SimCorp, a leading provider of investment management solutions and services for the global financial services industry, has released SimCorp Dimension version 5.7, the first of its two annual software releases.
Following the financial crisis, global investment managers are increasingly looking towards consolidation in the front office, with the aim of meeting regulatory requirements, ensuring higher returns and reducing risk. Among several new functional enhancements in the front office, SimCorp Dimension makes it possible to monitor and control risk against external parties as well as enable restrictions of the combined risk tolerance from holdings, unsettled transactions, cash, and OTC trades.
Another important and unique update in release 5.7 is the new data warehouse model, which provides a standard industry model, completely maintained by SimCorp. Compared to other solutions, SimCorp’s data warehouse is easier, faster and more cost-efficient to implement and maintain. Data management and reporting are major concerns of investment managers who are struggling to meet regulatory requirements and gain real-time overview of the business.
Other noteworthy aspects of version 5.7 include:
• Tighter integration between the front office and the IBOR allowing users access to near-real-time data on their positions and exposure
• New functionality to support sophisticated performance analytics in the middle office, front office or both
• Four new dashboards for front office and middle office providing improved overview
• Comprehensive US tax lot functionality
• A Thomson Reuters interface covering static data and prices for multiple instrument types
As one of few independent software companies SimCorp continues to invest substantial resources in R&D, and annually more than 20% of revenue is invested in new developments, including additional features and functionality.
“Our ongoing investment in R&D allows us to support our clients managing the numerous requirements and obligations of today’s financial industry,” says Klaus Holse, Chief Executive Officer at SimCorp. “With this latest release we are able to further support the vast data management challenge our clients are facing - not to mention the multiple benefits of combining the data warehouse and the IBOR to truly provide a comprehensive overview of the business.”