Adenza passes ISDA SIMM® Methodology v2.6 certification two months ahead of the effective date
Adenza today announced that it has passed ISDA SIMM v2.6 certification, a full two months ahead of the compliance deadline. With this certification, Adenza demonstrates its proactivity on SIMM changes, enabling clients to anticipate margin impacts and related collateral costs.
Due to unprecedented market volatility and a tumultuous first quarter, ISDA’s benchmarking exercise led to an off-cycle recalibration in May 2023 for the first time since implementation of the UMR Phase 1 requirements in addition to the standard annual set of parameter updates. Consequently, getting a head start on SIMM updates is instrumental for firms to quickly incorporate the changes and manage trading and collateral cost impacts.
Faced with the compounding effect of methodology changes, exponentially growing UMR exposures, and potentially newly breached thresholds, clients will welcome an early delivery that allows them to simulate and adjust ahead of the December 2023 compliance date. With Adenza’s continuous delivery process, clients can rely on timely access to new versions and be ready for upcoming changes.
Adenza’s Calypso Initial Margin solution − part of a truly integrated front-to-back-to-risk platform − provides end-to-end margin exposure calculations and collateral processing for cleared and uncleared trades.
It is very important that users switch to the ISDA SIMM methodology v2.6 by the December 2, 2023 effective date, as this version includes the latest updates, based on a full recalibration of the model. We are pleased to work with licensed vendors such as Adenza to prepare for v 2.6 well ahead of the implementation date.
Given the volatility of today’s market it is critical to be ready for additional off-cycle changes. With this early certification, we have taken a big step forward in giving clients room to anticipate and holistically optimize the impact of SIMM v2.6 on their business for the ultimate go live in December.
ABOUT ADENZA
Adenza provides customers with end-to-end, trading, treasury, risk management and regulatory compliance platforms which can be delivered on-premises or via the cloud. Adenza enables financial institutions to consolidate and streamline their operations with front-to-back solutions integrated with data management and reporting, benefitting from a single source of truth across the business.
With headquarters in London and New York, Adenza has more than 60,000 users across the world’s largest financial institutions spanning global and regional banks, broker dealers, insurers, asset managers, pension funds, hedge funds, central banks, stock exchanges and clearing houses, securities services providers and corporates.
Press contact
Herve de Laforcade
Global Head of Marketing, Adenza
Email: herve.delaforcade@adenza.com
