Open Link Financial, Inc., (âOpenLinkâ), a leading provider of cross-asset trading, risk management and operations processing software announced today that Nationwide, an insurance and financial services company, went into live production with OpenLinkâs Findur solution.
Findur is OpenLinkâs fully integrated financial markets solution, offering a straight-through-processing (STP) environment that supports the entire transaction management life cycle, covering a comprehensive list of asset classes. Nationwide sought a single, integrated trading system to manage, control, analyze and report their derivative instrumentsâ financial exposures and positions. Nationwide completed its installation with the assistance of Open Link staff in less than five months.
Nationwide Investments, the asset management arm of the Nationwide family of companies, currently manages a portfolio of more than $61 Billion of diversified general account assets. It wanted an end-to-end technology solution to manage the inherent risk involved in its derivative positions. It was of significant importance that the solution provides transparency of data, specifically for trade terms and pricing details â throughout the trade lifecycle. The ability to leverage valuation and analytics support across multiple asset classes was also a key differentiator in Nationwideâs selection of OpenLink.
OpenLinkâs EVP of Financial & Risk Solutions, Ken Knowles commented, âWe are very pleased that OpenLink was selected as the vendor of choice to support Nationwide Investmentsâ efforts to manage and provide transparency into its portfolio. With its leading Trading and Risk management capabilities, our application provides the requisite tools to manage financial risks and an integrated solution to consolidate automate and streamline what was previously handled through legacy systems.â
âOpenLinkâs comprehensive solutions simplify our investment management processes for derivatives and help us to achieve some new operational efficiencies,â said Al Miralles, Chief Financial Officer from Nationwide Investments. He added, âIt also puts us in a better position to adapt to new requirements that will inevitably come from the recent Financial Reform bill.â