AxiomSL, a provider of regulatory reporting and risk management solutions, has launched its new Fundamental Review of the Trading Book (FRTB-SA) and Counterparty Credit Risk (SA-CCR) certification – one of the first to provide clients with calculations in line with the International Swaps and Derivatives Association’s (ISDA) ‘golden source’ calculations.
The rigorous golden source calculations are designed to ensure the credibility of firms’ standardised calculations for FRTB, SA-CCR and CVA (Credit Valuation Adjustment), as required by regulators. The initial benchmarking program, which now includes over 40 member banks, first kicked off in 2018 and is due to run until July 2021.
The initiative is designed to help promote transparency and alignment between regulators and market participants, ensuring regulatory goals can be met more efficiently.
AxiomSL, one of the first vendors to comply with the rigorous calculations as per the ISDA benchmarks, is hoping that the program will help its clients to better manage Basel IV requirements, as well as future US regulatory mandates.
“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,” confirms Edward Royan, Head of Global Products, AxiomSL.