Rule Financial, a provider of business and IT consulting services to the financial services sector, has launched three over-the-counter (OTC) clearing service solutions for market participants facing an imminent tidal wave of new OTC derivatives regulation. The service solutions support banks, investment managers and central counterparties (CCPs) and are designed to meet both the business and technical challenges of reform. They have been developed based on Rule Financial’s market expertise, as well as experience from 15 OTC clearing engagements with sell-side, buy-side, and a CCP over the past 18 months.
As the industry grapples with regulatory reforms, such as the Dodd-Frank Act in the US, the European Market Infrastructure Regulation (EMIR) and the global Basel III reforms, Rule Financial believes the three new service solutions will help resolve the business, operations and IT challenges that clients face in light of the new requirements.
- OTC clearing – margin analytics accelerator: This suite provides an out-of-the-box solution for clients wishing to actively perform pre-acceptance risk checks on client trades that are subject to clearing. This enables optimal margining and accurate exposure management.
- OTC clearing – strategic build-out: This service supports clients designing a new and bespoke operating model that can cope with the required changes to products, processes, controls and technology platforms. The business architecture and road-mapping methods, which are also part of the service, ensure that the implementation approach is in line with the overall business goals of the organisation, accelerating the time-to-market.
- OTC clearing – vendor implementation: This service is focussed on the evaluation of internal and vendor solutions to maximise the opportunities that OTC derivatives clearing presents. Rule Financial has a history of successful partner alliances with the leading platforms used by the majority of OTC clearing houses and many clearing brokers. Allied to this, Rule Financial’s 13 years of focus on wholesale and investment banking has enabled the firm to develop blueprints to benchmark and determine client requirements for making the right platform choices.
Harjap Bal, principal consultant at Rule Financial, said: “Our derivatives and markets specialists each have more than 15 years of investment banking expertise, and our direct experience of 15 OTC derivatives clearing engagements over the past 18 months has enabled us to shape best practise solutions and resolve the common and emerging challenges experienced by our clients across the entire OTC derivatives landscape.”
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