correct taxonomy version automatically based on the date of the data being submitted.  This approach also ensures that Lombard Risk clients may test new XBRL taxonomy versions before they are live simply by deploying the date functionality. James Phillips, Lombard Risk’s Regulatory Strategy Director, commented on the simplicity of the solution: “What I find rather appealing is the transparency to the user.  REPORTER can hold as many taxonomies as are needed for current or historical resubmission purposes, yet there is no client action required as this is all transparent–the user only needs to select the regulatory submission and the date to which it relates, and the correct XBRL taxonomy will be used.” Phillips further commented: “It’s also worth noting that Lombard Risk is the only supplier in the market with a free-of-charge tool, “XBRL-Checker”, which checks the XBRL produced (whether this is from our system or not) against the taxonomy, and also visualizes regulatory XBRL in human-readable format.  Again these tools facilitate handling multiple taxonomies.” Lombard Risk REPORTER is a fully automated end-to-end regulatory reporting suite which provides support for all aspects of the reporting cycle, from data collection to report submission.  The handling of multiple transmission technologies at the same time is a typical challenge which the product has had in scope for many years, providing support for regulators which have mixed submission methods, or as in this case, there is more than one version in use for various reasons at any one time. 

Lombard Risk Management plc (Lombard Risk), a leading provider of integrated regulatory reporting, compliance and collateral management solutions for the financial services industry, is pleased to announce the appointment of John Groetchas Regional Sales Director for the Americas. The appointment follows the recent appointment of Simon Parkins as Global Sales Director.  
Based in the Manhattan office, John Groetch will be responsible for building upon Lombard Risk's success in the Americas. He will manage the company's strategic drive in the region, providing leadership and executing on the company's ambitious growth plans.  

John Groetch comes to Lombard Risk with a very wide and deep experience level in the financial services industry and has worked both in the USA and abroad during his distinguished career. Most recently he developed and executed the sales and go-to-market strategy for Markit Analytics in New York. Prior to such, he was Head of Risk Sales at Calypso USA, COO of Razor Risk Technologies, and CEO and co-founder of Treasury Management Systems, Inc. Additionally, he has held senior roles at Dresdner Kleinwort Benson leading the FX department and Deutsche Bank, Frankfurt running the FX sales team.   John Groetch holds an MBA in Concentrations Finance from the Simon School, Rochester, New York and a dual BS in Chemistry and Economics from the State University of New York. 

John Wisbey, CEO, Lombard Risk says: "Our ambitious growth plans necessitated the broadening of our management team in the region. As a seasoned financial services practitioner, I am confident that John will drive the Lombard Risk team forward in the Americas, in line with our aim to be the provider of choice for our regulatory reporting, collateral management and compliance solutions."

Lombard Risk Management plc (Lombard Risk), a leading provider of integrated regulatory reporting, compliance and collateral management solutions for the financial services industry, presented the updated version of XBRL-Checker. The latest version will be able to visualize the XBRL regulatory reports defined by the European Banking Authority (EBA). Firms have until 30th June to produce, test and submit the new XBRL regulatory reports in order to be compliant with the latest EBA Common Reporting (COREP) rules. On 19th May Lombard Risk released “XBRL-Checker” as an on-line application for firms to gain insight into the error messages produced by on-line submission systems - to better understand where the XBRL validation error lies and resolve it quicker. Since then, Lombard Risk REG-Xperts have identified that firms continue to find submitting XBRL reports challenging as the files are large and difficult to read by eye, therefore problematic to check before submission. There are a number of documented differences between the EBA’s technical standards and that of taxonomy, creating great concern as to whether the XBRL being generated contains the correct and complete data. Nick Davies, Chief Technical Officer at Lombard Risk says: “Lombard Risk REPORTER Portal, a web-based solution used by many of our clients for EBA reporting, already provides real-time web and excel download visualisation of XBRL and regulatory returns. We wanted to offer a similar facility to an even wider audience – including firms using other regulatory reporting methods – using their XBRL as the only data source." "Since its launch, XBRL-Checker is being used by a significant number of firms daily to help ascertain where the errors in their XBRL reports are … this new visualisation functionality will make it even easier to view or reconcile their returns by providing the corresponding return template with all the data cells populated from the XBRL supplied data file."

