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Bankenes Sikringsfond Implements Xenomorph TimeScape to Improve Risk Analytics

Bankenes Sikringsfond, the Norwegian banks’ guarantee fund, is implementing Xenomorph’s TimeScape solution to create a central analytics and data management platform that can support a dynamic risk approach to the market.

The fund started looking for a solution about six months ago. It wanted to link multiple data sources and perform proprietary analysis for distribution to its fund management team. This would support faster decisions based on consistent and high-quality data and analytics, and allow the fund to track market developments against its fundamental understanding and identify and manage dynamic risks affecting portfolios.

The fund considered hosted solutions from the likes of Bloomberg and FactSet, but alighted on TimeScape as it found the software more flexible in terms of how data can be controlled and how data models can be designed. TimeScape can integrate and handle any asset class and offers the fund automated data storage, cleansing, validation and analysis using built-in functionality or analytics added by the fund management. The software was deployed a couple of months ago and is being fed with data, while data structures are being finessed as the fund rolls out the solution through live trading and towards an expected finish in six months’ time.

John de Courcy-Bower, execution trader at Bankenes Sikringsfond, says: “I joined the fund about a year ago. I had used TimeScape about 10 years before, when it was young. It has developed well and become a powerful and flexible solution. Without large upfront time in IT investment, we can hit the ground running using the system in a highly scalable fashion. We now have a central source of information that is processed efficiently and large amounts of calculations and tasks can be performed automatically.”

Bankenes Sikringsfond is using TimeScape to integrate data from its middle-office Bloomberg Aim system with market data, historic market data from internal sources and portfolio positions. It has positioned the software as an overlay to its live trading environment. For Xenomorph, Bankenes Sikringsfond is the company’s first user in Norway, although it does claim another Scandinavian client in Sweden.

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