Commercial Bank International (CBI), a national bank in the UAE, has selected Bloomberg’s Multi-Asset Risk System (MARS) modules for counterparty risk, market risk and valuation. The bank previously adopted MARS Front Office to help its LIBOR transition. The three additional modules make MARS the bank’s primary risk management system.
The MARS counterparty risk (XVA) module will help address existing regulatory requirements such as SA-CCR for counterparty credit risk capital calculations. The same module provides counterparty exposure analytics for derivatives portfolios.
MARS market risk module integrates to provide a solution supporting risk management and data workflow. It also provides scalability and allows further growth of CBI’s treasury business.
MARS valuations provide complete valuations for derivative portfolios, including OTC derivatives and structured products, ensuring data and pricing consistency across the front-to-back trading workflow cycle.
“Using MARS as our primary risk system enables us to streamline our risk management workflows, quickly implement new financial regulations, and improve our operational efficiencies,” says Randa Kreidieh, chief risk officer at CBI.
Bloomberg MARS is a set of risk solutions that are accessible on the Bloomberg Terminal and via APIs. The solutions provide risk analytics for cash and derivatives securities and enable traders, portfolio and risk managers to manage front-office risk, market risk, XVA counterparty risk, credit risk, hedge accounting, as well as collateral and SIMM requirements – all using a common pricing and data library to provide consistency from front to back.
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