INDATA announced the availability of FactSet data for iPM Epic users. A trusted data source and financial technology provider for over 35 years, FactSet (NYSE:FDS | Nasdaq: FDS) has partnered with INDATA to provide streaming exchange data, robust security reference data, and comprehensive benchmark content feeds to address the full spectrum of data requirements for OMS and portfolio management workflows. FactSet’s data feed technology lets firms maintain and integrate data with speed and flexibility.

“Unlike the majority of our competitors who repackage third-party vendor data feeds into ‘services’ or provision downloads to individual data vendors, effectively double charging their clients for necessary and essential data, INDATA integrates data offerings from industry-leading vendors like FactSet directly into the iPM Epic software platform,” commented David J. Csiki, Managing Director & President of INDATA. “The automation tools and flexible configuration options within Epic, combined with the quality data that FactSet is known for, provides a compelling solution for investment managers looking to gain efficiencies and effectively manage costs,” he added.

“FactSet is proud to partner with INDATA to deliver our robust and high-quality content using our feed technology,” said Todd Hartmann, Vice President, FactSet. “Delivering our content to industry-leading platforms such as iPM Epic highlights our mission to distribute the content and technology investment professionals require, while allowing them to better manage their data costs.

INDATA , a leading industry provider of software and services for buy-side firms including trade order management (OMS), compliance, portfolio accounting and front-to-back office today announced its largest user conference to date, with a 31% increase in attendance over the last user conference and clients spanning North America as well as Europe. The 2014 INDATA User Conference, held February 26-28th in Miami, FL, showcased INDATA’s iPM Epic™, the industry’s first investment technology platform specifically designed for the era of big data. iPM Epic automates the big data challenges that occur within each aspect of the investment management process, including optimizing the capture, storage, search, sharing, analysis and visualization of data from a front, middle and back office perspective for a competitive advantage. The conference not only covered key features of iPM Epic, such as all new IBOR functionality, but also demonstrated how the iPM – Intelligent Portfolio Management solution simplifies clients’ investment operations, enhances compliance and transparency, and improves end user productivity while lowering administrative costs.  Sessions covered the full scope of iPM’s front, middle and back office capabilities and also featured in-depth sessions on iPM Cloud as well as INDATA’s recently expanded outsourcing services. Particularly notable was the explosive growth of iPM Cloud, with more than 56% of INDATA clients in attendance already relying on iPM Cloud. Client participants discussed how their firms are becoming more productive and successful by utilizing iPM and iPM Cloud. Industry experts, INDATA executives and client participants also discussed industry trends, best practices and advanced features of the iPM software and services. “We are extremely pleased with this year’s User Conference and we are grateful to have the outstanding clients that we do who are as generous with their time in sharing their experiences with fellow clients as they are with their feedback,” commented David J. Csiki, Managing Director and President of INDATA. “We are also gratified to see how our clients have benefited from the successes of iPM, iPM Cloud, as well as our recent international expansion.  We are very excited about the next stage of our growth with the release of iPM Epic and we are elated by the enthusiasm our clients displayed at the conference with regards to the product,” he added. 

INDATA, a leading industry provider of software and services for buy-side firms including trade order management (OMS), compliance, portfolio accounting and front-to-back office today announced the release of INDATA iPM Epic – the industry’s first investment technology platform specifically designed for the era of big data.

Big data, the process of collecting and managing extremely large and complex data sets for meaningful analysis and actionable intelligence, has started to become a pervasive theme within many sectors including finance. On the buy side, investment management firms are having to cope with ever increasing volumes of data from disparate sources for use in the investment management process. Additionally, the burden of added compliance and the requirement of greater transparency has led to a dramatic increase in the size of the data that managers need to track and store on an ongoing and historical basis, presenting a challenge for many firms.
 
According to Denise Valentine, an analyst of research advisory firm Aite Group, “In North America risk and performance analytics are shifting deeper into the front-office tool kit. More complex instruments will require on-demand, real-time, front-office risk and performance analysis. As asset managers expand their repertoire of investments, they will require more data for portfolio decisioning as well as IT infrastructure and technology tools to support larger data volume. Aside from the portfolio management requirements, regulators and institutional clients will probe asset managers for more data.”

