Acrys' Feedback on the 5th ABS Conference at Geneva

The 5th Annual Geneva Symposium on Securitization in Europe from April 1st to 4th 2003, one of the most important events dealing with this topic with more than 400 delegates, once again has discussed and examined interesting und highly topical aspects of ABS. The area of ABS shows impressive growth rates within the financial industry. The legal and supervisory basic conditions such as Basel II / IAS, adequate risk/pricing models (with scenarios, forecasts etc.) as well as necessary standardizations (in documents or post-issuance reports for example) have been emphasized as particular challenges in many lectures and panel discussions. The European Securitization Forum ESF does extraordinary pioneering-work with an already great number of members, which was reported by Joseph Smallman, the co-chairman. From April 4th 2003 the ESF will publish a pricing-index in the area of RMBS/CMBS on their web-page for the first time, which will be updated weekly. With this benchmark for portfolio managers the first move for secondary market prices has been made.

In his lecture on the newest developments, Justin Fox of Merril Lynch especially underlined also the technological aspects, which are imperative for the further growth and standardization of the ABS business. He particularly named the existence of too many different IT systems with the corresponding problems in interfaces, the analysis and segregation of data or assets, as well as the provision with homogenized historic und ongoing data/information as particular challenges.

This is exactly where Acrys Consult with its advisory services and the software products PoolDesigner und PoolImporter offers economical und flexible solutions. The visitors’ interest in the exhibition booth of Acrys was accordingly. With its solutions Acrys Consult is way ahead of the market, last not least because of its concrete experience collected in the project for the development of a hitherto unique STP-platform for true-sale MBS for a leading European mortgage bank. This experience teaches, that especially the dynamical ABS business does not ask for mere standard solutions, but seeks for software, which offers flexibility for individual adjustments according to the clients’ needs alongside the entire process chain.

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