Press release
SS&C Signs Multiple Clients to its FRTB Solution
Nova Ljubljanska banka and SDC implement SS&C Algorithmics' Fundamental Review of the Trading Book solution ahead of the deadline WINDSOR, Conn., June 2, 2021
About this update from Ss&c Technologies Holdings, Inc.
[{"type":"text","content":"Nova Ljubljanska banka and SDC implement SS&C Algorithmics' Fundamental Review of the Trading Book solution ahead of the deadline\n\n\nWINDSOR, Conn., June 2, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that financial institutions from multiple regulatory jurisdictions around the world are now implementing its Fundamental Review of the Trading Book (FRTB) solution in 2021. SS&C Algorithmics' solution is designed to address the Basel Committee on Banking Supervision's market risk-related capital requirements for the Standardized and Internal Models approaches, which go into effect in January 2023.\n\n \n \n \n \n \n \n\n \nBanks are updating their risk management frameworks to meet the deadline. SS&C's FRTB solution provides FRTB-specific calculations and workflows, extensive model coverage, high performance and scalability, as well as extendibility through APIs. The SS&C Algorithmics Workspace Analyzer (AWA) works with the FRTB solution to provide aggregation, sandboxing and what-if capabilities.\nDenmark's SDC provides an IT platform for 120 small and large banks across all the Nordic countries and was looking for a platform that would help its entire client base prepare for FRTB compliance. \"Addressing FTRB-SA requirements is imperative for our bank customers. We need a technically efficient and scalable solution that ensures robust data segregation,\" said Lars Rasmussen, Director – Business Intelligence & Decision Support. \"We selected the SS&C solution for FRTB to meet our requirements for industrial strength and scalable technology that provides value for our customers.\"\nNova Ljubljanska banka (NLB), the largest bank in Slovenia, adopted Algorithmics' FRTB solution to enhance risk management capabilities. \"For FRTB-SA, we needed a software partner that would ensure compatibility and create efficiencies with the wider risk management frameworks,\" said Chief Data Officer Franc Bračun. \"We selected SS&C with confidence that they provided a mature and flexible solution, already adopted by the marketplace to meet regulatory FRTB-SA requirements.\" \n\"Banks recognize the need to prepare for FRTB now to accommodate the fast-changing local requirements in risk management,\" said Mina Wallace, General Manager, SS&C Algorithmics. \"We are pleased to offer a way to simplify the prepara...