GoldenSource Corporation, a global software provider of enterprise data management (EDM) solutions for financial and securities institutions worldwide, today launched a new data solution, GoldenSource for Derivatives, to help financial institutions accurately value portfolios and manage risk for derivatives products. A preconfigured solution for risk management, GoldenSource for Derivatives allows for a 360 degree view of instrument, issuer and counterparty exposure, creating a local CDS warehouse capability.
GoldenSource for Derivatives increases transparency and auditability for derivatives portfolios held by banks, brokers and asset managers by feeding trading and risk management systems with accurate and trustworthy data. The solution was developed in response to client demand for instrument-level transparency and in anticipation of increased regulatory and repository requirements
“Given increasing, board-level and regulatory pressure, the industry needs to increase auditable transparency and decrease the operational risk inherent with derivatives. This increased oversight directly translates to an increasing need for industry-led data repository solutions,” said Larry Tabb, founder and CEO of TABB Group, a financial markets research and advisory firm.
“With a 360 degree view of activity, a firm can increase their transparency not just at a simple counterparty level but at a total corporate hierarchy level,” said Mike Meriton, president and CEO of GoldenSource. “The complexity of derivatives instruments make it difficult to understand quickly how changes in underlying data, such as a counterparty credit rating, can impact values across portfolios unless all data is linked. GoldenSource is unique in its ability to handle the diverse nature of derivatives data, since we can source, validate and distribute all terms and conditions data, client and counterparty details, as well as transaction related data throughout the life cycle of a derivatives contract.”
GoldenSource for Derivatives organizes, archives, stores and categorizes all attributes of a wide range of exchange-traded and OTC derivatives, including any underlying securities' characteristics. The product provides flexible integration with document management, trading and risk systems, allowing firms to build a trusted repository of all derivatives-related data.