Wednesday, Oct 28 2020 | Time 05:53 Hrs(IST)
image
  • IAEA says Iran building underground nuclear facility
  • IPS transfers in MP
  • Facebook axes 3 networks for violating coordinated inauthentic behavior
  • War against COVID-19: MP’s body count rises to 2,898
  • Quake in MP district
  • Cong ruined India: Tomar
  • BJP ignores youths: Nath
  • US Google searches of 'can I change my vote' soar Tuesday morning
  • Covid-19: over 5,000 new cases added in M'rashtra
  • Diggy raises ballots issue
  • Pilot highlights PEB scam
  • Tall pledges doomed Cong: Uma
  • Kejriwal inaugurates 15 TPD Waste to Power plant at Gazipur Poultry Market
Press Releases » Business Wire India


Wipro and Quaternion Partner to Launch Standard Initial Margin Model (SIMM) Solution

Business Wire India
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced a partnership with industry-leading Standard Initial Margin Model (SIMM) vendor, Quaternion Risk Management. As part of the collaboration, Wipro will offer SIMM-in-a-box to financial institutions covered under Uncleared Margin Rules (UMR).
 
The offering will allow financial institutions to calculate trade sensitivities, generate CRIF (Common Risk Interchange Format) file and calculate initial margin in-house. The solution simplifies compliance procedures by including back testing, benchmarking and preparing documentation required for regulatory approval. It also offers independent model validation of a firm’s own internal SIMM solution, AANA (Aggregate Average Notional Amount) calculation, and Initial Margin exchange threshold calculation/simulation. The partnership aims to provide cost efficiencies and seamless integration with clients' internal systems, while maintaining full control over sensitive trade information.
 
Keyur Maniar, Senior Vice President and Global Head, Capital Markets, Wipro Limited said, “The uncleared margin rules offering from Wipro demonstrates our deep understanding of our clients’ business imperatives, and our ability to combine strong industry knowledge with global best-of-breed technology solutions for smart execution. SIMM calculation is a complex area with a significant role in regulatory compliance. Our compelling proposition and partnership with Quaternion promises to abstract away these challenges and let our clients focus on their core business.”
 
SIMM-in-a-box is a "future-proofed" SIMM solution that uses the same high-grade analytics as the world's largest dealer banks. The solution is built on Quaternion’s ORE XML that has evolved as the market-standard for non-cleared derivatives trade representation. The partnership also leverages Quaternion’s established quantitative library to determine trade sensitivity for CRIF generation and SIMM calculation.
 
“Quaternion is delighted to partner with Wipro to help bring SIMM best practices to every corner of the financial services industry,” said Scott Sobolewski, Principal at Quaternion. “As companies prepare to implement the final phases of the Uncleared Margin Rules, the combination of Quaternion’s deep experience building one of the industry’s most comprehensive derivative pricing libraries and Wipro's unmatched expertise in IT consulting can alleviate many of the traditional 'plumbing' and middleware headaches associated with analytics integration. Clients will achieve quick and cost-efficient benefits from a proven solution to SIMM compliance.”
More News
Companies Turn to Avrils Mindfulness Training During Covid-19 Pandemic

Companies Turn to Avrils Mindfulness Training During Covid-19 Pandemic

27 Oct 2020 | 3:20 PM

Companies Turn to Avrils Mindfulness Training During Covid-19 Pandemic

see more..
Digital Lending - A Business That Even the Coronavirus Could Not Stop

Digital Lending - A Business That Even the Coronavirus Could Not Stop

27 Oct 2020 | 1:50 PM

Digital Lending - A Business That Even the Coronavirus Could Not Stop

see more..
Philips Introduces Breakthrough Ultrasound 3300 System in India for Obstetrics and Gynecology, General and Cardiovascular Procedures

Philips Introduces Breakthrough Ultrasound 3300 System in India for Obstetrics and Gynecology, General and Cardiovascular Procedures

27 Oct 2020 | 2:00 PM

Philips Introduces Breakthrough Ultrasound 3300 System in India for Obstetrics and Gynecology, General and Cardiovascular Procedures

see more..

Infor Customer Cloud Migration Continues to Gain Global Momentum

27 Oct 2020 | 2:20 PM

Infor Customer Cloud Migration Continues to Gain Global Momentum

see more..

Medihauxe Pharma Is Fully Equipped to Handle, Store and Deliver Corona Vaccine as and When It Is Made Available

27 Oct 2020 | 12:35 PM

Medihauxe Pharma Is Fully Equipped to Handle, Store and Deliver Corona Vaccine as and When It Is Made Available

see more..
image