Financial software systems developer, Soliton Inc., today announced significant enhancements to its TimeSquare solution.
The company is now live with an off-the-shelf cross-reference data model and cross-referenced ratings data that ensures Basel II credit risk compliance.
"These developments are another important step in the continued evolution of TimeSquare," stated Soliton Inc. President & CEO, Nazir Noormohamed. "This is part of our on-going commitment to provide our customers with the most comprehensive reference data around."
The enhancements are designed to assist financial institutions with Basel II compliance in the area of credit risk. The cross-reference data model allows for integration of multiple data vendor feeds, all with their own identifiers. The model supports cross-referencing to each other and to other industry identifiers based on client-defined matching criteria.
The cross-reference ratings data module integrates ratings from three leading providers of U.S. company ratings' information with reference data from Bloomberg, both at the issue and issuer level.
"This is truly a unique and innovative solution," added Noormohamed. "Up until now, financial institutions have had only one choice – build a customized, in-house solution. With this enhanced functionality, they now have an affordable, viable, turnkey solution that allows them to assess their exposure to counterparties with confidence."