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Crédit Agricole CIB Implements Opensee’s Advanced Market Risk Management Platform

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Opensee, the specialist data analytics platform for financial institutions, has successfully rolled out a new market risk management solution for the front office users of Crédit Agricole Corporate & Investment Bank (CACIB).

The new solution consolidates multiple data sets from varied sources into a single repository, rather than the previously segregated systems used for each of CACIB’s Global Markets business lines, enabling Global Markets management to efficiently monitor, analyse, and report on risk exposures across their diverse trading activities, utilising a consolidated source of the bank’s market data.

Opensee’s platform is designed to enhance decision-making in financial institutions by offering greater transparency in managed intelligence, to address the need to understand risk at a more granular level.

“We are reconciling the world of data lakes and analytics,” Stephane Rio, Founder and CEO of Opensee, tells TradingTech Insight. “Data lakes serve as repositories for managing data, providing a comprehensive view of ongoing activities. Analytics, on the other hand, typically operate separately or through an abstraction layer, offering some utility in harnessing data lake resources, but often at the expense of performance, as data lakes tend to be cumbersome and slow to navigate. To address these challenges, we have introduced a ‘domain-specific referential’ framework, which allows us to intersect vast data lakes with user-specific cases in various domains. This curated, domain-specific referential is comprehensive and ready for autonomous users, adhering to a data mesh or data fabric framework. It’s within this framework that we achieve full traceability whilst enabling users to conduct real-time analytics at scale in one consolidated location at controllable and predictable cost of performance.”

The cloud-native structure of Opensee’s solutions is designed to be both scalable and cost-effective, meeting the challenges posed by the rapid growth and complexity of financial risk and trading data, says Rio. “Our foundation is cloud-native, built from the ground up using cloud technologies. This, however, doesn’t tie us to any specific cloud service providers; our approach is cloud-agnostic. This flexibility means we can deploy on a variety of platforms, including AWS, GCP, Azure, as well as internal private clouds or even bare metal, if necessary. Our system is also designed to support the hybrid cloud setups that banks are increasingly adopting for risk management. By offering this breadth of deployment options, we ensure that our clients’ diverse needs are met, regardless of where they are on their journey to the cloud.”

The platform is equipped with advanced Python calculators for regulatory measures such as Value at Risk (VAR) and Liquidity Coverage Ratio (LCR). It also features AI-powered Data Quality Assistants and Data Versioning, facilitating collaborative and auditable data management for front office, risk, and finance officers. These tools allow for in-depth investigation, simulation, impact assessment, and data adjustment.

Opensee and CACIB are now expanding the solution’s application to meet the specific needs of various asset classes, to give traders in FX options and non-linear interest rate derivatives the ability to integrate Opensee into their daily risk management practices.

Regis Benichou, CACIB’s Head of Business Risk Advisory, commented: “This is a game-changer for the bank in terms of improving the speed, efficiency and governance of risk management for Crédit Agricole CIB’s market activities. Greater data accuracy will minimise operational risk while managers will have quicker aggregated overviews for better oversight. It is a leap forward to a world where multiple users across the Global Markets division will have a very powerful, scalable tool to meet their different needs. We will discover the full potential of the solution as we roll it out to business units over the coming year.”

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