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SS&C Signs Multiple Clients To Its FRTB Solution

Nova Ljubljanska banka and SDC implement SS&C Algorithmics’ Fundamental Review of the Trading Book solution ahead of the deadline

SS&C Technologies Holdings, Inc announced that financial institutions from multiple regulatory jurisdictions around the world are now implementing its Fundamental Review of the Trading Book (FRTB) solution in 2021. SS&C Algorithmics’ solution is designed to address the Basel Committee on Banking Supervision’s market risk-related capital requirements for the Standardized and Internal Models approaches, which go into effect in January 2023.

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Banks are updating their risk management frameworks to meet the deadline. SS&C’s FRTB solution provides FRTB-specific calculations and workflows, extensive model coverage, high performance and scalability, as well as extendibility through APIs. The SS&C Algorithmics Workspace Analyzer (AWA) works with the FRTB solution to provide aggregation, sandboxing and what-if capabilities.

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Denmark’s SDC provides an IT platform for 120 small and large banks across all the Nordic countries and was looking for a platform that would help its entire client base prepare for FRTB compliance. “Addressing FTRB-SA requirements is imperative for our bank customers.  We need a technically efficient and scalable solution that ensures robust data segregation,” said Lars Rasmussen, Director – Business Intelligence & Decision Support. “We selected the SS&C solution for FRTB to meet our requirements for industrial strength and scalable technology that provides value for our customers.”

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Nova Ljubljanska banka (NLB), the largest bank in Slovenia, adopted Algorithmics’ FRTB solution to enhance risk management capabilities. “For FRTB-SA, we needed a software partner that would ensure compatibility and create efficiencies with the wider risk management frameworks,” said Chief Data Officer Franc Bračun. “We selected SS&C with confidence that they provided a mature and flexible solution, already adopted by the marketplace to meet regulatory FRTB-SA requirements.”

“Banks recognize the need to prepare for FRTB now to accommodate the fast-changing local requirements in risk management,” said Mina Wallace, General Manager, SS&C Algorithmics. “We are pleased to offer a way to simplify the preparations. With a tried and tested solution in production at multiple clients around the world, a flexible modular approach, and a full suite of what-if and decision-support capabilities, banks can be sure that they are working with an experienced partner.”

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