Xenomorph is pushing its TimeScape EDM+ data management and analytics solution into the regulatory compliance space, initially helping users master the data management requirements of the Basel Committee’s Fundamental Review of the Trading Book (FRTB) and BCBS 239 regulation.
The regulatory modules of TimeScape EDM+ are not yet in the market, although Xenomorph is talking to a few clients and consultancies about them. Brian Sentance, CEO at Xenomorph, explains: “Our strength has always been in data management for risk. By combining the reference data, market data and analytics framework in TimeScape EDM+ with other capabilities on the platform, including profit and loss, value at risk, expected shortfall, non-modelable risk factors and independent price verification, we can provide a solution for regulatory requirements, particularly those around market risk.”
Xenomorph will initially support compliance with FRTB, which comes into effect in 2019, the risk data aggregation and reporting requirements of BCBS 239, and valuations for IFRS 9. By generalising the data management and analytics functionality of TimeScape EDM+, the company will be able to add further regulatory compliance models and could, by way of example, support the data management elements of Markets in Financial Instruments Directive II (MiFID II).
Development of the TimeScape platform from an early toolkit to configure data management, to an off-the-shelf solution that includes enterprise data management and regulation application layers, as well as connectivity to partners such as Numerix and Fincad, allows users to configure calculations rather than develop them from scratch. On the development point, Sentance comments: “TimeScape EDM+ is the most productised solution in the market at the moment.”