United Overseas Bank (UOB) in Singapore has chosen NeoXam to support its market data management efforts in line with incoming regulations.
NeoXam, a global financial software company specialising in solutions and services for the buy-side and sell-side, said it will help UOB comply with regulations, such as FRTB (Fundamental Review of The Trading Book) and BCBS239 (Risk Data Aggregation and Reporting).
Its DataHub, a customisable software solution for centralised data management, enables users to manage the data supply chain for risk management. It acts as a single repository of market data and helps reduce operational risk, address regulatory requirements and achieve market data cost savings.
Lim Ann Liat, head of markets and enterprise technology, group technology and operations, UOB said: “At UOB, one of our aims in harnessing technology is to improve business performance. By tapping NeoXam’s DataHub, we will be able to increase the speed in which we manage immense quantities of market data through automation while driving productivity improvements and mitigating operational risk, and all in a cost-effective way.”
Headquartered in Paris, France, NeoXam also provides NeoXam Compliance, a start-of-the-art solution for pre and post-trade regulatory and client compliance checks.
Available throughout the trading cycle or as a standalone post-trade analysis solution, NeoXam Compliance offers advanced rule scripting capabilities, a full audit trail and flexible reporting. It is designed to support high volumes of trades, rules and portfolios for global and diversified investment management organisations.
It provides pre-trade compliance checks with real-time alerts and override authorisation workflow, compliance check simulation in “what-if” scenario analysis, and on demand check with full audit of results and underlying holding situations. The company provides its solutions to asset managers, asset management boutiques, asset services, bank & corporates and institutional investors.
Tim Versteeg, chief sales officer & general manager of NeoXam APAC (exec.China) said: “We are thrilled to be working with UOB Group in Singapore to ensure that FRTB compliance is a smooth and cost-effective process. We have witnessed how the bank constantly strives to achieve the best risk management practices and know that we can support the team on their journey to regulatory compliance and maintenance.
“Our data-centric approach to market data management enables a swift and agile implementation of a UOB groupe-wide golden copy of data and governance model for its market which will keep them one step ahead of the regulatory curve.”
In January 2016, the Basel Committee on Banking Supervision (BCBS) published its Standards for Minimum Capital Requirements for Market Risk; also known as the Fundamental Review of the Trading Book (FRTB). These new standards replace parts of the Basel 2.5 reforms, which were introduced in 2009 to address the material undercapitalisation of trading book exposures during the 2007-08 financial crisis. FRTB goes live in 2019.
The Basel Committee of Banking Supervision (BCBS) 239 is different from other regulations. It demands that the information banks use to drive decision-making captures all risks with appropriate accuracy and timeliness.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
