OpenLink Financial has launched a European Market Infrastructure Regulation (EMIR) business intelligence solution on its CubeIntelligence portfolio.
The OpenLink EMIR Cube helps financial institutions and other organizations participating in bilateral over-the-counter (OTC) derivatives trading to comply with the clearing and reporting requirements of EMIR.
The solution generates the regulatory reports that firms must provide daily to trade repositories, including the 30-day moving average; calculates and records the sum of the absolute values of the notional outstanding portions of current sales; displays the EMIR values for the entire firm and drills down into further detail; specifies which trades, books or products are in scope of the regulations; and runs what if scenarios to see how the EMIR values would change in certain circumstances.
Firms are increasingly using derivatives to hedge and diversify their trading strategies to increase alpha and stay competitive, says Mark Greene, CEO of OpenLink. Our CubeIntelligence team has developed the OpenLink EMIR Cube to ensure clients continue to have access to the OTC market while remaining compliant with the new regulations set to come into force this year.
David Priestley, founder of CubeLogic and managing director at OpenLink, adds: Using the sophisticated OLAP approach, the new cube provides industry-leading support for our clients for the EMIR rules. The new cube allows firms trading OTC derivatives in Europe to manage risk while remaining compliant and producing all the mandated reports and complex calculations in a timely and efficient manner.
(CG)