peterevans has launched a new solution for managing and calculating daily margin exposure. The solution, xanite Margin Engine, has already been picked up by one of the worlds largest equity brokers.
Speaking to Global Custodian at SIBOS 2009, Mike Foley, CEO of peterevans said that although the product had been in developed for seven-to-eight years, the focus on risk management meant that now seemed the appropriate time to roll the platform out to clients.
xanite ME reconciles initial and variation margins which have been calculated by the Central Counter Party (CCP) for General and Individual Clearing Members (GCMs/ICMs) The application then takes the overall margining to the next level down and calculates the theoretical margin requirement at the non-clearing member level in total and by market. This allows the GCM greater visibility and control of their client risk and increases operational efficiency whilst reducing margining errors.
xanite ME’s features include capture of gross execution level trade information and net open positions, calculation of consolidated CCP margin figures across multiple trading venues as well as reporting of individual non-clearing members margin calculations.