AxiomSL leads solutions provider adoption of golden source calculations
11 August 2020 London
Image: Daniel Jędzura/Adobe Stock
AxiomSL has received its fundamental review of the trading book (FRTB) and counterparty credit risk (CCR) certification.
The provider of regulatory reporting and risk management solutions is one of the first providers to calculate in line with the International Swaps and Derivatives Association’s (ISDA) ‘golden source’ calculations.
Having achieved the certification, AxiomSL will be able to help clients manage Basel IV requirements, as well as future US regulatory mandates.
ISDA’s ‘golden source’ calculations aim to ensure the credibility of companies’ standardised calculations for FRTB, CCR and credit valuation adjustment.
The benchmarking programme launched in 2018 and runs to July 2021. It aims to promote transparency and alignment between regulators and market participants to more efficiently meet regulatory objectives.
Panayiotis Dionysopoulos, head of capital at ISDA, explained: “ISDA is spearheading an initiative involving over 40 member banks to drive the accurate and consistent implementation of the new standardised approach capital models across the industry.”
“We are delighted that solution providers are now joining this initiative and welcome AxiomSL as an early adopter.”
Edward Royan, head of global products, AxiomSL, added: “The AxiomSL solutions will provide the instant credibility that enables our clients and financial institutions to achieve greater standardisation of data and processes, enhancing consistency and increasing efficiency in complying with new standardised calculation regulations.”
The provider of regulatory reporting and risk management solutions is one of the first providers to calculate in line with the International Swaps and Derivatives Association’s (ISDA) ‘golden source’ calculations.
Having achieved the certification, AxiomSL will be able to help clients manage Basel IV requirements, as well as future US regulatory mandates.
ISDA’s ‘golden source’ calculations aim to ensure the credibility of companies’ standardised calculations for FRTB, CCR and credit valuation adjustment.
The benchmarking programme launched in 2018 and runs to July 2021. It aims to promote transparency and alignment between regulators and market participants to more efficiently meet regulatory objectives.
Panayiotis Dionysopoulos, head of capital at ISDA, explained: “ISDA is spearheading an initiative involving over 40 member banks to drive the accurate and consistent implementation of the new standardised approach capital models across the industry.”
“We are delighted that solution providers are now joining this initiative and welcome AxiomSL as an early adopter.”
Edward Royan, head of global products, AxiomSL, added: “The AxiomSL solutions will provide the instant credibility that enables our clients and financial institutions to achieve greater standardisation of data and processes, enhancing consistency and increasing efficiency in complying with new standardised calculation regulations.”
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