European-based Aite Group senior analyst Virginie O'Shea adds, "Within the asset management community there is a growing need for analytics support as a result of the challenging business environment, as well as a push to support greater data aggregation requirements for regulatory reporting, and both of these are predicated on these firms moving away from databases and spreadsheets managed by end users. Investment in scalable technology that can support these requirements in real-time is becoming much more important in light of developments such as the European Market Infrastructure Regulation and the second Markets in Financial Instruments Directive."

Building on the success of INDATA’s iPM - Intelligent Portfolio Management technology and iPM Cloud offerings, iPM Epic has been specifically architected to work effectively with very large data sets, both internal and external to the investment management firm, including structured as well as unstructured data, which is routinely used within investment management with great effort and with the significant expenditure of resources. iPM Epic seeks to automate the big data challenges that occur within each aspect of the investment management process including optimizing the capture, storage, search, sharing, analysis and visualization of data from a front, middle, and back office perspective for competitive advantage.  

“Technology is a great equalizer,” commented David J. Csiki, Managing Director, INDATA.  “iPM Epic is a different approach from the status quo and provides INDATA clients with technology tools that have been so far only available to the largest of institutional investors,” he added.

iPM Epic also contains numerous enhancements across the front, middle and back office of the iPM software suite including:

• IBOR (Investment Book of Record) module
• More than 180 functionality enhancements to iPM’s Front and Middle Office OMS, Portfolio Modeling, Compliance and CRM tools
• More than 100 functionality enhancements to iPM Back Office Portfolio Accounting, Recon, Performance, Reporting and Billing
• New system interfaces with leading industry market data providers
• Expanded outsourcing services as part of INDATA SA (System Administration) for BPO (Business Process Outsourcing)

INDATA, a leading industry provider of software and services for buy-side firms including trade order management (OMS), compliance, portfolio accounting and front-to-back office, today announced record company growth for 2103. From an international perspective, the successful implementation of the company’s first round of clients outside of the US has transformed iPM into a truly global product capable of competing in new markets. Having now established a local support presence in the UK, the firm plans continued expansion into new global markets for its iPM products and services. 2013 was also another strong year for iPM Cloud with further growth of existing clients opting for a cloud-based deployment of iPM. It was also the first year that 100% of new iPM clients chose the Cloud. The firm experienced not only back office portfolio accounting system migrations, but also front office OMS, as well as front to back office implementations demonstrating the maturity and broad-based appeal of iPM Cloud for a wide range of clients types. “2013 was a record year for our firm. Our early investments in iPM (released in 2010) and iPM Cloud (released in 2011) have paid off and we have been out in front of the industry trends towards greater compliance, transparency and data management capabilities upon which iPM was built,” commented David J. Csiki, Managing Director, INDATA. “Heading into 2014, our firm is an established innovator within the market for investment management systems and we are excited about our ongoing growth prospects,” he added. 

INDATA, a leading industry provider of software and services for buy-side firms, including trade order management (OMS), compliance, portfolio accounting and front-to-back office, today announced that Quantum Capital Management, based in San Francisco, CA, is now live with INDATA’s iPM – Intelligent Portfolio Management® platform. Due to rapidly growing institutional business, Quantum Capital Management enhanced their technology infrastructure to accommodate the strict needs of institutions and provide a competitive edge. After conducting due diligence on a number of systems, Quantum Capital Management selected iPM based on an analysis of several factors including the platform’s advanced technology, cloud-based deployment option, trading functionality and sophisticated compliance engine along with multi-strategy modeling and overlay management. “The iPM system provides a competitive technology package that combines the most sought-after industry features and functionality, especially in the area of compliance. iPM Compliance allows us to really customize our compliance rules throughout the different levels of the trading process. We can then leverage this to set our firm apart and grow our institutional business,” commented Stephen Bradley Jr., Director, Quantum Capital Management. iPM Compliance proactively monitors pre-trade, live pending-trades and post-trade compliance as well as operational compliance issues in real-time and automatically alerts officers when an issue requires additional attention. iPM compliance also provides sophisticated data management capabilities to ensure accurate and timely data. Guided Workflow, a key component of iPM Compliance, allows firms to document and track operational procedures for compliance, trading, and back office events. iPM Compliance also provides expanded capabilities for custom rule creation with the ability to back-test rules. “Firms like Quantum Capital understand that acquiring best-of-class compliance technology is not only key to keeping up with changing regulatory regimes, but also to growing their business. We are pleased to have them as a new client,” commented David J. Csiki, Managing Director, INDATA.