OpenLink, a provider of cross-asset trading, risk management and operations processing software solutions, has released Version 8.1 of its Findur credit derivatives trading platform. Among other enhancements, the new version offers an interface to derivatives data services from Markit Group as well as access to instrument data from Bloomberg.
The Findur platform performs a broad range of functions around the trading process, including pricing, analytics, trade capture, risk management, settlements, confirmations, cash management, accounting and collateral management. It features a number of integration tools providing users with the ability to create their own proprietary market view through the use of an external pricing model API, user-defined instrument builders, and user defined pre- and post-processing services that perform credit limit checking, real-time position/risk/P&L updates, compliance management, automation and alerts.
Developed closely with OpenLink’s client base in response to the rapid growth and evolution of the credit derivatives markets, the latest version offers new support for both listed and over-the-counter derivatives. As well as adding access to derivatives data from both Markit Group and Bloomberg, the system now supports trading in: inflation linked swap instruments; Brazilian CDI swaps; ABS instruments; swap futures; CDS on ABS/MBS; capitalization bonds; payment-in-kind bonds; LOCs and commitment loans.
The system also supports performance reporting and attribution; novation processing; new pricing models for convertible bonds and other instruments; a T-Zero interface; a DTCC/DerivServ interface; a SwapsWire interface; a new Trade Process Management workflow builder; and support for Unicode character sets.
According to Gary Koche, global director for Findur, all market data interfaces are added based on customer and market place demand. “Such interfaces are essential for optimal deployment of the solution’s functionality and the system’s ease of use,” he says.
The latest release is an extension of what OpenLink sees as the product’s prime mission: providing clients with support for trading the most complex and diverse financial and physical products. “Clients benefit by having a single solution supporting a wide variety of asset classes and functional requirements, within a single, secure trading environment,” Koche adds.
“While we continue the trend toward providing the broadest asset class coverage, other recent product innovations include our new Trade Process Management module. Our Trade Process Management enhancements provide a flexible framework for defining trade processing workflows,” continues Koche. “These workflows can be defined at extremely granular levels, including at the trade or instrument levels.
This provides our customers the opportunity to increase efficiencies in operations while providing an improved control and audit environment over trade entry, approvals, enrichment, and routing.”