London-based Xenomorph says Société Générale Securities Services (SGSS) has rolled out its data management system, TimeScape, after signing a five year deal for the technology.
SGSS's asset servicing department is using TimeScape to support its derivatives operation. The product is being used to create a single, consistent and centralised source of all data used in the pricing of derivatives on behalf of clients.
TimeScape was implemented in order to avoid the over-use of spreadsheets in managing complex and changing derivatives data, says Xenomorph.
The software is also being used to support high added value services - such as independent valuation of structured derivatives and risk management. TimeScape's validation capabilities are also used to control and cleanse multiple sources of market and instrument data for use by other downstream systems.
Rachid Lassoued, co-head, asset servicing, SGSS, says: "TimeScape supports complex derivatives data and structures with ease, and delivers a level of data transparency to our quant staff that allows them to ensure an extremely high level of data quality."
TimeScape was implemented within six months and has been integrated with SGSS's derivatives platform, Summit.