Waters Rankings 2019: Best Market Risk Solution Provider: Wolters Kluwer

For the third year in a row, there is a new winner in the market risk solution provider category, with Wolters Kluwer taking home the prize for 2019. Numerix and RiskVal won in 2018 and 2017, respectively. Wolters Kluwer scored the title thanks to its OneSumX Market Risk platform. 

The solution helps clients to optimize their business, balance sheets and funding endeavors. It offers advanced risk metrics, a centralized data architecture and product modeling that enables product valuation, cash-flow generation and contract forecasting.

Ragat Somany, vice president of global product and platform management for Wolters Kluwer’s finance, risk and reporting division, says companies now face market risk across their banking and trading books. He says in the past, market risk was most associated with the trading book, but the Basel II and Basel III regulations have focused on market risk for the banking book, and on market and credit risk integration, citing the new credit valuation adjustment (CVA) rules. 

“The silo-based approach for risk is becoming a hindrance,” Somany says. “Future-proofed solutions should give an integrated view of profit-and-loss and risk on the balance sheet, both from a risk perspective and from a business unit perspective. With the Wolters Kluwer OneSumX Market Risk solution, we offer this kind of integrated platform to manage all of the risks on clients’ balance sheets.”

Over the last year, Wolters Kluwer introduced improved in-memory processing and data virtualization to its offering, as well as advanced risk-factor modeling and market analytics.  The firm also added enhanced instrument coverage along all verticals, such as liquidity, income, exposure and value, and embedded and exotic options.

Thinking about the future, Somany says Wolters Kluwer is “continuously looking to expand coverage of our product set and our presence in high-potential markets, and we are making investments in both areas.”