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.
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.