Alveo maintains momentum in risk and regulatory initiatives

The global software provider has recently signed one of the GSIB banks as a new client. This new client will use Alveo’s flagship financial data management platform Prime and Risk Data Manager module to implement its Prudent Valuation process and looks to use the same market data management process for new market risk requirements coming from FRTB. Another major Alveo client in market infrastructure also recently implemented the Risk Data Manager module for time series optimisation, in particular for derivatives risk margin calculations and collateral valuation.

Martijn Groot, VP Product Management at Alveo, commented: “Financial services firms are faced with increasing scrutiny on their market data sourcing, verification and derivation processes. Furthermore, the volumes of data required for valuation and market risk reporting are increasing due to additional valuation adjustment rules for Prudent Valuation and price data histories, risk factor classification and real price requirements for FRTB. We have been pleased to help a number of new and existing clients in this area this year.”

Alveo’s recent wins follow a year of accelerated development in the areas of regulatory compliance and data accessibility for business users. The company’s efforts were recently recognised by its third consecutive year of inclusion in the Chartis’ RiskTech100® ranking, and by winning the inaugural RegTech Awards’ ‘Best Data Management Solution for Regulatory Compliance’.

“As it moves into 2018, Alveo is focused on major product developments that leverage latest NoSQL technology to help clients deal with increasingly high volumes, accessibility and fast data transfer while lowering infrastructure TCO. This is particularly relevant to help customers meet the data intensity of FRTB market data, model development and onboarding, calculation and risk factor visualisation requirements,” concluded Mark Hepsworth, CEO, Alveo.