Buy-Side,Turning,Technology,fo business, insurance Buy-Side Turning to Technology for OTC Derivatives Support
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New regulations regarding the OTC derivativesmarket are prompting firms on the buy-side to increase their investment intechnology. Systems need to enable firms to not only be compliant with the upcomingrules, but also to manage the inherent risks of the OTC derivatives market. Theglobal economic crisis has placed counterparty, credit and systemic risk at thetop of the agenda for many in the financial industry.With the US leading the way, new rules are beingdesigned to bring greater transparency and efficiency to the OTC derivativesindustry, including requirements for trades to be executed via a swap executionfacility (SEF) or an exchange, and cleared through a clearing house. This,along with the requirement that customized swaps be reported to centralrepositories, will bring OTC derivatives trades into the open, lowering riskand adding efficiency to the market.The question remains whether these mandates alonewill be enough for the buy-side to protect itself against portfolio riskexposure. Buy-side firms are reviewing their current systems to assess whetherthey can provide the necessary position keeping, connectivity and otherrisk-management tools they need to process OTC derivatives trades, as well astrades in other asset classes. Many traditional portfolio management andin-house systems were not built to cope with the complexities of todaystrading environment, causing firms to turn to a new generation of technologysolutions that will help them be compliant with global regulations, whilegiving a holistic view of global risk exposure.Having the right portfolio management system thateffectively manages market and counterparty risks is no longer a nice-to-have,but a need-to-have for buy-side institutions.
Buy-Side,Turning,Technology,fo