As part of its market data management project to improve the internal model for Market Risk calculations, LBBW (Landesbank Baden-Württemberg), one of Germany’s largest banks, has implemented Xenomorph’s TimeScape analytics and data management solution.
TimeScape provides the bank with a high performance data management system which enhances risk management, delivers validated market data based upon consistent validation processes and ensures regulatory compliance.
LBBW chose TimeScape for its ability to support large volume, multi-source and complex data sets in an easy-to-use and transparent manner. The system is used to import, normalise, validate and distribute different types of data from different sources, including equities, indices, FX and interest rates, bonds, warrants, credit spreads, options and futures, volatilities, credit and yield curves, with the number of instruments managed reaching 210,000.
The data is cleansed, stored, validated and then distributed to downstream systems, enabling consistent and efficient risk reporting and analysis. TimeScape allows the management of multiple Golden Copies for risk, back-office and accountancy, and enhances data consistency and transparency across the different departments.
Moreover, LBBW has implemented complex data validation rules within the TimeScape framework so that data can be easily accessed to create both new instruments and the reporting on them required by market risk.
“Xenomorph’s TimeScape allows us to deliver validated end of day data for several systems. TimeScape comes with many out-of-the-box tools and built-in functionality that have enabled us to see results quickly in the project. At the same time, it gives us the flexibility to customize the solution for our particular business processes and needs”, says Sebastian Weedermann, IT Project Manager, LBBW.
By using TimeScape, LBBW has optimised its validation processes to meet strict daily timelines for data delivery. The transparency of, and ease of access to, instrument data, market data and calculations within TimeScape have helped LBBW successfully implement its internal model for risk and regulatory reporting.
“High quality risk management is based on the principles of transparency, consistency and auditability of data. We are delighted to have enhanced LBBW’s risk management and compliance capabilities through the implementation of TimeScape, our high performance, future-proof analytics and data management solution”, concludes Brian Sentance, CEO Xenomorph.