The latest edition of the software includes functions for processing central counterparty clearing, based on Dodd-Frank and EMIR guidelines.
SimCorp has released version 5.2 of its Dimension software, which includes processing of central counterparty clearing (CCP) and OTC derivatives management.
The new version enables asset managers to meet specific risk margining requirements of the CCPs in an efficient manner. To assist clients in meeting the new clearing and processing needs, version 5.2 introduces a new tool, OTC Derivatives Manager, which offers OTC derivatives processing based on a one-step transaction registration process. The tool supports data import, and integrates with SimCorp Dimension's instrument templates and straight-through processing functions. The OTC Derivatives Manager is also enhanced with interfaces to confirmation platforms, initially to the MarkitSERV platform, providing a clear distinction between cleared and not-cleared trades.
"Many of our clients are highly impacted by the new CCP processing requirements," says Lars Falkenberg, head of global product and marketing management at SimCorp. "Consequently, it is not enough for them to just be compliant, they are looking for a long-lasting and effective solution to keep costs down - this is exactly what version 5.2 offers."
Also included in version 5.2 are new rules in the compliance manager, a function for general reconciliation of external data, and enhancements to the credit risk modules.
The next version of SimCorp Dimension will be released in February 2013.
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