Open Link Financial, Inc. ("OpenLink"), a leading provider of cross-asset trading, risk management and operations processing software solutions, announced today that the Ontario Teachers' Pension Plan Board ("Teachers'"), one of Canada's largest and most sophisticated asset managers, has further expanded its use of the Findur platform to now include straight-through- processing for Credit Default Swaps and Commodity Derivatives.
"With the completion of this initiative, these new asset classes join our existing set of live instruments that includes Bonds, Money Market/Repos, Futures, Interest Rate Swaps, Swaptions & Caps/Floors," commented David McGraw, Chief Financial Officer of Teachers'. "These end-to-end trade processing operations are all housed within one central and transparent platform, accessible to more than 130 users across the Fund."
New with this release was the delivery of an innovative integration solution to Markit's End-of-Day CDS spread service and Markit RED, providing significant efficiencies for trade processing and daily pricing. Both integration solutions have been certified by Markit. Future phases will extend the Findur implementation to FX, Loans and Equity Derivatives.
McGraw added, "The addition of Credit Default Swaps and Commodity Derivatives (swaps & options) adds to our growing data foundation for critical OTC terms & conditions information. This data has already been leveraged by many parallel initiatives within our organization."
"We are extremely pleased that the project goals and vision for a single solution supporting a wide array of asset classes are being realized by Teachers'," commented Ken Knowles, Executive Vice President of Financial and Risk Solutions at OpenLink. Our solution is continuing to benefit from our relationship with Teachers' and generating market interest, particularly with the buy side community, as a result of Findur's valuation, analytical and operational processing capabilities."