CCR, a state-owned company ranked among the 20 top reinsurance companies worldwide, manages about 7 billion euros of assets and handles a billion orders each year. A client of Linedata since 2000, CCR wanted to rationalize its entire trade processing process with the view of having true STP between the front, middle and back office. CCR was in the process of mapping the multiple risks that need to be addressed in order to satisfy Solvency II requirements. The chosen solution had to be flexible, robust and extremely accurate.
âAt the beginning we simply wanted to replace the in-house trade processing software. But during the course of the project and in preparation for putting Solvency II in place, it became apparent it would be indispensable to implement a trade processing workflow,â said Martine Laveyne, in charge of the back office of CCR. âThe benefits of Linedataâs front-to-back office solution are considerable. We are now able to update our portfolios in real-time and have a true middle office equipped with control capabilities and efficiencies, thereby ensuring complete auditability throughout the trade lifecyle, as well as satisfying our regulatory requirements. In short, we are ready to handle any future increases in flows with our existing team.â
The implementation will be deployed via ASP, where Linedata hosts all of the infrastructure (servers, databases...) in its own datacenters.
The compliance solution ensures a level of conformity recognized as one of the best on the market. It allows restriction controls and limits, automatically pre- and post-trade, as well as the verification of limits for the entire portfolio in real-time.
âThis project highlights Linedataâs strategy to offer the French market a front-to-back office compliance solution,â said BenoÃ®t Colin, product manager of asset management solutions, Southern Europe, Linedata. âWith our products Linedata Longview, Linedata Compliance and Linedata Chorus, we have a complete integrated solution, which provides total traceability of an order after it is executed in the market until settlement.â