SimCorp has released version 5.2 of its SimCorp Dimension platform, introducing processing of central counterparty clearing functions, OTC derivatives management and front-to-back office functionalities.
Central counterparty clearing house (CCP) functionality was a key enhancement given mandatory clearing requirements in the Dodd-Frank Act and the European Markets Infrastructure Regulation (EMIR). The latest release enables asset managers to meet specific risk margining requirements of CCPs.
The OTC Derivatives Manager assists in the transaction registration process, supporting data import and integration with SimCorp Dimensions instrument templates and straight-through processing functions. It also interfaces with confirmation platforms such as MarkitSERV.
The CCP solution package introduced with SimCorp Dimension 5.2 was designed because we constantly monitor the global regulatory initiatives and plan our developments accordingly to meet the new requirements, says Lars Falkenberg, head of Global Product & Marketing Management at SimCorp. Many of our clients are highly impacted by the new CCP processing requirements. Consequently, it is not enough for them to just be compliant, they are looking for a long-lasting and effective solution to keep costs down.
The release also includes a number of other functionalities for the front, middle and back office, including: new rules in the compliance manager; GIPS reporting notes; credit and issuer concentration risk; alerts inbox for system runtime measurements; general reconciliation of external data; and report book manager for Web reporting.
The next update to SimCorp Dimension will occur in February 2013.
(CG)