PolarLake has today launched a fully packaged over-the-counter derivatives trade lifecycle solution.
The solution is ideal for sell-side, buy-side, custodians and fund administrators.
Features of the solution are:
- ISDA compatible portfolio reconciliation, matching and reporting service, including out of the box reports for business users
- Support for FpML 4.2 & 4.3 standards
- Out of the box FpML semantic validation of the business meaning of trade data
- Ability to take inputs in any format (Excel, pdf, CSV, XML, etc.)
- Out of the box BPM support for trade lifecycle and exception management
- Data Analyst driven user desktop for configuring business rules
- Support for all derivative classes
- Out of the box integration with WS-CDL for choreography of trade flows
- Integration platform for connecting to SwapsWire, T-Zero, DTCC
- Easy integration solution for FpML onto SWIFTNet
- Business rules defined in open standards rule language XQuery
The key benefits to financial institutions of adopting PolarLake's OTC derivatives trade lifecycle solution are:
- Decreased costs and lower operational risk through automation of existing manual portfolio reconciliation processes
- Increased revenue through tailored, differentiated OTC derivatives trade services to clients
- Lower cost of integration over traditional coding of transformations
- Lower cost of maintenance based on PolarLake's ability to manage the complexity of FpML in an intuitive data centric manner
- Quicker on-boarding of new services such as SwapsWire and T-Zero
Commenting on the release, PolarLake CEO John Randles said, "PolarLake has been involved in the integration, reconciliation and process management of FpML based trades for many years. Our core platform is more suited to this problem than any other on the market due to our patented XML pipelining technology. And, with our experience in many implementations with companies like JPMorgan, Société Générale, Pioneer Investments and Dimensional Fund Advisors, we have been able to package a complete integration, reconciliation, matching and BPM solution for the OTC Derivatives market. Companies new to these asset classes are looking for solutions, not a series of technical problems. Companies already working with these asset classes are well aware of the technical and operational problems, currently addressed by expensive manual processes. These are problems we have already solved."