Acumen-net software updated for LIBOR phase-out
15 April 2020 New York
Image: Shutterstock
Profile Software has revealed that Login’s Acumen-net Treasury Management platform is ready to support the phase-out of the London Interbank Offered Rate (LIBOR) with new modules.
Banks are set to transition from LIBOR to alternative risk-free rates by the end of 2021.
Acumen-net’s new module will help assist treasurers to easily perform tasks ahead of the change, accommodating new reference data rates while supporting entry, calculation and fixing, where applicable.
Profile Software explained that the LIBOR Conversion Module is an additional module in the solution that offers all the tools needed to migrate existing agreements from LIBOR to the new risk-free rates.
Following previous updates, Acumen-net already includes the mechanism to support backwards-looking instruments, whether compounding or averaging, with or without a spread.
Profile Software also noted that Acumen-net can also fully accommodate the management of specific fixing and payment lag.
The platform handles several valuation methods for the current period, based either on the rate calculated up to today or topped with a rate to the end of the current period.
Additionally, it can also manage a wide variety of yield curves that can be adjusted for the new valuation method.
Elsewhere, in a bid to help the transition from LIBOR to alternative risk-free rates,
Temenos recently updated its software.
Commenting on the transition, Adam Gable, product director of financial crime, treasury and risk at Temenos, noted that moving away from LIBOR to alternative rates is a complex task but it presents an opportunity for banks to modernise their IT infrastructure.
Banks are set to transition from LIBOR to alternative risk-free rates by the end of 2021.
Acumen-net’s new module will help assist treasurers to easily perform tasks ahead of the change, accommodating new reference data rates while supporting entry, calculation and fixing, where applicable.
Profile Software explained that the LIBOR Conversion Module is an additional module in the solution that offers all the tools needed to migrate existing agreements from LIBOR to the new risk-free rates.
Following previous updates, Acumen-net already includes the mechanism to support backwards-looking instruments, whether compounding or averaging, with or without a spread.
Profile Software also noted that Acumen-net can also fully accommodate the management of specific fixing and payment lag.
The platform handles several valuation methods for the current period, based either on the rate calculated up to today or topped with a rate to the end of the current period.
Additionally, it can also manage a wide variety of yield curves that can be adjusted for the new valuation method.
Elsewhere, in a bid to help the transition from LIBOR to alternative risk-free rates,
Temenos recently updated its software.
Commenting on the transition, Adam Gable, product director of financial crime, treasury and risk at Temenos, noted that moving away from LIBOR to alternative rates is a complex task but it presents an opportunity for banks to modernise their IT infrastructure.
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